Ethereum is still good for another short position after this one.
Direction: Short Entry: Around 3165-3185 Take profit: Point 1: Around 3110 (for stability) Point 2: Around 3040 Stop loss: Slightly above 3220. If doing a long-term 1-2x short, you can skip the stop loss and hold on. Reason: Ethereum faces significant resistance around 3185, so it can be shorted again at this level. Personal opinion: Don't place orders at round numbers, as they are hard to fill. Place orders slightly below the resistance zone for easier execution. Currently, due to many fake breakouts and fake breakdowns, to prevent this, we set the stop loss a bit higher, lower the risk-reward ratio, and significantly increase the win rate when placing trades.
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Ethereum is still good for another short position after this one.
Direction: Short
Entry: Around 3165-3185
Take profit: Point 1: Around 3110 (for stability) Point 2: Around 3040
Stop loss: Slightly above 3220. If doing a long-term 1-2x short, you can skip the stop loss and hold on.
Reason: Ethereum faces significant resistance around 3185, so it can be shorted again at this level.
Personal opinion: Don't place orders at round numbers, as they are hard to fill. Place orders slightly below the resistance zone for easier execution. Currently, due to many fake breakouts and fake breakdowns, to prevent this, we set the stop loss a bit higher, lower the risk-reward ratio, and significantly increase the win rate when placing trades.