$EWY GAINS 2.9% AND OUTPERFORMS BTC: IS THE NEXT BULLISH LEG APPROACHING?
EWY is showing promising strength with a steady 2.9% climb and improving performance against Bitcoin. With bullish market structure and a successful reclaim of key support, traders should watch whether buyers can push price toward the next resistance levels.
Bullish Structure and Relative Strength
My bias remains bullish. The 1H structure is holding above the recent higher low at 154.21 and the EMA bands, while BTC's bullish structure provides additional support. The previous 4H bullish divergence and EWY's relative outperformance suggest strengthening momentum, although confirmation remains essential.
Liquidity Sweep and Support Reclaim
Price recently swept below 154.21 but failed to sustain the breakdown. Buyers subsequently reclaimed the key fair value gap (FVG) support, with price moving above 157.50. This behavior suggests demand is returning and supports the continuation thesis, provided buyers defend the reclaimed levels.
3. Key Upside Targets
Target 1: 158.13
Target 2: 159.06
Target 3: 159.68
Extended target: 162.06 if momentum continues.
These are potential resistance zones where price may pause or experience profit-taking.
Potential Entry Zone
The preferred pullback area is 156.20–155.00, where FVG support and demand may converge. Look for a bullish engulfing candle, sweep-and-reclaim, or strong rejection wick. A 5M bullish market structure shift or convincing 1H confirmation would strengthen the setup.
Avoid chasing price after an extended move, especially while relative volume remains low.
Risk Management and Market Flow
A 1H close below 154.21 would invalidate the bullish structure and shift the bias toward bearish. Open interest stands at $39.4M, down 1.2% over 24 hours, while funding is +0.0050% and the taker ratio is 1.00x. These figures offer limited directional confirmation, so price action remains decisive.
Wait for confirmation, respect invalidation, and manage risk at every target.
Not investment advice.
#EWY #CryptoTrading
EWY is showing promising strength with a steady 2.9% climb and improving performance against Bitcoin. With bullish market structure and a successful reclaim of key support, traders should watch whether buyers can push price toward the next resistance levels.
Bullish Structure and Relative Strength
My bias remains bullish. The 1H structure is holding above the recent higher low at 154.21 and the EMA bands, while BTC's bullish structure provides additional support. The previous 4H bullish divergence and EWY's relative outperformance suggest strengthening momentum, although confirmation remains essential.
Liquidity Sweep and Support Reclaim
Price recently swept below 154.21 but failed to sustain the breakdown. Buyers subsequently reclaimed the key fair value gap (FVG) support, with price moving above 157.50. This behavior suggests demand is returning and supports the continuation thesis, provided buyers defend the reclaimed levels.
3. Key Upside Targets
Target 1: 158.13
Target 2: 159.06
Target 3: 159.68
Extended target: 162.06 if momentum continues.
These are potential resistance zones where price may pause or experience profit-taking.
Potential Entry Zone
The preferred pullback area is 156.20–155.00, where FVG support and demand may converge. Look for a bullish engulfing candle, sweep-and-reclaim, or strong rejection wick. A 5M bullish market structure shift or convincing 1H confirmation would strengthen the setup.
Avoid chasing price after an extended move, especially while relative volume remains low.
Risk Management and Market Flow
A 1H close below 154.21 would invalidate the bullish structure and shift the bias toward bearish. Open interest stands at $39.4M, down 1.2% over 24 hours, while funding is +0.0050% and the taker ratio is 1.00x. These figures offer limited directional confirmation, so price action remains decisive.
Wait for confirmation, respect invalidation, and manage risk at every target.
Not investment advice.
#EWY #CryptoTrading