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$ETH is coming down to the $1,650 area 🤯 Will the imbalance below cause the next pump 😮 What will happen in the next 48 hours...
🔸Good day everyone. Trading with the down trend in the market is really difficult at this time. This is important for those who can't figure out where this dump in ETH will end. So if I first look at the 12 HOUR chart, I found an Imbalance as a confirmation from SMC that has not been filled. So I have studied this on many time frames. This is not a filled one so far. You can see the blue area on the chart that I first looked at. So this has fallen between $1,749-$1,658/ When an IMB is filled, the market changes the trend. This is usually the case. So will the reversal happen from here?
🔸1 DAY chart gives another answer to the above question. According to Elliott wave theory, the impulsive wave has traveled to point T without breaking any rules. That is where our last high is at the $5,000 price level. This has been broken down by forming an ending diagonal. So far, that is what is continuing. The Zigzag pattern that is now continuing should end at the IMB area I mentioned. So, according to nature, there is no way for the market to move in one direction continuously. According to this analysis, wait for the lower area at $1,600. This change may occur within the next 48 hours. Have a good day everyone.
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