#ETH Weekly Plan

Similar to BTC, Ethereum has shifted into a bearish market structure on the daily timeframe. We recently broke below key support, confirming a Change of Character (CHoCH) just above $2,020.

The Outlook:
I am expecting a short-term relief bounce to retest the recent breakdown zone around $2,050. This area will act as premium resistance.

Once that retest is complete and price rejects, the primary target is the downside. The Market will look to sweep the unmitigated Sell-Side Liquidity (SSL) resting at $1,920 and $1,820, which sits perfectly inside the larger blue liquidity pool.

Invalidation:
This bearish thesis is completely invalidated if we get a clean daily candle close back above the $2100

Look for short setups on the bounce. Trade safe.

@cryptosignals