Hello everyone 😃
ETH is showing weakness on daily TF and the repetition can be happen again !
So there we have a 3D order block which is stands at ( $2585 - $2360 ).
And the repetition would be a engulf as a false break on an important level..
For now bulls have this chance to push back above $2278 cause they captured the resistance Earlier.
But based on-chain data ETH might retest the Pressure zone again..
Before that; You can have a buy point at ~$2040, If the break down below $2040 getting confirmed then you can set your bids for a long-term hold at the mentioned buy zone.
SL will be a daily close below 27K on BTC's chart !
Also there is a on ETH/BTC's chart neither :
There is a rejection below and the FIBO time is suggesting a for it..
So you can have the ETH on your watchlist to take SHORT on right spot !
I would like to have a look on 4H's chart too :
There is a formed on chart above. The pair has reached the lower line for now and there could be a pullback to higher resistances !
That's why I called to have a check on bulls side too..
We'll update the chart once the break down happens and the target for the breakdown is almost 40% drop; So don't rush in any position without conformation.
📚 Have to remind that the is moving into the sell limit zone, So bulls have this chance to show the strength on next day and form the candle as a order block !
Hope you enjoyed our analysis about ETH's possible directions🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
Some of you guys are blind..
Didn't I mentioned the retest on $2278 ?
And well; There is a engulf on important level.
So the upward movement was expected as I mentioned before !