ETHUSD | Solid run, but the uptrend is dead on the 2 hour chart!

ETH closed below its tailing stop around 650, and has reversed course after moving just into overhead resistance. It was a solid run on the 2 hour chart (400 to 650), but distribution bars have taken hold.

What now?

It's time to wait for ETHUSD to reset its basing pattern and watch patiently for a new entry. Remember that on the daily chart, ETH is in a positive uptrend, so shorter term opportunities could arrive with wind still at our backs from a daily perspective. Best of luck.