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ETHUSD H16: 40% correction warning distribution(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don’t overleverage.

🔸 Summary and potential trade setup
::: ETHUSD 16hours chart review
::: updated/revised outlook
::: distribution in range / weak chart
::: cycle low later July/August 2022
::: weakness will last for 4-8 weeks
::: LOG SCALE chart
::: not a great looking chart
::: 2500 USD S/R level is WEAK NOW
::: S/R was re-tested produced WEAK bounces
::: final BOUNCE possible off 2500 USD
::: also noteworthy sequence of lower highs
::: recommended strat: SHORT from 3300 USD
::: final TP BEARS is 1900/2100 USD
::: 30-40% correction possible next
::: 4-8 weeks in May/June 2022
::: right now no upside in this market
::: position traders should wait for
::: better entry prices later after
::: BULLS higher risk strat: BUY BOUNCE 2300/2500 USD
::: recommended strategy: SHORT SELL RIPS/ RALLIES
::: TP BEARS is +30% gains – near 2 000 USD
::: BULLS stay out until correction is over
::: SWING TRADE: SHORT/HOLD IT
::: correction run not over yet
::: good luck traders!
::: BUY and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/CORRECTION
::: Sentiment short-term: BULLS/BOUNCE

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