AlphaTradeZone

Any hopes for Ethereum? #eth #ethusd #bitmex #tatip

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
Ethereum dumped more than BTC without clearing the liquidity above as we expected. Price broke market structure, getting bellow the support and retesting it as a resistance before it breaks down hard. Price has currently formed a Lower Low contrary to Bitcoin . I can see 2 possible scenarios here. One is that we reject the Low Timeframe supply zone and continue going lower. The other one is that price will manage to close above the resistance gaining back the support leading on a move further up to the untouched supply. On both cases monitoring price action at this level will be crucial to decide what setup to take.
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