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Today’s report will include:

• Updated Technical Analysis

• Other key market developments

• Market Psychology

• Trading Tools

ETHUSDT Short Trade 📈 

In Today’s analysis -ETHUSDT- officially breaking out of its trading channel, acceptance below this increases the probability of a further bearish expansion.

Points to consider ✍️ 

• SFP Price Action

• Dynamic S/R Support

• POC S/R Support

• Daily S/R Support

• Value Area Low Support

• .618 Fibonacci Confluence

Ethereum confirming a bearish retest of the channl low support will activate this continuation trade towards the low. This will solidify the context of price action, that is a bearish expansion after a Swing Failure Pattern (SFP).

A key trade location has been identified at the lower Daily S/R Support. This region is in technical confluence with the POC S/R Support, VAL S/R Support and the .618 Fibonacci S/R Support.

Overall, from Bitcoin Insider’s perspective, ETHUSDT is a valid short if the bearish retest is confirmed. How price reacts needs to be used upon discretion/ management of the trade.

Hope this analysis helps.

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