BINANCE:ETHUSDT.P   Ethereum / TetherUS PERPETUAL CONTRACT
Hi everyone!

We had an interesting week.

The market finally moved significantly.

What's now?

As of now we don't know yet if this is (was) a bear market rally - aka short squeez - or an upside break.

Until proven, I stay with the general market structure (ranging > shot resistance, long support).

Short idea reasoning:

1) Price at HTF resistance
2) LTF weakness in PA (descending triangle)
3) RSI up momentum is fading
4) (Demand) testing the lows of the "god candle" - highest volume candle
5) Clear invalidation

+and if this move was a change in the market structure, then a breakout retest is a reasonable expectation (previous ath, significant monthly close)

After that who knows, but the level just mentioned is the key:

A) Acceptance, and we should see higher prices
B) Break below after this rally, and we should see lower prices

As always,

GL & HF
Trading ditutup: stop tercapai:
stopped out

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