Today’s crypto move looks very much like a false breakout. It rarely goes against Nasdaq, and the timing for a real push upward still doesn’t feel right. Over the past few days, there hasn’t been any strong opportunity to push higher, so the market is basically waiting until Friday.
From the current market structure, a lot of retail traders are rushing to buy the spot, but the real bottom is never that easy to catch. It looks like the big players may use Saturday and Sunday for distribution, followed by another leg down.
If price reaches around 91,600 or 3,180 for Ethereum, that area could still offer a solid short opportunity.