ETH Theoretical Forecasting - Was a new Bear Channel born?

[johnblockbuster]

I am always looking for structural signals, trying to identify where I can be tricked by the makers or my own bias. If we cannot get past 4570 and get rejected here, a new bear channel can form (purple). We need at least two points of support + resistance to consider any channel. A drop could only target an area that I thought might get filled (4238) if it was fast and sharp at NY futures open on a gap down - It's a nothing burger if we blaze past the top purple line on this move. Would be invalidated.

[Nahid10]

This is a solid reminder of why structure > bias. The market makers love to trap traders exactly around these channel edges. For me, confirmation will come not just from price closing above 4570, but also seeing sustained volume backing that move. If that fails and we rotate down, the liquidity pocket near 4230–4250 is the perfect magnet for a sweep before any bounce attempt. Either way, we’re at a decision point where ETH will show its hand soon.

[jacson4]

Really sharp observation . The purple structure makes sense — we’ve already seen how ETH respects these channels with multiple touches. If 4570 holds as rejection, the risk of sliding into that lower bear channel increases a lot. I like how you pointed out 4238 as a fast-fill level; the confluence with volume gaps in that area adds weight. On the flip side, a clean breakout above that purple resistance could flip the whole structure bullish again. Key inflection zone right here.