Ethereum
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ETHUSD Potential for Bearish Momentum | 7th November 2022

On the H4 chart, the overall bias for ETHUSD is bearish. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. Looking for a sell stop entry at 1561.62, where 2 of the 61.8% Fibonacci lines are located. I have a relatively safe stop loss set at 1684.16, slightly above where the 78.6% and 38.2% Fibonacci lines are located. Take profit is set at 1411.43, where the 38.2% and 100% Fibonacci lines are located.

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