23d • ETH updates
ETH Saturday recap
Remember I said about last week weekly bearish engulfing candle.
This week was all about failed structure and patience.
Every bounce into resistance got sold.
The yellow trend line broke, retests failed, and price continued lower.
Weekly structure matters here.
Last week printed a bearish engulfing and this week followed through.
That tells you sellers are still in control on the higher timeframe.
We have now traded into the 2.7k demand zone.
This area has history and will attract bids.
But attraction is not confirmation.
So far, there is no bullish engulfing on the daily.
Until that prints, this is still a falling market.
Oversold conditions alone are not a signal.
3k – first resistance and prior range base
3.24k – daily structure reclaim
3.40k+ – weekly damage repair
2.7k – current demand zone
2.62k – next major support
2.5k – liquidity pocket if weakness continues
2.09k – HTF extreme, only if panic hits
How to approach next week
I hope no one is holding right now.
If you’re sidelined, this is clean.
Wait for a daily bullish engulfing to mark a local bottom.
Then look for follow-through and reclaim of 3k.
Big picture stays intact as long as 2.6k holds.
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ETH Saturday recap
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