ANALYSIS #Ethereum ON 05/18: IS THIS RETRACE A FINAL TRAP BEFORE A DEEP DUMP?
ETH is currently around 2,115, after a heavy dump from 2,190–2,200 down to nearly 2,085. The outlook for the next 24 hours still leans towards the scenario where the market makers (MM) are compressing price below the FVG zone, pulling back to hunt for stop-losses on shorts before selling off again.
ETH fluctuates around 2,108–2,125, then retraces up to the 2,148–2,168 range. If there’s a deep wick, the price might touch 2,172–2,183 before reversing down. This is a better zone to SHORT than chasing after at 2,11x.
You guys wait for #ETH🔥🔥🔥🔥🔥🔥 to retrace back to 2,148–2,168 to SHORT down.
SL: 2,198.
TP1: 2,085.
TP2: 2,065.
TP3: 2,025–2,005 if it breaks down hard.
Backup setup: if ETH wicks down to 2,085–2,065 and then bounces back strongly, closing above 2,108, then you might want to scalp LONG up to 2,125–2,148. SL below 2,045.
ETH is currently around 2,115, after a heavy dump from 2,190–2,200 down to nearly 2,085. The outlook for the next 24 hours still leans towards the scenario where the market makers (MM) are compressing price below the FVG zone, pulling back to hunt for stop-losses on shorts before selling off again.
ETH fluctuates around 2,108–2,125, then retraces up to the 2,148–2,168 range. If there’s a deep wick, the price might touch 2,172–2,183 before reversing down. This is a better zone to SHORT than chasing after at 2,11x.
You guys wait for #ETH🔥🔥🔥🔥🔥🔥 to retrace back to 2,148–2,168 to SHORT down.
SL: 2,198.
TP1: 2,085.
TP2: 2,065.
TP3: 2,025–2,005 if it breaks down hard.
Backup setup: if ETH wicks down to 2,085–2,065 and then bounces back strongly, closing above 2,108, then you might want to scalp LONG up to 2,125–2,148. SL below 2,045.