ETHBTC there is a play for each outcome! #crypto #education $eth

Planning the trades for the following days on ETHBTC. Two scenarios coming into my mind. I will analyze both thoroughly. Both scenarios take into consideration the Daily close. I cannot stress out how important a Daily close is to form a bias for the following moves.

Scenario 1. Close as inverted hammer. In this case, having taken liquidity on the upside price will gravitate towards lower levels. Optimal play is to let price close bellow support the next day, then on the third day, try shorting this resistance down to the demand zone (red box).

Scenario 2. Normal daily close above support and above previous day's high (34075). In this case we have a confirmed resistance turned into support. Now every pullback near this support is a long setup. Go into lower time frames and "frame" your entry. Target upside liquidity!