Asset: ETHUSD

Psition: Short

Time Frame: 1D

ETHUSD Broke The Ascending Trend line

As you see in the daily chart there is a sharp downtrend and the daily ascending trend line has been broken out to the downside and bearish candles have been closed and fixed below it.

Price has been pushed to the upside after approaching to the demand level at 1715 and is moving up towards the trend line .

There is also a supply zone there between $2450 – $3000.

I expect an upside move as a pull back to the supply zone and IF there was any downside pressure at that level, we can expect a fall in price to the three-year old support level between $1256 – $1393 (from January 2018).

What do you think about ETHUSD?

Feel free to share your ideas in the comments.

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