$ETH - Daily Bearish Order Block - Short to Liquidity 1172 *SMT*
Entry - 1206.93 (1207)) (NOW - )
S/L - 1267.49 (Must close above on the on or 4 hour chart before I will manuall remove myself from the trade, otherwise it m,ight just liquidity run through th number and drop)
Take Profit 1- 1150.27
Take profit 2 - 1120.36
Take Profit 3 - 1172
SMT= Smart Money Theory. See related Idea. ASmart Money does not focus on retail Technical Analysis. NO, trendlines, wedges, bull flags, bear flags, channels, moving averages, harmonics, etc. All of that is a distraction, price does two things. 1) Finds and attacks liquidity, 2) Finds and fills imbalances.
Currently the price of ethereum, did hit my previous suggestion as I thought before raising up again. It got down to 1177 when I was safe with 1194, but I knew there was a 1 hour fair value gap (imbalance) at around 1157-1163. During the asian session it has risen quickly to the dailt bearish order block as shown in the picture. At this point it should get rejected and it will probably take all week to get to the Sell side liquidity at $1171.
As price has moved up through the daily fair value gap that means it has mitigated on side of that gap. Price moving down to $1145 that is the bottom of the daily fair value gap. The momentum will be continuing down and head towards the equal lows where most people have their buy lim its set. Smart Money will know this and drive the chart down even furtrher. The one hour fair value gap will need mitigated and that might take more time as well becAuse it could consolidate in that area. (see where the arrows are in chart)
Don't fall for the triple bottom, that is to get you to bite when then are goping to force you to lose money. Instead you should be shorting now and take profit at that time.
with the current wave the golden ratio extension hits the next daily fair value gap. That will be Ethereum's possible next move After it get's under the sell-saide liquidity
that price would be 1332.... or will it drop further to the 860 I've already said twice now?
I'm not sure, but as for now I'm shorting til 1071
COINBASE:ETHUSD
BYBIT:ETHWUSDT.P
CME:ETH1!
CRYPTOCAP:ETH.D
