#ETH #Crypto
Updated the chart.
Large limit buy orders are holding the $1,830 level. A sweep into this zone followed by a successful hold could return $ETH to consolidation within an upward structure. However, the sustained selling pressure should not be ignored. The increasing presence of sellers is a bearish sign, allowing price to move in the direction favored by large market participants.
🔔 Negative funding and the liquidity accumulated above may have attracted a large number of retail traders. Against this backdrop, it is more advantageous for the market maker to drive price through a bearish structure.
The move toward $1,909 failed to establish acceptance below the key area of interest. This retest served as an important confirmation of the bearish move and the beginning of positioning by a large market participant.
#LONG vs #SHORT
Updated the chart.
Large limit buy orders are holding the $1,830 level. A sweep into this zone followed by a successful hold could return $ETH to consolidation within an upward structure. However, the sustained selling pressure should not be ignored. The increasing presence of sellers is a bearish sign, allowing price to move in the direction favored by large market participants.
🔔 Negative funding and the liquidity accumulated above may have attracted a large number of retail traders. Against this backdrop, it is more advantageous for the market maker to drive price through a bearish structure.
The move toward $1,909 failed to establish acceptance below the key area of interest. This retest served as an important confirmation of the bearish move and the beginning of positioning by a large market participant.
#LONG vs #SHORT