ETH - Bearish Reversal Expected from FVG Zone

30 Mac

In this 1-hour chart analysis of ETHUSDT on Bybit, we observe a potential price reaction from a Fair Value Gap (FVG) zone. The current downtrend has left an imbalance in the market, and price is retracing towards the 0.618 - 0.65 Fibonacci retracement levels, which align with the FVG area.

Key Observations:
🔹 Market Structure: The price is in a bearish trend, forming lower highs and lower lows.
🔹 FVG & Fibonacci Confluence: A strong resistance zone is marked within the $1,980 - $2,000 range, coinciding with the Golden Pocket (0.618 - 0.65 Fib levels).
🔹 Expected Price Action:
- A bullish retracement (green path) into the FVG zone.
- A rejection from this resistance area, leading to a continuation of the downtrend (red paths).
- Potential targets for the drop are around $1,860 - $1,800, aligning with previous liquidity zones.

Trading Plan:
📌 Short Entry: Around $1,980 - $2,000 if rejection signs appear.
📌 Stop Loss: Above $2,020 to invalidate the bearish setup.
📌 Target: $1,860 - $1,800 based on historical support levels.

This idea is based on market imbalance and liquidity dynamics, so watching for confirmation before entering a trade is crucial. 🚀🔍

30 Mac

Dagangan aktif

stil falling due to BTC drop, trade could still play out...