$ETH - Rejected Once - Liquidity Below to Attack *SMT*
Updated
In the 4 hour Time Frame there is a Breaker formation (Low, High, Lower Low) (Pictured here) 
which usually implicates Smart Money (Deep Pockets) have pressed the chart down so hard that it got retail traders to sell along with it. It get's to a price that is attractive enough for Smart Money to buy up a lot to run the price up. As it breaks the swing high Smart Money then sells to make a profit which causes the price to drop. The price drops to exactly 62% of the current wave which is where smart money would start buying again, however, there with the breaker to the left of the current price I see Ether moving possibly to the top of that breaker before creating a false sense of hopium as the real target is the multiple equal lows which is where there is a lot of manufactured liquidity (Pictured here 15 MIN CHART).
(Where smart Money creates a "Support" line so that if it reaches thay line again it would trigger a lot of buying from retail traders. Instead, Smart Money knows this and will drive the price further down taking out the retail traders buying at the "Support" Line. As a Smart Money trader, I see Ethereum shorting near 1630-1670 Vand Drop down to at least 1550 but then could drop lower depending on much much liquidity Smart Money wants to go after.
Just my thoughts. Good Luck and Happy Trading.
P.S. Yes My Charts are Full of Rectangles as I mark Fair Value Gaps from Multiple Time Frames and Order Blocks. I do rthis because I notice a monthly fair value gap (Imbalance which price is attracted to) near $720-900. and It's possible it could get that low to fill that imbalance. But I'm just focused on the immediate right now
ETHUSD
which usually implicates Smart Money (Deep Pockets) have pressed the chart down so hard that it got retail traders to sell along with it. It get's to a price that is attractive enough for Smart Money to buy up a lot to run the price up. As it breaks the swing high Smart Money then sells to make a profit which causes the price to drop. The price drops to exactly 62% of the current wave which is where smart money would start buying again, however, there with the breaker to the left of the current price I see Ether moving possibly to the top of that breaker before creating a false sense of hopium as the real target is the multiple equal lows which is where there is a lot of manufactured liquidity (Pictured here 15 MIN CHART).
(Where smart Money creates a "Support" line so that if it reaches thay line again it would trigger a lot of buying from retail traders. Instead, Smart Money knows this and will drive the price further down taking out the retail traders buying at the "Support" Line. As a Smart Money trader, I see Ethereum shorting near 1630-1670 Vand Drop down to at least 1550 but then could drop lower depending on much much liquidity Smart Money wants to go after.
Just my thoughts. Good Luck and Happy Trading.
P.S. Yes My Charts are Full of Rectangles as I mark Fair Value Gaps from Multiple Time Frames and Order Blocks. I do rthis because I notice a monthly fair value gap (Imbalance which price is attracted to) near $720-900. and It's possible it could get that low to fill that imbalance. But I'm just focused on the immediate right now
ETHUSDTrade closed: target reached
Nailed it, Smart Money Wins Again
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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