ANALYSIS #ETH ON 06/19: THE DUMP AT 1,671 IS A FINAL TRAP OR IS ETH GOING TO GET CRUSHED MORE?
ETH is currently hovering around 1,710–1,715, sitting in the middle of a range, so it’s not a sweet spot to FOMO Long/Short. Across multiple timeframes, ETH hasn't entered a true Markup phase yet; the larger structure is late Markdown / early Accumulation that hasn't been confirmed. The key zone to watch over the next 24 hours is 1,671–1,804.
MM perspective: prices are likely to continue sweeping liquidity from both ends. The most probable scenario is that MM will dump the price back down to test buying pressure: 1,700 - 1,685 - 1,671, and then if it reclaims back to 1,700–1,705, it could easily bounce to 1,728 - 1,748–1,762. If the price shoots straight up to 1,748–1,762 without closing H1 above this zone, that’s likely a Long trap, and it might drop back to 1,722 / 1,700. The deep wick above to keep an eye on is 1,796–1,804.
Bro, wait for ETH to dip down to 1,671–1,685, and then we need to see a reclaim at 1,700–1,705 before going Long. Don’t catch the falling knife. Ideal entry: 1,685–1,705 after the reclaim. Technical SL below 1,638; t. TP1: 1,728. TP2: 1,748–1,762. TP3: 1,796–1,804 if the market squeezes hard.
3-week view: if ETH can hold 1,604–1,671, there’s a high chance it will continue to accumulate and then retest 1,804–1,849. Breaking and holding above 1,849 would open the path to 1,944–2,047. Conversely, if H4/D closes below 1,604, the accumulation structure fails, and the target below is 1,508, even deeper at 1,415.
Conclusion: stay on the sidelines at the current price. The best setup is to go Long after a deep dump + reclaim at 1,700, don’t FOMO into the 1,705–1,730 zone.
ETH is currently hovering around 1,710–1,715, sitting in the middle of a range, so it’s not a sweet spot to FOMO Long/Short. Across multiple timeframes, ETH hasn't entered a true Markup phase yet; the larger structure is late Markdown / early Accumulation that hasn't been confirmed. The key zone to watch over the next 24 hours is 1,671–1,804.
MM perspective: prices are likely to continue sweeping liquidity from both ends. The most probable scenario is that MM will dump the price back down to test buying pressure: 1,700 - 1,685 - 1,671, and then if it reclaims back to 1,700–1,705, it could easily bounce to 1,728 - 1,748–1,762. If the price shoots straight up to 1,748–1,762 without closing H1 above this zone, that’s likely a Long trap, and it might drop back to 1,722 / 1,700. The deep wick above to keep an eye on is 1,796–1,804.
Bro, wait for ETH to dip down to 1,671–1,685, and then we need to see a reclaim at 1,700–1,705 before going Long. Don’t catch the falling knife. Ideal entry: 1,685–1,705 after the reclaim. Technical SL below 1,638; t. TP1: 1,728. TP2: 1,748–1,762. TP3: 1,796–1,804 if the market squeezes hard.
3-week view: if ETH can hold 1,604–1,671, there’s a high chance it will continue to accumulate and then retest 1,804–1,849. Breaking and holding above 1,849 would open the path to 1,944–2,047. Conversely, if H4/D closes below 1,604, the accumulation structure fails, and the target below is 1,508, even deeper at 1,415.
Conclusion: stay on the sidelines at the current price. The best setup is to go Long after a deep dump + reclaim at 1,700, don’t FOMO into the 1,705–1,730 zone.