ETH/USDT
The chart is an Ethereum/Tether (ETH/USDT) 1-hour (1H) price analysis from TradingView, likely using concepts from Smart Money Concepts (SMC) or ICT (Inner Circle Trader) methodology.
Here’s a brief breakdown:
1. **Liquid Purge**: This represents a spike in price action that likely cleared out liquidity (i.e., stop losses) from traders who were in short positions.
2. **1H Fair Value Gap (FVG)**: The price left behind an imbalance or inefficiency (a gap) that needs to be filled. This area is highlighted in green, implying that the price could retrace back into this zone.
3. **1H Order Block**: An order block (green shaded area) suggests a key supply zone where institutional traders may have placed significant orders, expecting to sell as the price retraces into it.
4. **Projected Price Movement**: The red line illustrates a bearish outlook. The price is expected to retrace into the fair value gap and order block, find resistance, and then drop significantly to lower liquidity levels.
5. **Draw on Liquidity**: The target for this move is a lower liquidity pool, around the 2,140 price level, where stop losses of long positions may be concentrated.
In summary, this chart predicts a short-term bullish retracement before a significant bearish drop in Ethereum's price.
