ANALYSIS #ETH ON 06/13: MM MIGHT DUMP BELOW 1,651 TO TRAP SHORTS BEFORE PULLING BACK?
ETH is currently stuck in a short-term range of 1,651–1,691, with the price around 1,668 being the midpoint of the range, which isn’t ideal for FOMO Long/Short. Preferred view for the next 24 hours: MM likely has the potential to sweep down below 1,651, with deeper levels at 1,633–1,607, to take out the stop-loss of long positions and lure retail traders into a short breakdown. If after the sweep the price reclaims above 1,651–1,660, that signals a bear trap, and the priority is to look for a Long opportunity back up to 1,690 → 1,715.
Preferred setup with the best probability: wait for ETH to drop to 1,633–1,607, with a deep wick, then close M15/M30 reclaim above 1,651–1,660 for a Long with a safe SL at 1585; short-term TP: TP1 1,690, TP2 1,715, TP3 1,731–1,764. From 14:00 to 22:00, there could easily be a boundary sweep: either a drop to 1,651/1,633 or a rise to 1,690. If it breaks below 1,651 and doesn’t reclaim, don’t Long; at that point, ETH could continue down to 1,607 → 1,581.
ETH is currently stuck in a short-term range of 1,651–1,691, with the price around 1,668 being the midpoint of the range, which isn’t ideal for FOMO Long/Short. Preferred view for the next 24 hours: MM likely has the potential to sweep down below 1,651, with deeper levels at 1,633–1,607, to take out the stop-loss of long positions and lure retail traders into a short breakdown. If after the sweep the price reclaims above 1,651–1,660, that signals a bear trap, and the priority is to look for a Long opportunity back up to 1,690 → 1,715.
Preferred setup with the best probability: wait for ETH to drop to 1,633–1,607, with a deep wick, then close M15/M30 reclaim above 1,651–1,660 for a Long with a safe SL at 1585; short-term TP: TP1 1,690, TP2 1,715, TP3 1,731–1,764. From 14:00 to 22:00, there could easily be a boundary sweep: either a drop to 1,651/1,633 or a rise to 1,690. If it breaks below 1,651 and doesn’t reclaim, don’t Long; at that point, ETH could continue down to 1,607 → 1,581.