$ETH Evening Thoughts: 9.13.
The price channel of the second coin has also been broken down, and it has further broken the strong support at 2504. A rebound cannot be recaptured and traded back above 2504. The second coin’s bearish grind is ongoing, and there’s no way to expect a rebound up toward the resistance at 2547. And as long as the second coin cannot hold above 2504, the probability of a breakdown in the hourly structure is high—then it will likely retrace to 2456. If 2456 breaks, it will test the prior low at 2404 again.
Right now, I don’t see any signs that the selling pressure has stopped, so don’t blindly bottom-pick—it’s easy to get hit.
The second coin’s hourly 2404 must not break. If 2404 breaks, the hourly bullish consolidation zone outlined in the white box will be damaged, and then the price will continue lower to retrace toward 2355. If it plays out this way, the setup is broken.
For the second coin, the best scenario right now is to keep ranging between 2504 and 2456.
For the second coin: a volume-backed breakout above 2491 is a right-side chase-long; a high-volume drop that breaks below the right-side level at 2475 signals a right-side chase-short. Watch how the volume changes and set your stop-loss properly.
For the second coin on the hourly timeframe: if it holds above 2504, watch for 2523–2547.
On the 4-hour timeframe: if it breaks below 2466, watch for 2433–2404.
For the second coin on the daily timeframe: before it breaks below 2404, there is a probability it will complete a 1-for-1 move up along the yellow segment indicated by the red arrow. The target of that move is 3070. Remember: it’s the daily timeframe—before breaking 2404, it may still perform that 1-for-1 rally indicated by the red arrow on the yellow segment. Once the daily timeframe breaks 2404, there’s nothing left—no “1-for-1” move to speak of. Because breaking 2404 will destroy the daily consolidation range, there won’t be any structure left to support a 1-for-1 move. Meeting adjourned.
$ETH
#Clarity法案9月15日程序性投票
The price channel of the second coin has also been broken down, and it has further broken the strong support at 2504. A rebound cannot be recaptured and traded back above 2504. The second coin’s bearish grind is ongoing, and there’s no way to expect a rebound up toward the resistance at 2547. And as long as the second coin cannot hold above 2504, the probability of a breakdown in the hourly structure is high—then it will likely retrace to 2456. If 2456 breaks, it will test the prior low at 2404 again.
Right now, I don’t see any signs that the selling pressure has stopped, so don’t blindly bottom-pick—it’s easy to get hit.
The second coin’s hourly 2404 must not break. If 2404 breaks, the hourly bullish consolidation zone outlined in the white box will be damaged, and then the price will continue lower to retrace toward 2355. If it plays out this way, the setup is broken.
For the second coin, the best scenario right now is to keep ranging between 2504 and 2456.
For the second coin: a volume-backed breakout above 2491 is a right-side chase-long; a high-volume drop that breaks below the right-side level at 2475 signals a right-side chase-short. Watch how the volume changes and set your stop-loss properly.
For the second coin on the hourly timeframe: if it holds above 2504, watch for 2523–2547.
On the 4-hour timeframe: if it breaks below 2466, watch for 2433–2404.
For the second coin on the daily timeframe: before it breaks below 2404, there is a probability it will complete a 1-for-1 move up along the yellow segment indicated by the red arrow. The target of that move is 3070. Remember: it’s the daily timeframe—before breaking 2404, it may still perform that 1-for-1 rally indicated by the red arrow on the yellow segment. Once the daily timeframe breaks 2404, there’s nothing left—no “1-for-1” move to speak of. Because breaking 2404 will destroy the daily consolidation range, there won’t be any structure left to support a 1-for-1 move. Meeting adjourned.
$ETH
#Clarity法案9月15日程序性投票
