Waiting to go short ETH at 3100$ level
3100$ level is the confluence of many factors:
- The intersect of 2 MA lines (MA 89 in yellow and MA 200 in blue)
- Key level of the wig at the price 3101 (purple line)
- RSI is rising to retest the red dash trend line, whose breakout caused the latest dip to 17xx$
Plus, the Bitcoin Dominance is also rising.
I expect to go short at the 3100 level WHEN I SEE A REVERSAL SIGNAL (CANDLES PATTERNS,...) at that level. This could happen if BTC could not break the 41-42k level.
The stop-loss is expected to be higher that the sideway zone at this level on the left while the take profit price could be key level wig at 2107, making this trade a 1.8 RR one.
- The intersect of 2 MA lines (MA 89 in yellow and MA 200 in blue)
- Key level of the wig at the price 3101 (purple line)
- RSI is rising to retest the red dash trend line, whose breakout caused the latest dip to 17xx$
Plus, the Bitcoin Dominance is also rising.
I expect to go short at the 3100 level WHEN I SEE A REVERSAL SIGNAL (CANDLES PATTERNS,...) at that level. This could happen if BTC could not break the 41-42k level.
The stop-loss is expected to be higher that the sideway zone at this level on the left while the take profit price could be key level wig at 2107, making this trade a 1.8 RR one.
Comment:
Plus: the MFI+RSI is showing some selling pressure