📉 $ETH : The "Weak Bounce" Trap — Short Setup 📉
Ethereum is showing classic signs of a corrective rally rather than a true trend reversal. After a sharp decline, the current bounce is struggling to find any real buyer appetite above the $2,060 zone.
The Technical Breakdown:
Rejection at Resistance: The price attempted to climb but was met with immediate sell pressure, forming a lower high on the 1-hour and 4-hour timeframes.
Momentum Loss: Indicators suggest that momentum is "rolling over." The RSI remains in a bearish regime, and the SuperTrend indicates a dominant downward bias.
Volume Profile: Buying volume on this "pump" is significantly lower than the preceding sell-off volume, suggesting this is a "dead cat bounce."
🎯 Trade Setup (Short Opportunity)
Entry Zone: $2,020 – $2,060 (Scaled entries recommended)
Stop Loss (SL): $2,120 (Invalidation above the recent swing high)
Take Profit Targets:
TP1: $1,960 (Immediate Support)
TP2: $1,880 (Mid-term Liquidity)
TP3: $1,780 (Major Structural Target)
⚠️ Final Thoughts
The trend is clearly your friend here, and currently, that friend is heading south. Expect downside continuation as long as $ETH remains pinned below the $2,080 resistance level. Trade with discipline and manage your risk.
#ETH #cryptotrading #Ethereum #BinanceSquare #Bearish
