Tomorrow morning Monday, and there’s going to be a big move again! Can you sleep?
In my previous post, I said that I’m still more optimistic about continuing the upward attack. Even though there was a partial pullback for the moment, the support is still quite strong. You can also see from the hourly chart that we’re currently in a consolidation range. There isn’t any big capital entering yet—just retail traders making small moves.
I expect that on Monday morning there will be a wave of a big行情. Personally, I lean toward a continued breakout higher, but I won’t promise a straight up move because I can’t guarantee it. However, in terms of risk level, going long within the range of 2570–2560 can be tried, because the stop-loss can be placed below 2550. That keeps the risk small while the potential profit is higher.
Why do I say to place the stop-loss below 2550? Because the top of the dense order/positioning zone at the high end is at 2550. It broke above that level last Friday and held. If it goes back down into that zone again, the bulls won’t look too good. So you can use a smaller stop-loss buffer to aim for a larger take-profit.
I’ll do a live stream later for a bit. If you have time, feel free to come chat: #ETH
In my previous post, I said that I’m still more optimistic about continuing the upward attack. Even though there was a partial pullback for the moment, the support is still quite strong. You can also see from the hourly chart that we’re currently in a consolidation range. There isn’t any big capital entering yet—just retail traders making small moves.
I expect that on Monday morning there will be a wave of a big行情. Personally, I lean toward a continued breakout higher, but I won’t promise a straight up move because I can’t guarantee it. However, in terms of risk level, going long within the range of 2570–2560 can be tried, because the stop-loss can be placed below 2550. That keeps the risk small while the potential profit is higher.
Why do I say to place the stop-loss below 2550? Because the top of the dense order/positioning zone at the high end is at 2550. It broke above that level last Friday and held. If it goes back down into that zone again, the bulls won’t look too good. So you can use a smaller stop-loss buffer to aim for a larger take-profit.
I’ll do a live stream later for a bit. If you have time, feel free to come chat: #ETH
