🚨 ENTRY FIRST – THIS LEVEL DECIDES EVERYTHING 🚨
SELL ZONE: 2,050 – 2,120
TP1: 1,970
TP2: 1,830
TP3: 1,650
SL: 2,200
ALTERNATIVE BUY (only if breakout confirmed): Above 2,200 retest
TP: 2,385 – 2,500
SL: 2,050
The structure on Ethereum / USD (H4) is a textbook descending channel, and price is respecting it with brutal precision. Every bounce is weaker than the previous one — a clear sign of bearish continuation, not accumulation.
What most traders are missing: this isn’t just a dip… it’s a controlled bleed. The rejection from the 0.236–0.382 Fibonacci zone aligns perfectly with the channel resistance, confirming confluence selling pressure. Meanwhile, MFI is sitting near oversold — but no real bullish divergence → meaning buyers are still weak.
The key level? 1,969 support. If this breaks cleanly, liquidity below gets hunted fast → opening a path toward 1,830 and even 1,650. That’s where panic usually peaks.
But here’s the controversial take: if price reclaims 2,200, this entire bearish structure gets invalidated instantly — and we could witness a violent short squeeze back to 2,385+.
👉 So ask yourself: Are you buying a “discount”… or catching a falling knife?
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