🧠 WYCKOFF LENS ON $ETH
🧱 Structure Overview
We’ve likely been in a re-accumulation range between ~$2,200 and ~$3,000 since Q1 2024. This range featured:
• Selling Climax (SC): ~$2,100 during a major dip.
• Automatic Rally (AR): Price rebounded toward ~$2,800–$2,900.
• Secondary Test (ST): Back down to ~$2,200–$2,400 with diminishing volume.
• Spring/Shakeout (optional): Slight fakeouts under support earlier this year.
• Sign of Strength (SOS): The breakout through $3,000 confirms this.
We’re now likely in Phase D — the markup phase — where ETH begins trending upward with higher highs and higher lows.
🔍 Current Phase: Phase D – Markup
• SOS (Sign of Strength): The breakout through $3,000 with high volume = textbook SOS.
• LPS (Last Point of Support): May show up as a retest of $2,950–$3,000 in coming days.
• Next Target Zone: If the structure plays out, ETH could test the upper range of $3,250–$3,500 soon.
🔄 Scenarios to Watch
🔁 Scenario 1: Bullish Retest
• ETH dips back toward $3,000 (former resistance)
• Volume decreases on the dip
• Buyers step back in → continuation
✅ Classic Wyckoff LPS → SOS → Markup to $3,400+
🔻 Scenario 2: False Breakout
• ETH fails to hold $3K on the retest
• Heavy selling pressure kicks in
• Drops back into the range → back to $2,700 or lower
🚨 Bear trap turns into bull trap — unlikely, but always watch for volume collapses
📈 Key Levels to Watch
$3,000 Must hold support (was major resistance)
$3,250 Next resistance cluster
$3,500–$3,600 Major breakout zone
$2,950–$2,970 Ideal retest entry zone
$2,700 If $3K fails — mid-range support
TL;DR
• We’re in Phase D of the Wyckoff cycle.
• $3,000 = the new battleground for bulls vs. bears.
• Short-term pullback? Very possible.
• Bigger picture? Bullish structure remains intact unless $3K fails
