Technical crypto analysis based on breakout – Short within 205.50-201.76

ETH –

Short within 205.50-201.76

Technical observation

A breakout was seen when price went down a support zone 205.50-201.76 with a big red candle, it then retraced to the just broken zone but could not penetrate above it and was contained before rallying donw.Currently ETH is pulling back to the same zone and my expectation is for a rejection of price within it followed by bearish momentum towards 184.66 and a possible breakout below 184.66 for a further decline in price. My advice, wait for the correction to the above mentioned zone then short ETH within it with your take profit at 184.66 and stop loss around 216.61.Only short positions can be recommended.

Trade signal

Wait for retracement to 205.50-201.76 to short Ether.

101% Double the volume

!Attention!
All bonus participates in drawdown!

More detailed

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

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