SublimeTraders

ETHUSDT SHORT, my honest opinion amid fundamental chaos

Short
BINANCE:ETHUSDT   Ethereum / TetherUS
Hi traders and followers.

Wanted to update you on the ETH price action (stagnant during the Week-End) but showing some hints on what may come.

I am going to prioritize the bearish scenario on all of the 3 possibilities, mainly because we are closed below a 1h orderblock that has been confirmed once and because we closed below my trusty 0.33 FIB.

White scenario - the most "boring" i might say, with the price action zig zagging between the block and 0.5 , can transition into a yellow scenario
Yellow scenario - Clear break of the 0.5 and straight to 0.66 (as a reminder i use closes below equidistant extremes as targets in this case 0.33 and 0.66) , moderate price action
Orange scenario - Most violent of them all , clear break through 0.5 with a possible stop at 0.66 then straight to test the lows, including the 1h supportive orderblock


The volume should be picking up with the beginning of the Asian session and we might have some interesting price action going into the overlap.

Stay safe.

Join our free telegram community here: t.me/sublimetraders
Our website: sublimetraders.com/
Proudly listed on binance-futures-signals.com/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.