ETHUSDT SHORT, my honest opinion amid fundamental chaos
Hi traders and followers.
Wanted to update you on the ETH price action (stagnant during the Week-End) but showing some hints on what may come.
I am going to prioritize the bearish scenario on all of the 3 possibilities, mainly because we are closed below a 1h orderblock that has been confirmed once and because we closed below my trusty 0.33 FIB.
White scenario - the most "boring" i might say, with the price action zig zagging between the block and 0.5 , can transition into a yellow scenario
Yellow scenario - Clear break of the 0.5 and straight to 0.66 (as a reminder i use closes below equidistant extremes as targets in this case 0.33 and 0.66) , moderate price action
Orange scenario - Most violent of them all , clear break through 0.5 with a possible stop at 0.66 then straight to test the lows, including the 1h supportive orderblock
The volume should be picking up with the beginning of the Asian session and we might have some interesting price action going into the overlap.
Stay safe.
Wanted to update you on the ETH price action (stagnant during the Week-End) but showing some hints on what may come.
I am going to prioritize the bearish scenario on all of the 3 possibilities, mainly because we are closed below a 1h orderblock that has been confirmed once and because we closed below my trusty 0.33 FIB.
White scenario - the most "boring" i might say, with the price action zig zagging between the block and 0.5 , can transition into a yellow scenario
Yellow scenario - Clear break of the 0.5 and straight to 0.66 (as a reminder i use closes below equidistant extremes as targets in this case 0.33 and 0.66) , moderate price action
Orange scenario - Most violent of them all , clear break through 0.5 with a possible stop at 0.66 then straight to test the lows, including the 1h supportive orderblock
The volume should be picking up with the beginning of the Asian session and we might have some interesting price action going into the overlap.
Stay safe.
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