ETH is going down. Opportunity to short
Yesterday's price action unlocked profit opportunities for Data Money followers to make ~8-12% profit. Great yields for executing 2-3 trades per day, congratulations on your wins! 🏆
The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today.
Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑
Today's technicals:
Position is short (if you can keep your eyes on the ball, long and short as yesterday)
Forecasted highs at $1830 & $1860
Mid-way point at $1815
Forecasted lows at $1730, $1700
Have a great day trading! 💰
If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today.
Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑
Today's technicals:
Position is short (if you can keep your eyes on the ball, long and short as yesterday)
Forecasted highs at $1830 & $1860
Mid-way point at $1815
Forecasted lows at $1730, $1700
Have a great day trading! 💰
If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
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