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‘Why hasn’t ETH moved up? Be careful, this could be a bullish trap! A wave of retracement is on the way!’
From the ETH price of 2082 on April 2, combined with the one-hour and four-hour structures, if viewed from another angle, an easily overlooked signal can be found:
This may not only be a starting point, but there is also a risk of forming a 'top structure'.
Four-hour level (potential risk)
The four-hour chart is currently in a delicate position:
Although it rebounded from 2000, it has not broken through the key pressure zone (2100-2150) overall
Repeated highs without results → There is obviously selling pressure above
The pace of the rise is beginning to slow down → Momentum decay signal
Core logic:
The rebound is encountering resistance; if it cannot break through, it is likely to evolve into 'end of rebound'
This may not only be a starting point, but there is also a risk of forming a 'top structure'.
Four-hour level (potential risk)
The four-hour chart is currently in a delicate position:
Although it rebounded from 2000, it has not broken through the key pressure zone (2100-2150) overall
Repeated highs without results → There is obviously selling pressure above
The pace of the rise is beginning to slow down → Momentum decay signal
Core logic:
The rebound is encountering resistance; if it cannot break through, it is likely to evolve into 'end of rebound'