$ETH SHORT🔻
It just bounced back 1,823 around 1,855.
Seeing the current green trees makes it easy to think the uptrend has returned.
But H4 is still forming lower highs.
This bounce doesn’t have enough strength to be called a reversal. It was rejected at 1,980 and then it lost 1,880 with heavy sell-off volume. The current rebound only has 394K volume, which is lower than the 498K level.
Spot Ethereum ETF just added another $9 million.
That means yesterday’s drop isn’t caused by bad news. It looks like a technical sell-off after a failed breakout, while BTC is still getting suppressed around 63K.
Momentum is still sitting near the bottom, only barely moving in green.
As long as H4 hasn’t reclaimed 1,890–1,900, I’ll still treat this rebound as a chance to sell/exit.
The 1,795–1,810 zone is still pulling/attracting price.
I’m adding more short orders right here.
Weak rebound likely leads to another sell-off👇
It just bounced back 1,823 around 1,855.
Seeing the current green trees makes it easy to think the uptrend has returned.
But H4 is still forming lower highs.
This bounce doesn’t have enough strength to be called a reversal. It was rejected at 1,980 and then it lost 1,880 with heavy sell-off volume. The current rebound only has 394K volume, which is lower than the 498K level.
Spot Ethereum ETF just added another $9 million.
That means yesterday’s drop isn’t caused by bad news. It looks like a technical sell-off after a failed breakout, while BTC is still getting suppressed around 63K.
Momentum is still sitting near the bottom, only barely moving in green.
As long as H4 hasn’t reclaimed 1,890–1,900, I’ll still treat this rebound as a chance to sell/exit.
The 1,795–1,810 zone is still pulling/attracting price.
I’m adding more short orders right here.
Weak rebound likely leads to another sell-off👇