Breakout strategy: $ETH is testing the level ๐
$ETH at $2,500.69 (+0.12% in 24h, -6.29% in 7 days), practically right on the 20-period moving average on the 4h chart, at $2,501.06. This is immediate resistance: above it are the 50-period moving average, at $2,607.27, and the 7-day high, at $2,739.50. Below, the 7-day support is at $2,406.11. RSI-14 is at 61.6, neutral.
What counts as confirmation: a 4h candle close above $2,501.06 โ a wick that breaks through the level and then falls back inside is not enough.
The trap: in a false breakout, the price crosses the level, attracts late buyers, and closes below it again. Anyone who entered based only on the wick is left on the wrong side.
An educational example of risk management, not a recommendation: in a confirmed breakout, the stop is usually placed below the broken level; if the price closes below $2,501.06 again, the thesis is invalidated. Size your position so that this stop costs only a small, predefined fraction of your capital โ risk comes first, always.
No confirmation, no entry.
#Ethereum #CryptoVision
$ETH at $2,500.69 (+0.12% in 24h, -6.29% in 7 days), practically right on the 20-period moving average on the 4h chart, at $2,501.06. This is immediate resistance: above it are the 50-period moving average, at $2,607.27, and the 7-day high, at $2,739.50. Below, the 7-day support is at $2,406.11. RSI-14 is at 61.6, neutral.
What counts as confirmation: a 4h candle close above $2,501.06 โ a wick that breaks through the level and then falls back inside is not enough.
The trap: in a false breakout, the price crosses the level, attracts late buyers, and closes below it again. Anyone who entered based only on the wick is left on the wrong side.
An educational example of risk management, not a recommendation: in a confirmed breakout, the stop is usually placed below the broken level; if the price closes below $2,501.06 again, the thesis is invalidated. Size your position so that this stop costs only a small, predefined fraction of your capital โ risk comes first, always.
No confirmation, no entry.
#Ethereum #CryptoVision