ETHUSDT Monthly S/R| HTF .618 | Psfp | Price Action

٢ فبراير ٢٠٢٣

Evening Traders,

Today’s analysis- ETHUSDT- trading at a key resistance zone where a rejection lower is possible,

Points to consider,
- Price action impulsive
- Monthly S/R Resistance
- HTF .618 Fiboancci Resistance
- Sfp-entry area

ETHUSDT’s immediate price action is trading in a zone that is considered resistance due to technical confluence such as the Monthly S/R, HTF .618 and Psfp, allowing for a bearish bias.

The immediate objective will be the low Psfp, this is an area of resting liquidity this a magnet for price action.

Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite