Hope everyone’s doing alright. I mentioned earlier that we’d likely see a dump before the market closed today — and well, that’s exactly what we got. The amount of liquidations that just hit is wild (see screenshot 1).
The market swept all the liquidity sitting underneath us (screenshot 2). There’s basically nothing left on the lower side now. So I zoomed out to a higher timeframe (screenshot 3), and it’s showing a huge pocket of liquidity around $3300 and $3461.
If ETH manages to hold this level, we could see a quick “scam pump” over the next couple of days. My guess is the daily candle closes around here, everyone assumes the downtrend continues, and traders start piling into shorts. Then the market sends a sharp move upward and wipes them out.
We’ll see how it plays out.$ETH #Ethereum
