ETHUSDT - Bearish Rectangle idea

Here on ETH, we currently observe the formation of a bearish rectangle after a sharp price drop.

The price is currently within the consolidation range of the rectangle, with each line having more than two touches, indicating a stronger pattern.

It is crucial to monitor the price within the consolidation zone, as a breakout accompanied by heavy volume would likely confirm a continuation of the downward trend.

Trade closed: target reached:

Closing the trade now. Target 2.5R hit. It is good enough.
Thanks for playing.