Ethereum broke through the descending channel last night, reached the trendline and upper resistance level, then pulled back. After the trendline is broken down, it becomes a resistance level. With two resistances converging together, a converging triangle pattern has formed waiting for a directional breakout. Additionally, the 4H candlestick body has not closed above the resistance, so my daily view remains bearish.
Daily Operation Suggestions: 2150—2160 Short Stop Loss 2192 Target 2125—2100—2080
ETH
Ethereum broke through the descending channel last night, reached the trendline and upper resistance level, then pulled back. After the trendline is broken down, it becomes a resistance level. With two resistances converging together, a converging triangle pattern has formed waiting for a directional breakout. Additionally, the 4H candlestick body has not closed above the resistance, so my daily view remains bearish.
Daily Operation Suggestions:
2150—2160 Short
Stop Loss 2192
Target 2125—2100—2080