ETHUSDT Short range Analysis | Both Long and Short Possibilities

Hello, traders!
Today we gonna speak about Ethereum and possible trade opportunities on it. As you know, it's the most powerful Altcoin with great capitalization and powerful fundamentals. Moreover, some analysts call it the alternative of Bitcoin. We've already told, but you should remember that the great update will be on 21-th of July. Read about it in our related idea. Now, let's speak about technicals. Today we'll kill two birds with one stone. I'll show you the application of Gann Square and give some possible trades on ETHUSDT. Here we go!

Let's have a look at the chart. As you can see, we have double top that tells us about the trend reverse. As you know, the range of the price goes down is the height of double top. As you can see, the price doesn't reach maximum level, thus the continuation of falling down is possible. Then, we have strong confirmed bearish divergence completed with crossover. This tells us about the highly probable price. Let's have a look at Gann Square. Here we can see that the price is in local triangle that can be break either up, or down.
Moreover, we can see more global triangle that's broken broken below. Based on these knowledge, I see two possible outcomes.

Scenario 1)
Price returns to the blue triangle and after three bars closed inside it, we can enter the long positions. Take profit is on the top side of triangle, stop loss a bot lower than the current support-resistance line, entrance after 3 closed inside bars.

Scenario 2)
One-two bars closes under the triangle. Thus, we have consolidation under it and we can open short position. Take profit is put on weekly pivot and stop loss on possible level after the probable breaking down the resistance.


Here you are my vision of future ETHUSDT. Please, don't enter position without your own analysis. It would boost your trading skills much better than just following over ideas.
As you know guys, we work hard for you every day to make interesting and useful content. However, your opinion is extremely important for us. Thus, please, write down to comments what would you like to read about, what would you like to study and so forth.

DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.