This Ethereum (ETH/USD) weekly chart is packed with insightful price action, structural patterns, and ICT (Inner Circle Trader) concepts. Here’s a detailed breakdown and thoughts:
🧠High-Level Thoughts:
Currently Bearish Bias: The price recently broke down from a bullish structure, suggesting that momentum is currently in favor of the bears.
Liquidity Zones: The chart shows key Buy-side Liquidity (BSL) and Sell-side Liquidity (SSL) areas, indicating potential magnet zones for price movement.
Loss of Bullish Pattern: The circled zone labeled “Lost a bullish pattern” reflects a failed breakout or pattern that was invalidated—often leading to sharp drops or retests of lower liquidity zones.
🧩 Key Observations:
Bullish & Bearish Phases:
The 2021-2022 cycle shows a bearish breakdown post all-time high, with a massive drop (~-53%) after BOS (Break of Structure).
That breakdown led into a long consolidation range in 2022–early 2023, which served as accumulation (OB + BOS).
In 2023, a strong bull run followed that breakout.
However, mid-2024 to early 2025 shows multiple MSS (Market Structure Shifts) followed by another BOS to the downside, indicating bearish control.
Bearish Breakout:
After the failed bullish continuation (2024), the market lost strength at around the $3,500 zone, entering a bearish phase.
The most recent candle confirms the breakdown of structure from the last bullish OB (Order Block).
This is critical—support failed around $2,500, and now price is resting near $1,800, which is a prior accumulation level.
Bullish Potential (Speculative):
The blue arrow at the end shows speculative bullish projection, likely targeting $4,800 if price reclaims a broken zone.
For that to happen, ETH must first reclaim $2,500 resistance.
Liquidity Zones & Gaps:
OB (Order Blocks) and FVG (Fair Value Gaps) are identified.
Several MSS and BOS signals point to imbalance zones being respected before reversals.
Sell-side liquidity below could be the next magnet if price continues down (below $1,800).
️ Bearish Signals:
Multiple Market Structure Shifts (MSS) downward.
Failed bullish structure—circled and labeled clearly.
Price closed below a major support turned resistance ($2,500–$2,800 zone).
Bullish Hopes (Things to Watch):
Strong support near $1,800, previously a launchpad for the 2023 bull run.
Any bullish divergence on indicators (RSI, MACD, OBV) around current level would be key to watch.
If a bullish OB forms or there’s a reclaim of the broken level, short squeeze potential is high.