$ETH
The trend is clearly stronger than $BTC
. From the daily chart perspective, the broader trend is still bullish. What we’re seeing now is a pullback after a spike, not a deep retracement
If you want a deep retracement, you should watch 2650. At the moment, it looks more like profit-taking after a rise rather than a trend reversal. If this level holds and stabilizes, it will likely retest the 2800 price
But if it breaks below 2650–2600, then this move needs to be reassessed rather than defined as a simple pullback. For my own short-term trading, I don’t recommend going short here. Instead, I would wait for a pullback from around the 2800 area, where there should be a clear rejection signal, or a break below 2650
For longs, observe 2630–2660 and watch how strong the bullish rebound is in the middle. If price keeps rising, then simply place a long order. Overall, the market still favors bulls. However, personally, I still focus more on taking shorts
The trend is clearly stronger than $BTC
. From the daily chart perspective, the broader trend is still bullish. What we’re seeing now is a pullback after a spike, not a deep retracement
If you want a deep retracement, you should watch 2650. At the moment, it looks more like profit-taking after a rise rather than a trend reversal. If this level holds and stabilizes, it will likely retest the 2800 price
But if it breaks below 2650–2600, then this move needs to be reassessed rather than defined as a simple pullback. For my own short-term trading, I don’t recommend going short here. Instead, I would wait for a pullback from around the 2800 area, where there should be a clear rejection signal, or a break below 2650
For longs, observe 2630–2660 and watch how strong the bullish rebound is in the middle. If price keeps rising, then simply place a long order. Overall, the market still favors bulls. However, personally, I still focus more on taking shorts
