$ETH has been slightly bearish for over a week now following some major fundamental reports which includes; the US spot Ethereal ETFs, recording an approximately $542 million in outflows during the October 5 to 9th.
Even as the sell pressure on ETH looks high, it's still risky to go all in on a short position on this crypto. I just think the month is still young and the news report of the September inflation rising to 3.7% has a way of manipulation the price in a short time.
PRICE OUTLOOK AND ANALYSIS
Short term Bullish outlook: Watching from a weekly time frame, Price has broken the bearish structure around 2,473 leaving a huge FVG, and now price after breaking out seem to be testing the FVG and a rejection is currently taking place.
BULLISH SETUP AND ENTRY
Entry: 2,458
SL: 1,784
If price get to the order block around 3,397 and breaks above it, then we can say we will be anticipating for a bullish market for ETH.
Even as the sell pressure on ETH looks high, it's still risky to go all in on a short position on this crypto. I just think the month is still young and the news report of the September inflation rising to 3.7% has a way of manipulation the price in a short time.
PRICE OUTLOOK AND ANALYSIS
Short term Bullish outlook: Watching from a weekly time frame, Price has broken the bearish structure around 2,473 leaving a huge FVG, and now price after breaking out seem to be testing the FVG and a rejection is currently taking place.
BULLISH SETUP AND ENTRY
Entry: 2,458
SL: 1,784
If price get to the order block around 3,397 and breaks above it, then we can say we will be anticipating for a bullish market for ETH.