ETH 2800/2950 consolidation and buy area, could see 2.7K area
the FOMC hawkishness didn't do good to any risk asset and Crypto definitely behaving more like it as years pass .. Definitely in a downtrend the past few days, we are approaching the 50% retracement of previous impulse which should definitely be a good area to start buying.
Funding on binance bounced back to the usual 0.01% from flattish the past few days, although seeing 20K eth less in open interest on the first selloff after 11PM london time, which suggest a liquidation. On a bigger timeframe, we can see that 10K btc have been added in OI the past 4 days which is quite bullish although the trend turning down. For those reasons, I suspect we will see a big red candle (15/20% down) in a day which will be an amazing time to buy
Open interest: binance.com/en/futures/funding-history/4
Buy zone : 2800 - 2950
additional limit order : 2700
Funding on binance bounced back to the usual 0.01% from flattish the past few days, although seeing 20K eth less in open interest on the first selloff after 11PM london time, which suggest a liquidation. On a bigger timeframe, we can see that 10K btc have been added in OI the past 4 days which is quite bullish although the trend turning down. For those reasons, I suspect we will see a big red candle (15/20% down) in a day which will be an amazing time to buy
Open interest: binance.com/en/futures/funding-history/4
Buy zone : 2800 - 2950
additional limit order : 2700
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