ETH - sitting right at the fork 🔀
[UPDATE: already pushing through]
Picture's cleaner than last week. Price bounced from the $1560 lows and is now trading at $1807, up 8.3% — already pushing through that 1732-1760 FVG cluster and knocking on the door of the bigger one at 1840-1880. Below us: support at 1640-1680 and the prior week low at $1602.
So... scenario B is starting to look real. Straight push through with no pullback. The question now is whether this is genuine momentum or the "give hope, then take it away" setup.
The backdrop shifted in favor of alts: Iran-US de-escalation + deal signing on June 19 = risk-on mode, and BTC dominance dropping adds fuel for rotation. But as always, what matters isn't the move, it's HOW it happens. A sharp emotional spike here = countertrend trap territory.
Three scenarios still in play:
A: Sell to buy. Pullback into 1640-1680 to grab liquidity, then impulse through 1840-1880. Less likely now given the strength of this move.
B: Hope then reversal. We're already in this one. No pullback, straight through 1732-1760. Next test is 1840-1880. If we tag it and reverse hard back toward $1560, this is the "give hope, take it away" pattern playing out live.
C: The trap! Impulsive rip into 1840-1880, traps late longs at the top, then sharp reversal through $1560. If the deal turns out to be paper-thin. Fastest scenario if June 19 disappoints.
Staying synced with BTC, dominance, and the macro backdrop. The wildcard remains the deal - confirmed on the 19th = more room to run. Falls apart = this whole move gets retested hard. FED on June 17 sits right in that window too.
Watching 1840-1880 closely now. That's where this resolves
DYOR, not financial advice
$ETH #ETH #Trading
[UPDATE: already pushing through]
Picture's cleaner than last week. Price bounced from the $1560 lows and is now trading at $1807, up 8.3% — already pushing through that 1732-1760 FVG cluster and knocking on the door of the bigger one at 1840-1880. Below us: support at 1640-1680 and the prior week low at $1602.
So... scenario B is starting to look real. Straight push through with no pullback. The question now is whether this is genuine momentum or the "give hope, then take it away" setup.
The backdrop shifted in favor of alts: Iran-US de-escalation + deal signing on June 19 = risk-on mode, and BTC dominance dropping adds fuel for rotation. But as always, what matters isn't the move, it's HOW it happens. A sharp emotional spike here = countertrend trap territory.
Three scenarios still in play:
A: Sell to buy. Pullback into 1640-1680 to grab liquidity, then impulse through 1840-1880. Less likely now given the strength of this move.
B: Hope then reversal. We're already in this one. No pullback, straight through 1732-1760. Next test is 1840-1880. If we tag it and reverse hard back toward $1560, this is the "give hope, take it away" pattern playing out live.
C: The trap! Impulsive rip into 1840-1880, traps late longs at the top, then sharp reversal through $1560. If the deal turns out to be paper-thin. Fastest scenario if June 19 disappoints.
Staying synced with BTC, dominance, and the macro backdrop. The wildcard remains the deal - confirmed on the 19th = more room to run. Falls apart = this whole move gets retested hard. FED on June 17 sits right in that window too.
Watching 1840-1880 closely now. That's where this resolves
DYOR, not financial advice
$ETH #ETH #Trading