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Ethereum just got rejected hard at the $2,450 resistance zone, and the anticipated downside played out exactly as expected. This outcome aligns perfectly with my cautious take on ETH during the recent pump.
The key condition for a valid bullish breakout was a clean close above $2,450 no wicks, no ambiguity. That simply didn't happen. When we analyze recovery levels, candle body closes are non-negotiable for confirmation. We failed that test.
This rejection at $2,450 triggered the bearish scenario, and the implications go beyond just ETH. It reinforces the short thesis from $82.3k on BTC, because weakness in Ethereum often precedes or coincides with Bitcoin's downside momentum.
While I don't post about ETH often, I'm always watching the charts noting key levels, spotting manipulation, and analyzing relative strength against BTC. That multi-asset analysis is exactly what led to the short entry at $82.3k.
The core takeaway here is simple: price structure and candle integrity matter. Without a clean breakout, the trend remains suspect. Stay sharp out there.
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