$ETH ETH is no joke this time—1900 broke in a flash, with the low dipping to around 1875!
Do the bulls still have a chance?
The daily candle has broken below the lower Bollinger Band, and MACD is still weakening below the zero line.
On the short time frames, RSI has plunged to around 13!
Sentiment and leverage are both rushing for the exits!
Let’s start with BTC.
With all this volatility around $67,000, I think this looks more like a bottom forming after an emotional sell-off—not the start of a trend reversal.
As for ETH, the overall direction remains bearish until the daily chart reverses.
But I’m not chasing shorts around 1900. Definitely not.
The area around 1850–1830 below is packed with nearby long liquidations. This is exactly the kind of zone where an emotional wick can form.
The first resistance confluence zone on a bounce is around 1970–2000.
So here’s my honest plan:
I’m not risking my neck around 1900. I’ll wait for a bounce toward 1970–2000, see if there are signs of weakness on the right side of the chart, and then consider shorting.
Yesterday’s ETH short from 1978 also bagged 🤏100 points—what a treat!! Now I’ll keep waiting for the next opportunity to enter 🫡🫡🫡
$ETH $SNDK
Do the bulls still have a chance?
The daily candle has broken below the lower Bollinger Band, and MACD is still weakening below the zero line.
On the short time frames, RSI has plunged to around 13!
Sentiment and leverage are both rushing for the exits!
Let’s start with BTC.
With all this volatility around $67,000, I think this looks more like a bottom forming after an emotional sell-off—not the start of a trend reversal.
As for ETH, the overall direction remains bearish until the daily chart reverses.
But I’m not chasing shorts around 1900. Definitely not.
The area around 1850–1830 below is packed with nearby long liquidations. This is exactly the kind of zone where an emotional wick can form.
The first resistance confluence zone on a bounce is around 1970–2000.
So here’s my honest plan:
I’m not risking my neck around 1900. I’ll wait for a bounce toward 1970–2000, see if there are signs of weakness on the right side of the chart, and then consider shorting.
Yesterday’s ETH short from 1978 also bagged 🤏100 points—what a treat!! Now I’ll keep waiting for the next opportunity to enter 🫡🫡🫡
$ETH $SNDK
