Ethereum at pre-FTX high

ETHUSD fired off a spike signal on the 2 Hour timeframe (see below for trading timeframe). The context is that price is now back at the pre-FTX collapse high of November 5th, 2022. This is a key resistance and a price volatility spike at this level is significant and worth playing a short pullback from the January 2023 trend.

Comment:

2 Hour and 1 Hour timeframe show the spike with the breakout failure and close back inside the resistance of 1678

Trade active:

The Spike at Resistance was indeed a valid one. Price continues down to the 50% Retracement around 1415.