$ETH Water over Fire, After Completion: Kan above, Li below. Fire below and water above—it looks like the river has been crossed. In plain terms, “After Completion” means it seems like the journey is over, but don’t assume it’s all behind us just yet. Last night’s low plunged to 2,003.03, just a short distance from the round-number mark of 2,000, and the daily candle closed at 2,052. The short-term oversold condition is real, but the weekly chart hasn’t signaled a bottom yet.
Ethereum is currently around 2,056. This morning it’s been grinding between 2,042 and 2,059. First, look to yesterday’s high of 2,136 as resistance, then this week’s earlier high of 2,159. US spot ETH ETFs: the complete total for November 9 was about $184.6 million in net outflows (ETHA led with about $119.3 million in outflows; unofficial/third-party, based on Farside figures), larger than the complete $93.3 million outflow last Friday. The full November cumulative total through Monday is about $550 million. Tuesday’s figures aren’t complete, and US markets are closed today, so I won’t use any new numbers for now. I’m not chasing shorts below 2,003.
I’d rather wait for it to rise to the resistance zone before shorting:
Entry: 2,136 / 2,159 / 2,200 (scale in at each level; no trade if it doesn’t reach them)
Stop-loss: 2,300 (with a buffer beyond the nearby structure)
Take-profit 1: 2,052
Take-profit 2: 2,003
Take-profit 3: 1,900
Close half at the first take-profit and move the stop-loss to breakeven. If it doesn’t rise to those levels, keep waiting. If the daily candle closes above 2,300, I won’t short.
“After Completion” doesn’t mean the story is over yet. Do you think ETH will first rise to 2,136–2,200 and then fall, or head straight down to retest 2,003?
Follow me for updates. These are personal views, not investment advice.
Ethereum is currently around 2,056. This morning it’s been grinding between 2,042 and 2,059. First, look to yesterday’s high of 2,136 as resistance, then this week’s earlier high of 2,159. US spot ETH ETFs: the complete total for November 9 was about $184.6 million in net outflows (ETHA led with about $119.3 million in outflows; unofficial/third-party, based on Farside figures), larger than the complete $93.3 million outflow last Friday. The full November cumulative total through Monday is about $550 million. Tuesday’s figures aren’t complete, and US markets are closed today, so I won’t use any new numbers for now. I’m not chasing shorts below 2,003.
I’d rather wait for it to rise to the resistance zone before shorting:
Entry: 2,136 / 2,159 / 2,200 (scale in at each level; no trade if it doesn’t reach them)
Stop-loss: 2,300 (with a buffer beyond the nearby structure)
Take-profit 1: 2,052
Take-profit 2: 2,003
Take-profit 3: 1,900
Close half at the first take-profit and move the stop-loss to breakeven. If it doesn’t rise to those levels, keep waiting. If the daily candle closes above 2,300, I won’t short.
“After Completion” doesn’t mean the story is over yet. Do you think ETH will first rise to 2,136–2,200 and then fall, or head straight down to retest 2,003?
Follow me for updates. These are personal views, not investment advice.
