ETH Weekly Update

13 Jun 2023 · 1 min

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In this weekly market commentary, the speaker notes that Ethereum is outperforming Bitcoin and highlights that daily liquidity has already been absorbed, emphasizing the importance of candle bodies as the primary area for institutional volume. He points out that this key level lies within a discount zone and advises zooming into a lower timeframe (1‑hour) to locate trade opportunities. On the 1‑hour chart, a setup similar to Bitcoin’s is identified: sell‑side liquidity has been taken, and price is currently rising. The recommended trade is to enter when price retraces to an order block, placing the entry at the wick low, with a target of $1,905, representing a 7.4 × risk‑to‑reward ratio.

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Ethereum surprisingly is holding up better than Bitcoin. If there is one notable thing to note is that this daily liquidity here has already been taken. The reason why I'm using the candle bodies is because that's where most of the institutional volume is concentrated at. Given that this key level has been taken inside a discount zone, jump into a lower timeframe to see if there are any potential trade ideas. On the 1-hour, yeah, on the 1-hour there definitely is similar setup to Bitcoin where you took out the liquidity here and that is your sell-side liquidity and then price is currently pumping. Now similarly to Bitcoin, I would just take a trade at when it retraces back to an order block, place it the wick low. And then as for Ethereum, this is where I would target right there, that is at $1,905. So this trade is a 7.4 risk-to-reward trade.