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Is $ETH about to break its floor or is this just another trap?
We’re sitting at 1,978 right now and things are looking a bit heavy. This 6% drop today isn't just noise. We’ve been ranging since that big dump in early February and we just failed to stay above the 2,100 level again.
The volume is decent but the bears are clearly in control of this candle. If we don’t find some solid bidding soon, we might be looking at a retest of that 1,747 local bottom.
The order book is actually leaning slightly bullish at 53% on the buy side, but the price action says otherwise. It’s a messy zone.
I’m staying patient here. I want to see if we hold 1,900 on the daily close before even thinking about a long. Don't catch falling knives.
#CulperResearchOpenlyShortsETH