Are BTC and ETH about to fall in short Term?

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Should we start Shorting BTC and ETH now?

Going by current Market Trend, we see that it took support from $1300 area and made a rally till this current Point, However, Going by the Trend Channels drawn in the mentioned link proves that, this might be it for the current small bull run.

I'm still Bullish on ETH and BTC as a whole for long term, but for short term traders, it looks like, opening Shorts would be more plausible.

If market manages to close in green, We can see some great upward momentum from here, and thus it will be a game over for bears. But if you look at Ichimoku, it clearly suggests that ETH may start falling soon or at least go into some sort of consolidation.

If we look at 4hr chart ( ) for the same, we see that the current 4hr candle has a pretty good chance of closing in Red. That combined with Trendline Resistance shall only make things worse for Short Term investors, and we will see some liquidations in ETH and BTC as a whole.

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تعليق

Seems like we were right about Eth and BTC so far. The decisive time is about to come for BTC and ETH. By tomorrow or day after, we shall see how the market responds to upcoming Squeeze.

Proper Direction of Trade will be finalized by Tuesday next week.