Ethereum hunted us for the shorts as well.

ETH plummeted along with the Bitcoin. At the previous 3rd H4 candle, as bearish wick was left which needs filling by the upcoming candles. The trend is bearish and we are looking to sell once the price action closes below the previous candle towards the lower side and continues going towards the support level priced at 1575. We are eying the 1650 level and then the continuation downwards to the left hand side wickfill.

The ascending trendline has broken out for sells and the candle has validated it. This means, the pair has further downside move pending.

EMA 50 is still bearish and the market has the potential to continue moving down further.

RSI is at 33. It needs to neutralize at the 50 level in order to align with the technical factors.

Another short on Ethereum

Sep 02 2023

Take Profit +5.40%

Holding time 4d20hr

1648.85

Entry price

1559.75

Take profit price