$ETH: Looking to buy the dip? Let price prove itself first.
Trading activity has picked up a little, but price still hasn’t lifted its head. The full daily candle closed below the overhead moving average, and the current price is even lower. This increase in volume isn’t enough to support a call for a stronger trend over the next few weeks.
A bit frustrating. The bullish setup is clear: price needs to rebound and reclaim overhead resistance, then hold it on a pullback before it’s worth entering. Next, watch volume during the pullback. If it contracts noticeably and price doesn’t fall back below resistance, the opportunity will have a more solid footing.
2777.33 is the key level to remember today. First, the daily chart needs to get above 2777.33; then look for a long entry if the pullback holds.
Stop-loss: 2637.73. If the trade goes your way, the first target is 3056.53.
#TradingStrategy
Trading activity has picked up a little, but price still hasn’t lifted its head. The full daily candle closed below the overhead moving average, and the current price is even lower. This increase in volume isn’t enough to support a call for a stronger trend over the next few weeks.
A bit frustrating. The bullish setup is clear: price needs to rebound and reclaim overhead resistance, then hold it on a pullback before it’s worth entering. Next, watch volume during the pullback. If it contracts noticeably and price doesn’t fall back below resistance, the opportunity will have a more solid footing.
2777.33 is the key level to remember today. First, the daily chart needs to get above 2777.33; then look for a long entry if the pullback holds.
Stop-loss: 2637.73. If the trade goes your way, the first target is 3056.53.
#TradingStrategy