ETH: ERL Taken, Now Watching IRL Respect for ContinuationEthereum/USDTOKX:ETHUSDTSmellyTazThis is the part most traders miss. They see candles. I’m watching delivery. ETHUSDT already ran into external liquidity, and now price is retracing back into internal liquidity. That is the core idea here: ERL gets taken, then price rebalances into IRL before expanding again. That is exactly why this BC zone matters. In my framework, I’m not looking at SK as a standalone pattern. I’m using the ABC sequence to map structure, and I’m using liquidity to understand where price is actually trying to go. So the read is simple: ERL was the draw price reached it now price is pulling back into IRL / BC if this area holds, continuation higher still makes sense if it fails, then the idea is weakened and needs to be reassessed That is the difference between staring at waves and actually understanding delivery. Price does not just move randomly from one candle to the next. It moves from liquidity to liquidity. Structure tells me what formed. Liquidity tells me why price is moving. Right now, this chart still looks like a retracement into internal liquidity, not a chart that is done. ETH was trading around $2,148 when I checked. SmellyTaz — decoding chaos Not financial advice.