ETH tested 2,317 yesterday and got exactly nothing for it.
The candle tells the whole story: pierced the 2,306 resistance, closed back at 2,257, having spent the day's low at 2,236 — a 3.6% round trip. And it did that on $7.4B turnover, more than double the prior day. High volume into a breakout that fails the same day isn't buyers attacking, it's sellers using the liquidity. Today's follow-up: a 0.46% range. The market froze right where it landed.
Structure: back under the 7D (2,270), with the 99D at 2,356 and 25D at 2,377 still capping. Funding flat at +0.01%. The bulls' one real asset remains 2,172 — the Oct 30 hammer bought with $11.7B of volume.
So: 2,300-2,317 is now a wall of fresh supply, and 2,200 is the hinge. Fade a stalling retest up there, or follow a daily close below 2,200 toward 2,100/2,000. Only a volume close back above 2,317 erases this wick.
At 2,257 I'm paying neither side's price. Let them come to me.
$ETH
$BTC $SOL
(Personal trade journal, not financial advice. DYOR.)
The candle tells the whole story: pierced the 2,306 resistance, closed back at 2,257, having spent the day's low at 2,236 — a 3.6% round trip. And it did that on $7.4B turnover, more than double the prior day. High volume into a breakout that fails the same day isn't buyers attacking, it's sellers using the liquidity. Today's follow-up: a 0.46% range. The market froze right where it landed.
Structure: back under the 7D (2,270), with the 99D at 2,356 and 25D at 2,377 still capping. Funding flat at +0.01%. The bulls' one real asset remains 2,172 — the Oct 30 hammer bought with $11.7B of volume.
So: 2,300-2,317 is now a wall of fresh supply, and 2,200 is the hinge. Fade a stalling retest up there, or follow a daily close below 2,200 toward 2,100/2,000. Only a volume close back above 2,317 erases this wick.
At 2,257 I'm paying neither side's price. Let them come to me.
$ETH
$BTC $SOL
(Personal trade journal, not financial advice. DYOR.)
