Greetings, Crypto Warriors! It's a prudent move to remain watchful during these times of Dollar consolidation. Larger cryptocurrencies may be contemplating a strategic move to clear out stop-loss orders at higher levels, followed by a potential push to catch late retail investments in the elevated regions.
For Ethereum, this level is around 1750, but the extent of the move remains uncertain. Such a maneuver would align with a market maker's playbook, especially considering the substantial positions that are typically closed out at the end of the year.
In this ever-evolving crypto landscape, it's wise to swim alongside the big players, those who understand the market dynamics and have the power to influence price action. These considerations are essential for traders and investors alike, and they shape the outlook as we navigate the crypto world.
Daniel P. Fadejev