So, if you followed or just saw the last Ethereum Idea, you know, that we opened a short-position.
What we have now: the price is testing an upper border of the 1st orange block. After the last fall, we probably will see a consolidation. If the consolidation will start to develop in 1st block, then we still have an opportunity to go back to test the purple zone. Remember, you should try to open long only when the price will test the bottom of the purple zone and then try to break it.
As I had written in the last ETH idea, we have a button with almost no consolidation cloud. The volume is too low, and it would be a nice target to market maker to catch liquidity below the last low. So, if we won't consolidate in 1st zone, we will go lower to test second one, which is pretty thin. (Do not forget about local bounces).
To make a decisions in your trade, you should check how the 1D candle will close.
What we have now: the price is testing an upper border of the 1st orange block. After the last fall, we probably will see a consolidation. If the consolidation will start to develop in 1st block, then we still have an opportunity to go back to test the purple zone. Remember, you should try to open long only when the price will test the bottom of the purple zone and then try to break it.
As I had written in the last ETH idea, we have a button with almost no consolidation cloud. The volume is too low, and it would be a nice target to market maker to catch liquidity below the last low. So, if we won't consolidate in 1st zone, we will go lower to test second one, which is pretty thin. (Do not forget about local bounces).
To make a decisions in your trade, you should check how the 1D candle will close.