We are watching today the Ethereum rejection from the 100 SMA 726 level and this could be used for the new sell entry. The rejection here after the pullback in the overall bear near-term trend is giving to us an opportunity for selling.
We have used the combination of the top-down trading analysis and the Andrews Pitchfork channels to get to a trading entry stop loss levels and targets. Place a sell order at the market with the stop loss near 805 to target 270. Risk Reward ratio is 1:4.
Happy trading! (click on the chart to enlarge it)
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