Looks like a perfect setup to retest the high. Strength on this rally will be needed because the sell pressure at 40K will be tough. In it for the scalp.
The key to trading is not to hold yourself to just one direction. PA has recently changed and has painted a clear reversal for both BTC and ETH. Very nice HS with a trendline break. Easy move to flip long here.
ETH is obviously feeling down pressure from both BTC and it's own Futures. Two takeaways is that the RSI has dipped below a several week low and has also got stuck below support. For now, There's some heavy resistance as sellers will fight to hold that as resistance. At this point, 1400 support should get tested. The tricky thing about Futures is the hype, but...
Be careful of those perma bull charts! The weekly close is not looking like it's favoring the bulls. Declining volume and strength as a failed high is in the process of confirming, leaves us to believe next week we'll see red. The prior 2019 ATH can not be ignored as to the similar patterns of PA as it to failed to make an ATH. This can also be seen in the daily...
Winners or losers will be made tonight! Which are you?
Bots are hard at work setting up another possible fractal to test ATH. Key factor is BTC breaking the 35K resistance. Sit tight