$ETH
Unless we see a clear impulsive 5-wave move to the upside or at least a break above the weekend high, the orange scenario with further downside still carries weight.
The bounce from last week’s low looks corrective so far and lacks strength. There is no structural confirmation yet that a durable low is in place.
That said, price is trading in a technically relevant area. After the recent liquidation flush, it makes sense to stay alert for reversal signals.
For now, though, confirmation is missing. I’m tracking the micro structure closely.
