In this type of market, what matters most is not speed, but respecting the market's pace.📊 $ETH
: Buy (LONG) around $2,360, targets at $2,400 / $2,440
On October 20, ETH on the 1-hour timeframe (1H) saw a continuous decline from $2,529, reaching a low of $2,313. After a rebound, its price is fluctuating around $2,400 again.
Short-term moving averages are converging. The rebound remains limited in strength. The $2,420–$2,450 zone is a significant resistance level, while $2,380 is immediate support.
🌍 Market context
Outflows from $ETFT.ETF Ethereum, oil prices fluctuating at high levels, and risks to shipping in the Strait of Hormuz are weighing on market sentiment, which has yet to truly recover.
Don't confuse a simple rebound with a genuine trend reversal.
🎯 Suggested trading strategy
After 9 years of trading experience, here is the author's philosophy:
Sell short (SHORT) when a rebound offers a good entry point.
Buy (LONG) when support stabilizes.
Maintain strict discipline, as the market's direction can change at any time.
: Buy (LONG) around $2,360, targets at $2,400 / $2,440
On October 20, ETH on the 1-hour timeframe (1H) saw a continuous decline from $2,529, reaching a low of $2,313. After a rebound, its price is fluctuating around $2,400 again.
Short-term moving averages are converging. The rebound remains limited in strength. The $2,420–$2,450 zone is a significant resistance level, while $2,380 is immediate support.
🌍 Market context
Outflows from $ETFT.ETF Ethereum, oil prices fluctuating at high levels, and risks to shipping in the Strait of Hormuz are weighing on market sentiment, which has yet to truly recover.
Don't confuse a simple rebound with a genuine trend reversal.
🎯 Suggested trading strategy
After 9 years of trading experience, here is the author's philosophy:
Sell short (SHORT) when a rebound offers a good entry point.
Buy (LONG) when support stabilizes.
Maintain strict discipline, as the market's direction can change at any time.