ETHUSDT Wants to retest the monthly support on 1800

The market lost the support on 2460$ and retested as new resistance before a new bearish impulse until the monthly support on 1800$

The price is creating a pennant on the 4h timeframe, and the market created the demand zone on 1800$

How to approach it?
IF the price is going to grave new liquidity from the demand zone, we can add in our watchlist in order to apply our rules for a new long position
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Keep in mind.

🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.

Commentaire:

The price is going to grab new liquidity from the demand zone above the monthly support.
Let's see if the price starts with a reversal movement.
the ETH merge is coming in the summer

Commentaire:

The price is following my drawing. Now we will wait until the end of the day to understand the market.