Community ideas
Time Sensitive: Buy Zone ActivatedSolana's long-term buy zone has been activated. This activation is happening culminating four weeks of bearish action. The chart looks good.
There is room for lower prices and the test of EMA55 as support. Looking at the weekly volume, it is likely that a resumption of the bullish wave goes next. But there is still possibility for lower. The probabilities are higher for a resumption of the bullish wave rather than the continuation of the correction.
The retrace turned into a correction.
The correction opens the doors for new buying at reasonable prices.
The correction creates a new LONG opportunity.
We are going LONG on SOLUSDT now with high leverage.
The dynamics for the upcoming wave should be the same as the previous one. Several months greens followed by another retrace and then additional growth.
We are set to experience long-term growth.
We are already within this long-term growth phase.
Solana has been growing since December 2022.
Short-term, Solana has been growing since August 2024.
Higher highs and higher lows.
This trend is set to continue for an undefined length of time.
Are you bullish on Crypto?
If yes, you are smart.
If no... Huuuhhh, I don't know.
I am wishing you tons of success... And huge profits.
Thank you for reading.
Namaste.
BTC/USDT Analysis: Is a Key Reversal Brewing?Bitcoin's price action continues to intrigue traders as it consolidates within an ascending channel on the 4-hour timeframe. The recent rejection from the channel's upper boundary at $108,000 indicates that bearish pressure might dominate the short term. Currently, BTC trades around $101,450, testing a critical support level near $102,000.
Key Observations:
Ascending Channel in Play: The structure highlights an upward trend, with BTC respecting both the upper and lower boundaries of the channel. The dotted midline has acted as a dynamic pivot, influencing price movement over recent weeks.
Bearish Breakdown Potential: A clear break below $102,000 could lead BTC toward the next significant horizontal support at $98,236. This level aligns closely with the channel's lower boundary, making it a crucial zone for bulls to defend.
Key Resistance Zone: If bulls manage to reclaim $103,000, BTC could retest the midline or even the $106,000 level. However, failure to sustain above the $102,000 support could accelerate a bearish trend.
RSI Divergence: Hidden bearish divergence on the RSI suggests weakening bullish momentum, supporting the case for a deeper correction.
Expected Scenarios:
A retest of $98,000 would provide an excellent opportunity for bullish accumulation within the channel structure.
If the price rebounds from the lower boundary, bulls may aim for $106,000-$108,000 in the medium term.
A confirmed breakdown below $98,000 might invalidate the channel, opening doors for further downside to $94,000.
BTCUSDT high sell pressure zone and strong resistances are aheadAs we said before we may have more 10% rise from 100K$ to the targets like 110K$ but soon we are looking for first phase of dump like red arrows mentioned on the chart and soon high volume Bear candles will dump market for a while.
DISCLAIMER: ((trade based on your own decision))
<<press like👍 if you enjoy💚
GOLD ROUTE MAP UPDATEHey Everyone,
What can I say...we totally smashed the pips today !!!
Our chart idea and levels were respected perfectly allowing us to track the movement down with ema5 cross and lock confirmations on our weighted levels, giving us the bounces.
The break from the retracement range opened and completed the swing range, which did exactly what it says on the tin giving us the full swing, which we were able to catch for a clean 280pips!!
The beauty of our strategy to buy dips from our weighted levels allows us to catch pips regardless which way the market goes.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2666
EMA5 CROSS AND LOCK ABOVE 2666 WILL OPEN THE FOLLOWING BULLISH TARGET
2682
EMA5 CROSS AND LOCK ABOVE 2682 WILL OPEN THE FOLLOWING BULLISH TARGET
2697
EMA5 CROSS AND LOCK ABOVE 2697 WILL OPEN THE FOLLOWING BULLISH TARGET
2719
BEARISH TARGETS
2645 - DONE
EMA5 CROSS AND LOCK BELOW 2645 WILL OPEN THE FOLLOWING BEARISH TARGET
2628 - DONE
EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE
SWING RANGE
2606 - 2586 - DONE
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
TradeCityPro | Theta : Navigating Deep Corrections👋 Welcome to TradeCityPro!
In this analysis, I will examine Theta in both the weekly and daily timeframes, providing a detailed breakdown of its market dynamics and critical levels.
📅 Weekly Timeframe: Price Reaches Supply Zone Again
In the weekly timeframe, after forming a bottom structure around the $0.58 level, Theta initiated its first bullish wave, reaching the supply zone between $3.251 and $4.184 for the first time in this uptrend cycle.
🔍 Following the initial test of this resistance, the price corrected and established a higher low at $1.009, reinforcing its support. With the breakout above $1.654, the next bullish wave towards the supply zone began.
🚀 Currently, the price has been rejected from this supply zone with significant selling volume and has pulled back to $1.654. Sustained bullish momentum, characterized by sharp upward movements and dominant green candles, will require a breakout and consolidation above the supply zone.
✅ Upon clearing this resistance, Theta could rally towards the ATH at $12.978, with potential for further targets and a new ATH if $12.978 is surpassed.
🔽 A break below RSI 50 may lead to continued corrections, potentially revisiting $1.009. Despite this, as long as the price holds above $1.009, the market outlook remains bullish. Confirmation of a trend reversal would occur with a breakdown of this level, targeting the key $0.58 support, which remains a critical demand zone.
📈 RSI support at 50 and renewed buying volume could propel the price back towards the supply zone with stronger momentum.
📅 Daily Timeframe: Deep Correction in Progress
On the daily chart, the most recent bullish wave is visible in greater detail. Applying a Fibonacci Retracement, the price initially corrected to the 0.382 level, followed by a deeper correction after breaking the $2.257 low, extending to the 0.618 Fibonacci level.
📉 If the correction continues, the final retracement level, 0.786 Fibonacci, aligns with the $1.628 support, forming a Potential Reversal Zone (PRZ). A failure to hold $1.628 could see the price drop to $1.009, as noted in the weekly analysis.
Currently, bearish volume is increasing, signaling potential challenges for a bullish recovery in the short term.
🔼 A bullish breakout would require strong buying volume, but opening long positions near the supply zone carries significant risk. Instead, consider entering positions at lower levels where price action provides a clear trigger to reduce stress as the price approaches the supply zone.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️ above.
Most traders on social media are liarsInvesting can be one of the most powerful ways to build wealth.
But let’s face it—most investments come with a ton of headaches.
Running a business? Long hours, high risks, and endless stress.
Real estate? It’s capital-intensive, requires constant management, and tenants can be a nightmare.
That’s why, for many people, simply investing in the S&P 500 ( SP:SPX ) or CRYPTOCAP:BTC can be a better choice.
Over the long term, the SP:SPX has delivered average annual returns of about 8–10%, with minimal effort (even more than that in 2024).
No tenants.
No employees.
No need to monitor charts or markets daily.
Just consistent, compounding growth over time.
Now, here’s where it gets interesting.
Trading —when done right—has the potential to outperform SPX investing.
While the SPX provides solid, steady returns, traders who master their craft can potentially achieve far higher percentages.
But—and this is a huge “but”—most people who try trading fail miserably.
And part of the reason is simple: the trading world is full of lies, scams, and fake promises.
In this article, I’ll break down exactly why most traders are liars and why the only person you should trust in this game is yourself.
If you’re considering trading or looking to spot the frauds, this is for you.
Social media is flooded with “gurus” flaunting perfect results and luxury lifestyles.
But here’s the hard truth: most of them are lying to you.
If you’re not careful, you’ll fall for their tricks, waste your money, and damage your confidence.
Let’s break it down so you understand exactly how these so-called traders operate.
Only Winning Trades? Think Again
Scroll through Instagram or YouTube.
All you see are screenshots of winning trades.
Huge profits like “+200% in a day” or “$5,000 profit this morning while drinking coffee.”
But ask yourself: why do you never see their losing trades?
The reality is, every trader loses—yes, even the best in the world.
There’s no such thing as a 100% win rate in trading.
What these people do is simple:
They take a ton of trades, show you only the winning ones, and bury the losses.
It’s called cherry-picking, and it’s incredibly deceptive.
This tactic lets them sell an illusion of success.
And that illusion helps them build their brand and sell you courses, signals, or mentorship.
Don’t fall for the fake perfection.
If they only show wins, they’re hiding something.
Are These Even Real Trades?
Here’s another problem: how do you know they actually took those trades?
Spoiler: you don’t.
Many of these traders don’t actually trade the markets.
Instead, they analyze the chart after the move has already happened.
Then, they post a screenshot and act like they predicted it all along.
Others use demo accounts.
These are practice accounts where you trade fake money.
They can show massive profits on a demo account without risking a single dollar.
The kicker? Most people can’t tell the difference between a real account and a demo.
And then there’s the outright faking.
They use tools like Photoshop to edit screenshots of their trades.
Or they manipulate their accounts to show inflated results.
Trust me, it’s easier to fake than you think.
If someone shows you a perfect trade, ask for proof.
Ask to see the full trading history, not just one cherry-picked example.
Paid to Lie
A lot of these so-called traders aren’t making money from trading at all.
They’re making money from you.
Here’s how:
1. Broker commissions:
Many traders work as affiliates for brokers.
For every new trader they bring in, they earn a percentage of your trading fees.
Their job isn’t to teach you or help you make money.
Their job is to get you trading as much as possible.
2. Crypto shilling:
Crypto projects pay influencers to promote their coins.
These traders post “bullish” analysis to get you to buy.
Once the hype drives the price up, the project dumps their tokens, and you lose money.
Their motivation isn’t your success.
It’s their profit.
If someone’s making money off your trades, question everything they say.
Don’t Believe Their Track Records
“But what about their track record? It looks legit!”
Listen carefully: track records can’t be trusted.
Here’s why:
1. Demo accounts:
Many traders show results from demo accounts, not real money.
There’s zero risk involved, so they can take wild trades and show massive gains.
It’s not real.
2. Photoshop and manipulation:
Even real accounts can be faked with editing tools.
Some traders manipulate their account history to hide losses and exaggerate wins.
3. Past performance means nothing:
Even if the track record is real, it doesn’t guarantee future success.
Markets change, and strategies that worked yesterday might fail tomorrow.
Don’t trust numbers on a screen.
If they can’t show you live, verifiable results, don’t take them seriously.
Trust No One—Not Even Me
Here’s the most important lesson: don’t trust anyone in trading.
Not the “gurus.”
Not their flashy results.
Not their promises of easy success.
And yes, that includes me.
Don’t even trust what I’m saying right now.
Why?
Because the only person who truly cares about your success is you.
I don’t want you to blindly trust me.
I want you to think for yourself.
Learn how to trade on your own.
Build your own strategies, develop your own edge, and question everything.
If it looks too good to be true, it probably is.
The only person you can fully trust in trading is yourself.
Because only you truly want yourself to get richer.
Final Thoughts
Trading isn’t a shortcut to wealth.
It’s a skill that takes time, effort, and constant learning.
The internet is full of liars, scammers, and people trying to profit off your dreams.
Protect yourself.
Don’t believe the hype.
And most importantly, trust only yourself to guide your trading journey.
Because in the end, your success depends on you—and no one else.
Thank you for reading (I needed to let off some steam ^^)
Daveatt
EUR/USD long: Thank you first buddy!Yup, the heading of this idea is very much tongue in cheek.
The Euro is fundamentally on the backfoot, especially after the confusing FOMC "we are slowing down while walking into this dark room" rate cut. WTH??? No need to cut because the Labor market is A OK, but we are cutting anyway because inflation may increase again. Call me dumb but I replayed that Press Conference over and over again.
My take away: The FOMC is very aware of the impact after January 20 2024. The former guy is back and this time around he is bringing his new best friend along for the ride. Well, we all know how these bromances work out in his world. They don't last but up until then, they are already starting to cause chaos as they go along.
Democrats and some Republicans have been raising the alarm about our democracy being under attack for some time now. There you have it. The second generation American and the Naturalized immigrant citizen are now running our beloved United States. The first mentioned not even in office yet and the other one not an elected official. But they bad mouth immigrants like these people are the spawn of the devil, conveniently forgetting their own roots. Between the two of them the have the money and social media resources to tank the current spending bill negotiations and they did so with glee.
I am certainly not anti immigration because immigrants are still the backbone of our economy. Why do you think is the Labor market so strong? Because a significant percentage of the reported 10 million plus recent immigrants are willing to work in slaughter houses, scrub floors, pick oranges for the Mar-A-Lago guests' freshly squeezed juice, clean Wall Street offices at 2 AM and so on.
I am also not anti cutting unnecessary Government spending but this is not Twitter. The individuals who will be affected won't be Musk and his numerous children or Trump living in luxury in Mar-A-Lago. It will be our Military Troops, the same people who defend us and sacrifice their lives for our country and quite frankly the International Order who will not have a pay check next week. And they do not plead bone spurs to avoid duty to their country...
Our TSA agents and air traffic controllers who will have to work with deferred pay to get us to our Holiday destinations to be with family.
In case, dear colleagues, you have not noticed: I AM FURIOUS at the current state of affairs and incomprehensible hypocrisy and blatant cronyism in this country. Musk stands to gain more than anyone else from this cozy relationship. Space X Federal contacts, removing self driving regulations, stopping numerous active investigations into his businesses, boosting his crypto investments etc. If you, dear reader, is a fan-boy/girl, have at it. I do not put my money in the hands or pockets of people like these two.
Technically, the chart should explain my reasoning. So far, the recent low has been respected. Some indicators are turning up. We also have USD PCE on tap tomorrow. And investors DO NOT like uncertainty like the potential Government shutdown by tomorrow night.
There is also a break down level that has to be revisited per the resistance zone on the chart. This is not a change in trend but merely a technical correction if it plays out.
BTW, I am also short AUD/JPY as a technical correction. My long EUR/USD from the lows and short from the 1.0420 level have played out profitably. And I am long EUR/USD again.
Finally, Happy Holidays and have a rocking 2025 trading around and through the guaranteed chaos.
Gold Spot Analysis: Crown Pattern Signals Potential ReversalGold's recent price action on the 4-hour chart has unfolded into a fascinating Crown Pattern, hinting at a potential bearish continuation. This pattern, often associated with trend reversals, presents a compelling opportunity for traders to position themselves for the next move. Currently trading at $2,614, gold appears to be forming a consolidation phase within a descending triangle, signaling growing bearish momentum.
Key Observations:
Crown Pattern Formation:
The clearly defined Crown Pattern suggests the exhaustion of the recent bullish wave. The structure follows classic measurements, with XA and DG ratios aligning closely with textbook values.
The neckline at $2,630 has already been breached, solidifying the bearish outlook.
Descending Triangle:
Gold is consolidating within a descending triangle just below the neckline, with lower highs and a flat support line. A decisive break below $2,596 could trigger further declines.
Key Support Zone:
Immediate support lies at $2,554.55, coinciding with the Crown Pattern's projection target. This level will be crucial for bears to maintain their dominance.
Bearish Momentum:
Momentum indicators, combined with volume analysis, show waning buying pressure, further reinforcing the likelihood of a downward move.
-------------------------------------------
Expected Scenarios:
Bearish Continuation: A breakdown below the descending triangle at $2,596 could pave the way for a decline toward $2,554 and potentially lower.
Bullish Reversal Invalidated: If gold manages to break above $2,630 and sustain above this key level, the bearish outlook will be invalidated, opening the door for a retest of $2,670.
Hellena | EUR/USD (4H): Short to Support area 1.02539.Dear Colleagues, due to the recent sharp price movement, I have redrawn the waves and now I see the completion of the five-wave impulse in the wave “5” of higher order.
I expect that the price should update the nearest local minimum of the wave “3” 1.03350.
I expect the price to reach at least the area of 1.02539.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Total3 dumping, BTC crash. The untold reason.You'll hear it all over Twitter and YouTube: "The FED scared investors, and they decided to pull their money out, blah blah."
Let's be real—that's utter nonsense.
Investors had no real reason to pull money out of altcoins. Where would they move it to? The real story lies with the whales manipulating CRYPTOCAP:BTC to trap the ones who sold their CRYPTOCAP:BTC too early..
Here’s what really happened: we had a mini altseason, where many CRYPTOCAP:BTC holders took profits and shifted into altcoins. This caused a pump in CRYPTOCAP:TOTAL3 and a drop in BTC.D.
But then, to punish these moves and siphon off profits, the whales decided to crash CRYPTOCAP:BTC , conveniently using the FOMC as a cover.
If you sold CRYPTOCAP:BTC at, say, 100k and moved into riskier assets like SEED_DONKEYDAN_MARKET_CAP:FLOKI , SEED_DONKEYDAN_MARKET_CAP:BONK , or CRYPTOCAP:UNI , the whales made you lose 40%-50% of your capital by dumping CRYPTOCAP:BTC just 10%. Where did that lost value go? Straight into their pockets.
I know people who thought they were being clever, saying, "This is the peak; I'm moving to alts for x2 or x3 gains." Now they’ve lost 50% and are kicking themselves, wishing they’d never sold their $BTC.
This isn’t random. It’s not a coincidence. It’s a coordinated play to vacuum up the profits from anyone thinking they could outsmart the system.
DYOR.
HelenP. I Bitcoin can make correction and then continue growHi folks today I'm prepared for you Bitcoin analytics. In the chart, we can see how the price fell to the support level and some time traded near it and later broke this level and continued to decline to the trend line. After this movement, the price turned around and made impulse up, thereby reaching the 99500 level one more time and soon broke it again. Later, the price some time traded near this level and then continued to move up to the resistance level, which coincided with the resistance zone. When the price reached this level, it first made the correction and then made an impulse up, breaking the resistance level. After this, the price reached a new ATH (108K points) and then dropped to the trend line, breaking the resistance level again. Soon, BTC broke the trend line and fell to the support level, but a not long time ago it rebounded and started to move up. For this case, I expect that BTCUSDT will make small corrections and then continue to move up to the resistance level. That's why I set my goal at 105000 level. If you like my analytics you may support me with your like/comment ❤️
Xrp - The New +400% Bullish Triangle!Xrp ( CRYPTO:XRPUSD ) is creating another bullish triangle:
Click chart above to see the detailed analysis👆🏻
Despite the recent rally of +300% on Xrp, this crypto coin is still totally bullish. However at the moment, Xrp is starting to reject a quite significant all time high resistance level. We could see another drop lower from here before bulls will take over again and eventually create new highs.
Levels to watch: $2.0, $10.0
Keep your long term vision,
Philip (BasicTrading)
SPX 2025 Strategic Outlook 7150 points Wave Five Bull Market🔸Time to update the SPX outlook, this is 2D price chart, we are
currently entering overpriced zone and limited upside in SPX
going forward next few weeks correction / pullback.
🔸SPX price structure since 2023 is defined by a five wave impulse wave 3 completed already and currently we are in wave 4 pullback/correction until 5415 points. expecting wave four pullback to complete in January 2025.
🔸Wave 1 is 3600 to 4625, wave two 4625 to 4125, wave three 4125 to 6100,wave 4 pullback/correction now is 6100 to 5416, final bullish wave five is expected to start from 5415 to 7150 points (30% bull run). Wave 5 expected to start in January 2025 and complete sometime in Q4 2025. A/B/C 40% correction will follow as the market will enter extremely overbought zone.
🔸Recommended strategy position traders: wait for the wave 4 correction to complete at/near 5415 points in January 2025 and then BUY/HOLD into wave 5 final target is 7150 points in Q4 2025. Obviously, this is a longer BUY/HOLD trade setup and patience is required with this trade. good luck!
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RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
TradeCityPro | MAGICUSDT Market Correction and Fear!👋 Welcome to TradeCityPro Channel!
Let’s take a look together at a so-called bloody day in the market, as some friends call it, with a quick glance at the chart to analyze the events and help you make more thoughtful decisions without acting on your emotions.
🌟 Bitcoin Overview
Before starting the analysis, as usual, let’s take a look at Bitcoin. On the 1-hour timeframe, Bitcoin is experiencing red candles with high volume, indicating that it is currently correcting on its higher timeframe.
However, this event is accompanied by an increase in Bitcoin dominance, leading to more significant altcoin sell-offs. Naturally, altcoins are seeing larger red candles and experiencing steeper declines. But does this mean that the trend is changing?
From my perspective, no, and as long as Bitcoin remains above $80,000, we are still bullish and have no reason to exit. These red candles are merely corrections, which are entirely natural, as the market hasn’t seen any significant profit-taking since Bitcoin broke above $73,000. Make logical decisions, and during a bull market, don’t sell your assets prematurely unless they hit your predefined levels.
🌞 Daily Timeframe
On the daily timeframe, MAGIC broke out of its 112-day range and resistance at $0.4302, moving toward the $0.7130 resistance, almost matching the size of its previous range.
Typically, the risk-to-reward ratio of patterns leads to the formation of significant support or resistance levels, shaping collective decisions.
After facing rejection and forming a lower high, MAGIC broke below $0.5573 and returned to the weekly box and support at $0.4302, which can act as a strong support for slowing down the bearish momentum and reversing it.
Currently, bearish momentum remains strong, and I refrain from buying during declines. However, if the support fails or the RSI re-enters its range, this could serve as a trigger for entry. For now, I prefer to watch, and if there is a significant reversal candle, it will be a pleasant surprise due to the strong momentum, with my stop-loss level already defined.
These conditions occur in bull markets and are completely natural. So, avoid FOMO and don’t let your emotions guide your decisions.
Practice risk and capital management, follow the analyses, and define your levels. For example, as long as Bitcoin remains above $80,000, I won’t sell and will even look for entry triggers. Futures positions currently make little sense, but if you have any, be sure to take profits and avoid greed!
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Bearish drop?USD/JPY is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance.
Pivot: 155.72
1st Support: 154.28
1st Resistance: 157.72
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The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
THIS IS A FAKE OUT IMO! BUY THE DIPNASDAQ:QQQ AMEX:SPY AMEX:IWM
THIS IS A FAKE OUT! BUY THE DIP 👇
-Strong Economic Fundamentals
-Hawkish FED spreading FUD
-Same Government shutdown scares every year
-2T+ in options (mostly call) expiring today
-Gains being pressured to be sold for 24 taxes
-Scare meme coin & gambler bro's out the markets
-Incoming party is for business & the stock market
-VIX spiked faster than Japanese trade crisis
-Inflation still coming down
-AI is still strong and a catalyst
-Company earnings are still hefty
-Global markets are curling up not down
All of these reasons explain my point of this being a FAKE OUT. I will be buying this DIP because I see nothing CONCRETE! All I see is that the market maker and FED Chair Powell teamed up to be the GRINCH & SCROOGE this Holiday season. Not financial advice.
ETH Bullish and Bearish scenariosETH Support and Resistance Analysis
The support level for ETH is currently between 3082.97 and 2941.77. A weekly candle close below 2941.77 would be considered bearish. Ideally, we want to see a bounce off this support level, which could then lead to another attempt to break through the resistance of 3971.58.