#eth ETH/USDT 30Min Chart – Trade Setup Update
Spotted a clean Descending Triangle pattern forming on the 30-minute chart. Price action has respected the lower horizontal support near the 1,750 USDT zone and is consistently forming lower highs, confirming bearish momentum.
Key Observations:
• Trend: Currently in a strong downtrend (Level: 1805.59, Angle: 16°, TL Strength: 4.25/Strong).
• Pattern: Clear Descending Triangle with breakdown below support.
• Entry Idea: Short setup was triggered at the breakdown of 1750.4.
• Targets: First target near 1729, then 1690.6.
• SL: Tight stop-loss placed at 1805.59 to manage risk.
• Volume: Decreasing on bounces, increasing on drops—validating bearish strength.
Multi-Timeframe Trend Check:
• 50 Bars: -3° (Sideways)
• 100 Bars: -6° (Sideways)
• 200 Bars: -8° (Downtrend confirmed)
This setup aligns well with broader bearish sentiment. Always manage risk—breakouts from these patterns can be sharp. Watch for potential bounce at 1729 or further breakdown toward 1690
