$ETH Thursday morning “Er Bing” analysis



On the 4-hour timeframe, the technicals are indeed not very encouraging. The price has fallen from the high at 1834, breaking below the Bollinger Band middle rail; it is now hovering between the middle and lower rails, clearly indicating that the bears are in control.

Trading idea: short around 1760-1770, with targets at 1720-1710.
ETH-0.14%
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ForkliftFaye
· 2h ago
The short position placed at 1760-1770 is quite conservative. The Bollinger Bands opening downward indeed indicate a bearish bias, but before the US stock market opens on Thursday, liquidity is thin, and the probability of wicks hitting stop-losses is not small. I plan to wait for a rebound confirmation before entering.
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