$ETH: spot ETFs have bled for 6 straight weeks and price is still below the daily EMA200. No rush to catch this bottom.
Trend: Bearish (4H)
🎯 Entry short: 2,292 – 2,312 (limit, cancel before CPI Nov 10, 13:30 UTC; if filled, reduce before the print)
✅ TP1: 2,245
✅ TP2: 2,210
✅ TP3: 2,180
🛑 SL: 2,345
📊 Logic:
• 4H downtrend, RSI 43. Entry sits at the 2,300 resistance (tested 8 times), just under the daily EMA200 at 2,315.
• $ETH ETFs saw about $365M in net outflows Nov 2-6, a 6th straight week (SoSoValue; another tracker shows more).
• Markets price roughly a 77% chance of a December Fed hike (CME FedWatch), a headwind for risk assets.
• Watch out: support near 2,242 has held 6 times. TP2 only opens if it breaks.
⚠️ Invalidation: a 4H close above 2,345 kills the setup. A break of 2,206 before a fill cancels it too.
Into CPI, which side are you on with $ETH: SHORT or LONG? Drop one word 👇
#ETH #Fed #CPI #BinanceSquare $ETH
Disclaimer: Personal view, not financial advice. DYOR.
Trend: Bearish (4H)
🎯 Entry short: 2,292 – 2,312 (limit, cancel before CPI Nov 10, 13:30 UTC; if filled, reduce before the print)
✅ TP1: 2,245
✅ TP2: 2,210
✅ TP3: 2,180
🛑 SL: 2,345
📊 Logic:
• 4H downtrend, RSI 43. Entry sits at the 2,300 resistance (tested 8 times), just under the daily EMA200 at 2,315.
• $ETH ETFs saw about $365M in net outflows Nov 2-6, a 6th straight week (SoSoValue; another tracker shows more).
• Markets price roughly a 77% chance of a December Fed hike (CME FedWatch), a headwind for risk assets.
• Watch out: support near 2,242 has held 6 times. TP2 only opens if it breaks.
⚠️ Invalidation: a 4H close above 2,345 kills the setup. A break of 2,206 before a fill cancels it too.
Into CPI, which side are you on with $ETH: SHORT or LONG? Drop one word 👇
#ETH #Fed #CPI #BinanceSquare $ETH
Disclaimer: Personal view, not financial advice. DYOR.
