ETH’s recent surge doesn’t seem to have broken through the key resistance level at 2490📉
So overall, the market structure is still weak.
If you want to take long positions, you should wait until the market breaks above it before you can consider that the trend has reversed—then it makes sense to enter longs.
A trading philosophy: when it’s supposed to be strong but isn’t, it’s weak—that’s what you need to understand.
After last night’s rate-hike news, the market didn’t rebound strongly, so overall market liquidity is relatively weak—in this situation, the price is prone to falling.
That’s why our BTC short at 79,500 was held in profit by 5,000 points and we still didn’t take profit.
And the ETH short at 2,607—when it reached a max profit of about 260 points—we also didn’t take profit.
This profit potential is something many teachers can’t earn within a single week💰
After a break above 2490, everyone can take profit on the short and fully lock in gains. Then the earlier 120 points, plus this 110 points, totals about 230 points locked in.
If the market breaks above 2490 and then reverses with a pullback, we can consider long entries.
Meanwhile, the resistance levels above ETH are 2510–2566. If it rises directly to that area, you can also try trading shorts along the resistance level👌🏻
So overall, the market structure is still weak.
If you want to take long positions, you should wait until the market breaks above it before you can consider that the trend has reversed—then it makes sense to enter longs.
A trading philosophy: when it’s supposed to be strong but isn’t, it’s weak—that’s what you need to understand.
After last night’s rate-hike news, the market didn’t rebound strongly, so overall market liquidity is relatively weak—in this situation, the price is prone to falling.
That’s why our BTC short at 79,500 was held in profit by 5,000 points and we still didn’t take profit.
And the ETH short at 2,607—when it reached a max profit of about 260 points—we also didn’t take profit.
This profit potential is something many teachers can’t earn within a single week💰
After a break above 2490, everyone can take profit on the short and fully lock in gains. Then the earlier 120 points, plus this 110 points, totals about 230 points locked in.
If the market breaks above 2490 and then reverses with a pullback, we can consider long entries.
Meanwhile, the resistance levels above ETH are 2510–2566. If it rises directly to that area, you can also try trading shorts along the resistance level👌🏻
