ETH can be strategically short at 202
ETH has recently stepped out of the mid-line downtrend and is currently returning to a major 618 retracement, located near 202.
If you can stand firm, there is room for improvement.
Paradoxically, a falling bat pattern is also taking shape, and the vicinity of 202 is just near the D point of the bat form (accurately 199.5).
However, the new uptrend line is very close to point D. If the bat pattern runs successfully, the new uptrend line that is finally coming out will be broken immediately.
How to trade here?
The author suggests the following:
1. When the market is close to the D point, the shrinking cycle observation is nested with a small down model.
2. If a small level of falling model exists, then we are short at point D.
3. Empty orders need to pay attention to the uptrend line Can it be broken, if it breaks to see T1 or even T2 (can be properly added)
4. If it stops successfully at the uptrend line, you need to stop immediately
If you can stand firm, there is room for improvement.
Paradoxically, a falling bat pattern is also taking shape, and the vicinity of 202 is just near the D point of the bat form (accurately 199.5).
However, the new uptrend line is very close to point D. If the bat pattern runs successfully, the new uptrend line that is finally coming out will be broken immediately.
How to trade here?
The author suggests the following:
1. When the market is close to the D point, the shrinking cycle observation is nested with a small down model.
2. If a small level of falling model exists, then we are short at point D.
3. Empty orders need to pay attention to the uptrend line Can it be broken, if it breaks to see T1 or even T2 (can be properly added)
4. If it stops successfully at the uptrend line, you need to stop immediately
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