Currently Without Worries has a higher timeframe “short” opened on Ethereum since $3800. It was not popular.
Corrections in price action are never in a straight line, just as within a bull market.
At this moment in time on the above 8 day chart price action has not been this oversold since the bear market of 2018 with an RSI below 30.
The mindset of sellers today is 100% emotional.
What should you expect?
A rally to $2500, which is market structure.
This rally will draw in fresh exit liquidity and no doubt invite a number of spiteful public comments “You’re wrong!”.
Regardless, the chart is our News, a rejection from market structure will take price action down to the long anticipated forecast area of circa $700 (see below) and confirm the expected bull trap.
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.
