$ETH /USDT Bearish Reversal Opportunity
Ethereum is currently testing the upper boundary of a rising channel. A potential double top formation around $1,570-$1,580 could signal a sharp decline, but confirmation is key.
Trade Setup
Entry: $1,568 - $1,572 (following bearish confirmation)
Take Profit (TP): $1,492
Stop Loss (SL): $1,595
Market Analysis:If Ethereum fails to break above resistance and shows weakness, a swift bearish move towards $1,492 is anticipated. However, this short plan will be canceled if no rejection appears.
Key Considerations
Double Top Formation: A double top around $1,570-$1,580 could indicate a bearish reversal.
Confirmation: Wait for a clear rejection candle to confirm the trade.
Risk Management: Manage your risk smartly and enter only after confirmation to minimize potential losses.
