$ETH Bullish reaction forming after deep liquidity grab into 1,846 support.
I’m seeing a heavy impulsive drop from the 1,990–2,000 zone straight into 1,846. That move cleared late longs and tapped a clear demand area. The reaction wick from 1,846 tells me buyers didn’t disappear. They absorbed.
Market Read:
I’m watching 1,840–1,860 as short-term demand. The sell-off was vertical, not controlled distribution. That usually means liquidation cascade, not structural breakdown. If price builds a base above 1,860 and prints a higher low on 1H, this becomes a bounce setup toward the breakdown origin.