☕️ April 24th - Scalping - $ETH


- ETH on the H1 timeframe is in a weakened state after failing at the supply zone 2.4k - 2.45k.
- Previously had a bullish markup move ( but has now shifted to a sideways decline, forming lower highs → signs of losing upward momentum.
- Price structure shows many CHoCH (Change of Character) downtrends, no BOS (Break of Structure) to the upside yet → short-term bias leans toward bearish or weak accumulation.
- Money flow indicates selling pressure dominates: rebounds are quickly rejected at the supply zone, volume does not support a breakout upward. Smart money tends to sell at high prices and absorb liquidity below.
✅ Trading strategy:
- Prioritize SELL when the price retraces to the 2.34k - 2.4k )supply( zone, confirmed by weakening signals.
- Only consider BUY when a bottom sweep around ~2.26k occurs and a clear CHoCH bullish reversal appears. Avoid bottom guessing, wait for price action confirmation.
ETH-0.93%
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