$ETH ETH is at 2510 today, bouncing more than 100 points from the previous low of 2407. Lots of people have been asking me: Have we bottomed?
My answer is always: Don’t try to guess the bottom. It’s the most expensive habit in this business.
On the 2-hour chart, EMA15 = 2509, EMA30 = 2515, and EMA60 = 2536. The moving averages are still bearishly aligned, and MACD is below the zero line. Unless we break through 2525, this is still just a weak rebound.
On the 15-minute chart, the short-term V-shaped rebound is steep and momentum is strong, but if it turns around, the pullback could be just as quick. Don’t chase the highs.
Two scenarios:
Scenario A: If it pulls back to 2500–2503 and holds, go long with a small position. Stop-loss at 2490; target 2525–2536.
Scenario B: If it rallies to 2525–2536 and meets resistance, go short with a small position. Stop-loss at 2545; target 2500–2485.
Don’t trade until price reaches your levels, and always use a stop-loss when it does.
Set conditional orders if needed. Don’t stay up all night stubbornly holding a position. A good night’s sleep beats staring at charts until your eyes are bloodshot.
Follow me so you don’t lose your way.
#ETHFutures
My answer is always: Don’t try to guess the bottom. It’s the most expensive habit in this business.
On the 2-hour chart, EMA15 = 2509, EMA30 = 2515, and EMA60 = 2536. The moving averages are still bearishly aligned, and MACD is below the zero line. Unless we break through 2525, this is still just a weak rebound.
On the 15-minute chart, the short-term V-shaped rebound is steep and momentum is strong, but if it turns around, the pullback could be just as quick. Don’t chase the highs.
Two scenarios:
Scenario A: If it pulls back to 2500–2503 and holds, go long with a small position. Stop-loss at 2490; target 2525–2536.
Scenario B: If it rallies to 2525–2536 and meets resistance, go short with a small position. Stop-loss at 2545; target 2500–2485.
Don’t trade until price reaches your levels, and always use a stop-loss when it does.
Set conditional orders if needed. Don’t stay up all night stubbornly holding a position. A good night’s sleep beats staring at charts until your eyes are bloodshot.
Follow me so you don’t lose your way.
#ETHFutures