ETH is in a very tight range (less than 5%) for the past two days. Now we are brushing off against the diagonal resistance with another horizontal resistance just above. Therefore it's likely we won't push up here immediately, rather we may need to go lower to re-fuel before attempting to push through.
4h indicators are looking a bit bearish and volume is not great, therefore I am bearish short term, we need more volume and weekends are not great for that.
I would not be surprised for us to re-test the immediate support (dotted line) and then again the support at $1,100. On daily we're looking bearish as well, so high chance we will need to go lower before we go up again.
As long as we don't drop under $900 the bullish market structure remains intact longer term. No need to be too worried right now.
Like and follow if you liked this idea!
4h indicators are looking a bit bearish and volume is not great, therefore I am bearish short term, we need more volume and weekends are not great for that.
I would not be surprised for us to re-test the immediate support (dotted line) and then again the support at $1,100. On daily we're looking bearish as well, so high chance we will need to go lower before we go up again.
As long as we don't drop under $900 the bullish market structure remains intact longer term. No need to be too worried right now.
Like and follow if you liked this idea!
📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
