#Ethereum Update:
Today was the first day ETH ETFs were traded.
The price of ETH is now correcting because this news is already known and has become just a formality.
What’s important about these ETFs are the volumes, which in the case of the #BTCETF approval initially put selling pressure on the market, followed by a larger upward movement.
I have two scenarios for this 1-day (1D) timeframe:
🟢 Green Scenario (Bullish): Possible recovery and increase in the coming days.
⚫ Black Scenario (Bearish): Short-term correction, but potentially very bullish in the medium term because a lot of liquidity has formed in that marked area and we also have an FVG (imbalance) on the W timeframe + resistance on that parallel channel.
Watch the market closely 3100-3300 and consider these scenarios in your trading strategies!
The price of ETH is now correcting because this news is already known and has become just a formality.
What’s important about these ETFs are the volumes, which in the case of the #BTCETF approval initially put selling pressure on the market, followed by a larger upward movement.
I have two scenarios for this 1-day (1D) timeframe:
🟢 Green Scenario (Bullish): Possible recovery and increase in the coming days.
⚫ Black Scenario (Bearish): Short-term correction, but potentially very bullish in the medium term because a lot of liquidity has formed in that marked area and we also have an FVG (imbalance) on the W timeframe + resistance on that parallel channel.
Watch the market closely 3100-3300 and consider these scenarios in your trading strategies!
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