4hr bearish trendline has broken with many confluences leading towards a bearish ETH for the short term.
Price has been melting after making a new highs trapping buyers and long positions before melting straight down last week during FOMC which was the catalyst for the downside on ETH and other crypto currencies. I am looking at 1070$ ETH or even a 1000$ ETH in the weeks to come.
Price is currently consolidating on the 4hr timeframe in a tight range where i am not comfortable taking a buy or a sell just yet and will only look for buys and sells based off the given SnR marked on the charts. My overall bias for ETH is shorts as there is 0 confirmations for longs just yet and will only look for long scalps to the upside upon breaks of key levels.
Price has been melting after making a new highs trapping buyers and long positions before melting straight down last week during FOMC which was the catalyst for the downside on ETH and other crypto currencies. I am looking at 1070$ ETH or even a 1000$ ETH in the weeks to come.
Price is currently consolidating on the 4hr timeframe in a tight range where i am not comfortable taking a buy or a sell just yet and will only look for buys and sells based off the given SnR marked on the charts. My overall bias for ETH is shorts as there is 0 confirmations for longs just yet and will only look for long scalps to the upside upon breaks of key levels.