The $ETH /BTC pair is forming a bearish engulfing candleIf it closes and the RSI trendline breaksthe first support to watch is 1968with a break below1,800 opening the door to new lows
For contextin the last update on the 11th both pairs were sitting at key trendlines with direction still uncertain. Since then:
$BTC pair tried to flip 0.03but failed
USDT pair got rejected around 2,200 as a result.
Now, the daily BTC pair is roughly 13 hours away from closing that potential bearish engulfing candle with the RSI trendline also at risk.
The USDT pair is in a similarly weak position:
Sitting near the range high and value area high
Just rejected at the 50 SMA
RSI about to close below 50
All three signals aligning isn’t random it suggests distribution is happening
If the BTC pair confirms the engulfing close and the RSI trendline breaks, the USDT pair is likely to revisit the 1968 POC. If BTC then loses 0.028 the range breaks and ETH could print lows not seen since April 2025 with $1,800 as the next structure level
Think of it this way: BTC pair closes the door USDT pair walks through it