$ETH Breaking down back within its larger range.
The bulls got some work to do to try and get this weekly candle back up before the close, seems unlikely at this point. If that were to indeed fail, and the weekly closes below the ~$4.1K level, watch closely if there's additional continuation down over the days & weeks following it. Because if there isn't, and price starts grinding back up slowly, that could make for a decent setup. That would make this a big flush/deviation before the "real" breakout.
But for now, no doubt the bulls are nowhere to be seen as ETH is down nearly -20% in 12 days. The Treasury companies can't keep up with this amount either as a lot of longs have been getting flushed out.
Not a market for me to actively trade as most moves just roundtrip quickly. Time to patiently wait.
