Ethereum: Possible drop to $1,160 USD in this trade

I see a nice opportunity in Ethereum trad that we can to entry in short position. We're in the perfect pull back of this break out of this bullish channel in H4 timeframe and ready to drop. Also the volatile will define how Ethereum may involving in this drop. Also, another potential chartist pattern it's a bullish channel flag in this chart. What we are looking for short position in this side, if in any case we see a rejection in $1,223 USD level, I will decide if the price action will speak about the uptrend, what definitely we can't to short or long this trade, or maybe we can to see a rejection from this point and then go back to the previous level like $1,290 USD and look in that point maybe another strong resistance to drop significantly. But it's very important understand the price action always, and not use any indicator. For divergence, I don't use a lot indicators as I always use order block, and price action key.

So guys, in the next weeks I will offline as I will take my vacations and take off until January 2023 that i will return here in Forex and crypto. And a lot thing I will bring new features to make my analysis as always impeccable and reviews as points to make evaluations of my trades. In both crypto and Forex.

So, I put a sell order limit in $1,274 USD and Stop Loss in $1, 326 USD and take profit in $1,160 USD


Good luck in this long position

Comment:

Ok, analyzing Ethereum, I decide to keep this short position in H4 timeframe, what we're still in this opportunity to short Ethereum from this point.

The only update it's that I extend my take profit toward $1,100 USD.

Good luck!!!