$ETH is moving toward higher timeframe (HTF) support and liquidity.
My weekly bias remains bearish, as the higher timeframes are still clearly trending down. As long as price isn’t at the range lows, shorts continue to make sense for potential intraday opportunities.
A continuation setup on a retest could offer a solid entry for those not yet positioned.
Ideally, I’d like to see a liquidity sweep around ~$1,981. If that occurs, I’ll look to short a bearish market structure break (MSB), targeting the ~$1,878 lows.
The HTF support/liquidity zone below ~$1,890 represents the current range lows. Once that area is mitigated, I’ll shift focus to high-probability long setups, aiming for a move back toward the ~$2,130 range high.
Since the HTF trend remains bearish, I plan to keep 25% of my short position open into the HTF support zone.
With NFP being released today, I expect limited setups until after the volatility settles.