$ETH 2200 This level is closer than you think.
Just checked—2,237.
Today's low was 2,232, leaving just over $30 before 2,200.
Down 7.7% in a day, worse than Bitcoin.
In yesterday's liquidation wave, the biggest single liquidation was in ETH.
On Binance ETH futures, a single $10.94 million position was wiped out.
The bulls were truly slaughtered this time.
Why is 2,200 so important?
If it breaks, 2,100 is the next level in sight, with practically nothing in the way.
If it holds, there's still time to catch a breath before tonight's nonfarm payrolls report.
If it doesn't, Bitcoin at 75,000 will also feel the tremors.
The moving averages are all overhead, with the 50-day average still hovering above 2,500.
Before talking about a recovery, let's first get back above 2,300.
My strategy is simple:
I won't chase shorts above 2,200, and I'm not rushing to buy the dip either.
Wait for tonight's nonfarm payrolls report at 21:30; options expiry is also at 16:00 this afternoon.
If the daily candle closes above 2,200 and gets back above 2,300, then I'll consider a small long position, with a stop-loss below 2,190.
If the daily candle closes below 2,200, this thesis is invalidated—next stop, 2,100.
Don't get carried away with position sizing right now; half size at most.
Let's get through tonight first.
Just my personal opinion, not investment advice.
#ETH2200Support
Just checked—2,237.
Today's low was 2,232, leaving just over $30 before 2,200.
Down 7.7% in a day, worse than Bitcoin.
In yesterday's liquidation wave, the biggest single liquidation was in ETH.
On Binance ETH futures, a single $10.94 million position was wiped out.
The bulls were truly slaughtered this time.
Why is 2,200 so important?
If it breaks, 2,100 is the next level in sight, with practically nothing in the way.
If it holds, there's still time to catch a breath before tonight's nonfarm payrolls report.
If it doesn't, Bitcoin at 75,000 will also feel the tremors.
The moving averages are all overhead, with the 50-day average still hovering above 2,500.
Before talking about a recovery, let's first get back above 2,300.
My strategy is simple:
I won't chase shorts above 2,200, and I'm not rushing to buy the dip either.
Wait for tonight's nonfarm payrolls report at 21:30; options expiry is also at 16:00 this afternoon.
If the daily candle closes above 2,200 and gets back above 2,300, then I'll consider a small long position, with a stop-loss below 2,190.
If the daily candle closes below 2,200, this thesis is invalidated—next stop, 2,100.
Don't get carried away with position sizing right now; half size at most.
Let's get through tonight first.
Just my personal opinion, not investment advice.
#ETH2200Support
