$ETH
I’ll be waiting on the sidelines for now and closely watching the ETH weekly chart.
The previous order block (OB) is still active and currently acting as resistance. Price has already tapped that zone and pushed through it, so the weekly close is going to be extremely important from here.
If ETH fails to hold above the OB and closes back below it on the weekly timeframe, I think we could see a serious rejection and potentially a much deeper move down. That would be a pretty ugly setup for the bulls.
On the other hand, if ETH manages to secure a strong weekly close above the OB with convincing volume, that would completely change the picture for me. It could signal that the resistance has finally been reclaimed and open the door toward $3K+.
So for now, I’m not trying to force a trade.
I’ll let the weekly candle confirm the direction, then react to what the market gives us.
Follow me
@2skid_BNB
i will keep you posted.
I’ll be waiting on the sidelines for now and closely watching the ETH weekly chart.
The previous order block (OB) is still active and currently acting as resistance. Price has already tapped that zone and pushed through it, so the weekly close is going to be extremely important from here.
If ETH fails to hold above the OB and closes back below it on the weekly timeframe, I think we could see a serious rejection and potentially a much deeper move down. That would be a pretty ugly setup for the bulls.
On the other hand, if ETH manages to secure a strong weekly close above the OB with convincing volume, that would completely change the picture for me. It could signal that the resistance has finally been reclaimed and open the door toward $3K+.
So for now, I’m not trying to force a trade.
I’ll let the weekly candle confirm the direction, then react to what the market gives us.
Follow me
@2skid_BNB
i will keep you posted.
