ETH is getting ready for a drop to previous lows $168!

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ETH is in another bear flag and its target is $168 area, its previous low. We could drop down from here, specially if $196.4 doesn't hold, but it seems to be having a decent bounce from this support area so it can be expected to reach the top of the bear flag. I recommend going short in that area for a low risk high reward scenario.

Best of luck everyone

Feel free to comment and share your ideas

Commentaire:

I also want to mention the false bull break at the right end of the blue triangle. There are many traps happening on this market, specially bull traps. I got caught up on this one and many others before. The key is having a good risk-reward strategy. Minimum 2:1 but 3:1 is the best way to keep growing your account at a steady pace

Transaction en cours:

Here is a short entry with a 10:1 risk reward

Commentaire:

A break of 201 would be a clear bear break of the bear flag.