#ETH “Bart Simpson” Alert on Binance Perp
Hey everyone, heads up on ETH/USDT—price just formed a classic Bart Simpson pattern (pump → sideways top hat → dump). Here’s what went down and what to watch next:
1. The Setup
Ramp Up: ETH rocketed from around $1,700 to $2,600+ in a single green candle.
Top Hat: Price then chopped sideways between $2,600–$2,800 for several days—perfect “flat head.”
Rug Pull: The market flipped: steep red candles dropped ETH back toward $2,400.
2. Key Levels
Resistance:
$2,560–$2,600 (former mid‐range)
$2,789 (recent high)
Support:
$2,440 (lower Bollinger‐Band)
$2,338–$2,300 (next zone)
3. Momentum & Indicators
Bollinger Bands: Price is now below the 20‐day midline ($2,440).
MACD: Bearish crossover—MACD line below signal line, histogram in negative territory.
Volume: Buying volume fizzled during the sideways top, now low volume on bounces—momentum is waning.
4. Trade Idea (Not Financial Advice)
Short Entry: $2,560–$2,600 zone (ideally near the 20‐day MA or upper range).
Stop Loss: Above $2,630 (conservative) or $2,700 (aggressive).
Targets:
1. $2,440 (first support, lower band)
2. $2,338–$2,300 (stronger liquidity zone)
3. If breakdown extends, look down toward $2,200–$2,000 area.
5. Why It Matters
Bart Simpson patterns often trap retail FOMO—big ramp sucks in leveraged longs, then smart money sells into that strength. Once price breaks below $2,565, downside acceleration is likely.
What to Do Now
If you believe the Bart pattern will play out, watch for a bounce back into $2,560–$2,600. That’s your potential short zone.
Keep an eye on volume: if selling picks up around $2,565, that confirms lower odds of a sustained rally.
Always use proper risk management—this isn’t a long‐term hold; it’s a swing setup designed to capitalize on momentum shift.