$ETH Unless we get a clear impulsive 5-wave push to the upside or at least a break above the weekend high the orange scenario pointing to further downside remains valid.
The bounce from last week’s low still looks corrective and lacks real strength. There’s no structural confirmation yet that a solid bottom is in place.
That said, price is trading in a technically significant zone. After the recent liquidation flush, it’s worth staying alert for potential reversal signals.For now, though, confirmation is still missing. I’m watching the micro structure closely.