ETH/USDT Outlook ICT Concepts Ethereum (ETH/USDT) Analysis
💰 Welcome to Your Channel!
Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on ETH/USDT, dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains.
💡 Previous Analysis Review:
We expected the price to have a retracement higher before expanding lower, similar to Bitcoin. However, Ethereum showed more bearishness and expanded lower without the expected retracement.
📍 Current Market Overview:
The current price is around 2,916.80. ETH has swept the previous week low (PWL) and taken out some sell-side liquidity (SSL). It has also tapped into a Fair Value Gap (FVG) on the 4-hour timeframe.
🔍 Identifying Key Levels:
• PMH: Previous Month High
• PWL: Previous Week Low
• PWH: Previous Week High
• PML: Previous Month Low
• BSL: Buy-Side Liquidity
• SSL: Sell-Side Liquidity
• 4H FVG: 4-Hour Fair Value Gap, highlighting areas of imbalance on the 4-hour timeframe
📊 Key Considerations:
• Swept Previous Week Low: ETH has swept the previous week low (PWL) and taken out low resistance sell-side liquidity on lower time frames.
• Support Levels: The price has tapped into a 4-Hour FVG and has shown a reaction, indicating potential support.
• SMT at the Lows: There is SMT (Smart Money Technique) at the lows with BTC, which is a bullish indication. BTC formed higher lows while ETH formed lower lows.
• Reaction to FVGs: We need to observe the reaction from the two FVGs close to the current price for further confirmation of the next move.
• Inverse Confluence: If we inverse the chart, it provides another confluence to the bullish scenario.
📈 Bullish Scenario:
Given the current price action and key considerations, a bullish scenario is possible if the following conditions are met:
• Retracement Higher: We can expect the price to have a retracement higher from the current support levels. This move could target some key resistance levels or lower time frame low resistance levels, similar to the analysis we performed for BTC/USDT.
• Key Levels to Target: The price could aim for the 4-Hour FVG above and possibly sweep minor buy-side liquidity before deciding on the next move.
📉 Bearish Scenario:
A bearish scenario should be considered if the following conditions are met:
• Failure to Hold Support: If the price fails to hold the current support levels provided by the 4-Hour FVG, we might see a continuation lower.
• Clearing Buy-Side Liquidity: For any bearish scenario, we need to see some buy-side liquidity being taken out first before considering lower targets.
📊 Chart Analysis Summary:
• Bullish Expectation: The expectation is for the price to potentially retrace higher from the current levels, targeting the 4-Hour FVG above or some lower time frame low resistance levels. The SMT at the lows with BTC adds to this bullish outlook.
• Bearish Expectation: For a bearish scenario, we need to see a failure to hold the current support levels and potentially clear some buy-side liquidity before considering lower targets.
💡 Conclusion:
The ETH/USDT chart is showing a similar pattern to the BTC/USDT chart analyzed previously. We can expect a potential retracement higher from the current support levels, with key levels to watch for further moves. The SMT at the lows with BTC provides a bullish indication. As always, keeping an eye on how the price interacts with these levels will be crucial in determining the next steps.
🙏 Thank you for joining us!
Exploring ETH/USDT today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning!
⚠️ Disclaimer
The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
