ETH/USDT : Bearish setup with full analyzes

7 Jun 2021

ETHUSDT
Hello everyone 😃

ETH has been rejected by the bearish FIBBO's 0.5 level and now it's moving below $2800..
Daily MA50 rejects ETH so many time and now it just been rejected from bearish trend lines for the 4th time, So there will be a retest at-least to $2400 level before any 5th attempt to breakout !

Also on other view,

You can see that ETH just been rejected from the trendline.

📚 Anyway; There is a daily order block on current level and a bearish one above ! ( It's been formed on 8H chart).
You can think about SHORTs till the ETH's have a daily close above 61.8% level on FIBBO.

Also on ETH/BTC's daily 4H chart :

You can see that the pair has reached the strong resistance zone and it's really hard for it to have a breakout above it with current structure...
Volatility's limit suggests a retest on lower supports for now !


🔴 There are many opened shorts on BTC at 36K level, So you have to be warned about it and trade with caution !
BTC's is short in my opinion, Also I will try to publish an exclusive chart for it tomorrow...

Hope you enjoyed our analysis about ETH's possible directions🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
Helical_Trades