(Two cakes) $ETH My take:
First, look at the bigger direction: 2702. If price pushes up into this area and can’t hold after going up for a round, then basically the day’s ceiling has already been used. Don’t count on trying to hard push higher. The focus then shifts downward to 2635.
How to play the range:
If 2635 can hold, then treat it as back-and-forth between 2702 and 2635—don’t rush into a one-way move.
If 2635 can’t hold, the next key level is 2567. 2567 is the bottom of a large trading range (big box). Once it breaks, the hourly timeframe bulls are essentially over; don’t keep forcing it from a long-bias.
If you want to go long, watch these levels:
2664: If it breaks upward on strong volume, you can follow; after the push, if it drops back again, cut it.
A drop to around 2610 for a pullback: once you confirm it’s supported, consider entering. If it can’t hold and breaks below 2572, get out.
If the hourly chart can stabilize above 2664, then only after that does it have the “qualification” to look at 2702 to 2726.
If you want to go short, it’s straightforward too:
2647: If it sells off on strong volume and breaks downward, you can follow short—don’t skimp on the stop loss.
If price rallies up toward 2702, you can also try a short there, but if 2743 breaks, then acknowledge the mistake.
If the 4-hour chart breaks below 2647, then look down at 2610 and 2572.
Pre-positioning levels:
2556 can be set for a long; if it breaks 2507,撤 (cancel/exit).
Resistance overhead: 2664, 2702, 2726
Support below: 2647, 2610, 2572
First, look at the bigger direction: 2702. If price pushes up into this area and can’t hold after going up for a round, then basically the day’s ceiling has already been used. Don’t count on trying to hard push higher. The focus then shifts downward to 2635.
How to play the range:
If 2635 can hold, then treat it as back-and-forth between 2702 and 2635—don’t rush into a one-way move.
If 2635 can’t hold, the next key level is 2567. 2567 is the bottom of a large trading range (big box). Once it breaks, the hourly timeframe bulls are essentially over; don’t keep forcing it from a long-bias.
If you want to go long, watch these levels:
2664: If it breaks upward on strong volume, you can follow; after the push, if it drops back again, cut it.
A drop to around 2610 for a pullback: once you confirm it’s supported, consider entering. If it can’t hold and breaks below 2572, get out.
If the hourly chart can stabilize above 2664, then only after that does it have the “qualification” to look at 2702 to 2726.
If you want to go short, it’s straightforward too:
2647: If it sells off on strong volume and breaks downward, you can follow short—don’t skimp on the stop loss.
If price rallies up toward 2702, you can also try a short there, but if 2743 breaks, then acknowledge the mistake.
If the 4-hour chart breaks below 2647, then look down at 2610 and 2572.
Pre-positioning levels:
2556 can be set for a long; if it breaks 2507,撤 (cancel/exit).
Resistance overhead: 2664, 2702, 2726
Support below: 2647, 2610, 2572