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NEIRO

ETHUSDT Short Position Anticipates Trend Line Breakdown

The trader is considering a short position on ETHUSDT with an entry point anticipating a break below the established trend line at around 2603, with an initial stop loss set at 2621 just beyond a significant structural level. The analysis points to a pattern where ETH has repeatedly tested a trend line, with a gradual decline observed after liquidity was removed at higher levels. A potential breach of this trend line in increased volatility could signal further downside. The target prices are first at 2580, then at 2555. The approach involves shorting upon a confirmed break or retest of the trend line, aiming to capitalize on the expected downward movement.
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AI Analysis

Analyzing the recent price action of ETHUSDT, the formation and testing of a trend line over multiple instances indicate a strong support/resistance boundary. The pattern of liquidity being swept abov...

AI Recommendation

Given the technical evidence pointing towards a potential trend line breach, it is prudent to wait for a confirmed break or a retest of the trend line at around 2603 before shorting. The stop loss at ...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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