ETH

crypto · 1D

Failed breakdown

BingoLong

Generated 1h ago · candle 1d ago

Reasoning

On the 1d timeframe, ETH produced a failed breakdown with a watch read on the bullish side. Supporting context: Key levels — Close is within 0.19% of detected support at 2220.3600.; Price action — Price wicked below the prior 20-bar low 2220.3600 to 2205.1100 and closed back above.. The setup remains valid as long as price holds above 2220.3600. This is an analytical observation for educational purposes — not a recommendation to trade.

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Trading map

Stage · early

What to watch

›Reaction at resistance 2252.7200.
›Hold above EMA50 2272.7601.
›Confirmation candle close in the same direction on the next bar.

Confirmations

2 signals

Key levels
- Close is within 0.19% of detected support at 2220.3600.
Price action
- Price wicked below the prior 20-bar low 2220.3600 to 2205.1100 and closed back above.

Trader playbooks

3 matches

Larry Williams
- Williams %R oversold
  Williams %R(14) at -91.1, below the -80 oversold zone.
- Volatility breakout — short
  Close 2224.6600 fell below open − 0.5×prior-range target 2242.9150.
Joe Ross
- 1-2-3 bearish reversal
  Swing high at 2423.7400, pullback low at 2265.6100, lower swing high at 2382.5300; close below point 2.

Risks

!Patterns can fail; treat all setups as conditional, never as deterministic.
!The triggering candle is no longer the most recent — context may have shifted.

Confirmation needed

›Reaction at resistance 2252.7200.
›Hold above EMA50 2272.7601.
›Confirmation candle close in the same direction on the next bar.

GFWS provides analytical observations for educational and informational purposes only. No part of this page constitutes financial, investment or trading advice. Always perform your own analysis and risk assessment.