ETH still in a downtrend till Friday
Updated
Ethereum is still finishing its last lag of its ABC move to the downside with a C move incoming that might hurt some leveraged traders out there. With futures expiring this Friday it would make sense for ETH to trade lower than its current price levels. My(!) max pain price based on info I have would be around 3850. So I expect ETH to be around that price point on Friday afternoon after finding support in the lower order block (yellow). If however, ETH holds in the upper order block or above this scenario is invalidated. Keep an eye on the bear flag break and the price action in the order blocks. This last move is a shake out for the leveraged traders and options traders and will scare the market into bearish sentiment and thus the perfect time for the market maker to step in to reverse the trend for (possibly) a move to a new ATH.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Comment
Dont be fooled by a top hunt rise... we will continue further down at around 16.00-17.00 CET or continue sideways action with a lowest low on Thursday / Friday morning.Comment
*stop hunt rise
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