1. Top123 Pattern Confirmation
The Top123 pattern is a reversal pattern:
Point 1: First high after a strong uptrend (recent swing high near $4,960–$5,000).
Point 2: Pullback low (around $4,370–$4,400 zone).
Point 3: Lower high rejection (below $4,700 resistance zone).
👉 Since price failed to create a new higher high and instead formed a lower high, the bullish momentum is weakening and signaling potential trend reversal.
2. Bearish Momentum Signs
Recent daily candles show strong selling pressure with long wicks and consecutive red candles.
Price rejected supply zone ($4,650–$4,700) → confirming seller dominance.
Break of support level around $4,400 increases the probability of a larger downside move.
3. Supply & Demand Structure
Price is currently retesting broken support as resistance (classic bearish structure).
Short entry zone aligns with the supply zone, which increases the probability of rejection.
Target zone is marked around $3,600–$3,550, which is the next strong demand/support level.
✅ Summary:
This ETH/USD daily setup is a potential short because:
Top123 pattern indicates trend reversal from bullish → bearish.
Bearish momentum visible with lower highs and supply zone rejection.
Price structure aligns with short entry near resistance and target at next demand zone.
Strong risk-to-reward ratio makes the trade favorable.
The Top123 pattern is a reversal pattern:
Point 1: First high after a strong uptrend (recent swing high near $4,960–$5,000).
Point 2: Pullback low (around $4,370–$4,400 zone).
Point 3: Lower high rejection (below $4,700 resistance zone).
👉 Since price failed to create a new higher high and instead formed a lower high, the bullish momentum is weakening and signaling potential trend reversal.
2. Bearish Momentum Signs
Recent daily candles show strong selling pressure with long wicks and consecutive red candles.
Price rejected supply zone ($4,650–$4,700) → confirming seller dominance.
Break of support level around $4,400 increases the probability of a larger downside move.
3. Supply & Demand Structure
Price is currently retesting broken support as resistance (classic bearish structure).
Short entry zone aligns with the supply zone, which increases the probability of rejection.
Target zone is marked around $3,600–$3,550, which is the next strong demand/support level.
✅ Summary:
This ETH/USD daily setup is a potential short because:
Top123 pattern indicates trend reversal from bullish → bearish.
Bearish momentum visible with lower highs and supply zone rejection.
Price structure aligns with short entry near resistance and target at next demand zone.
Strong risk-to-reward ratio makes the trade favorable.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.