ETH - Confluence of Key Levels Before the Big Leap
I believe that Ethereum is on the verge of a significant shift, as it has recently exhibited some encouraging trends. Before we embark on the voyage to over $2000, I anticipate ETH to retest a key area where several significant levels converge.
OTE (Optimal Trade Entry): This is a vital area where we may observe intense purchasing pressure, a retest here would afford those who missed the initial move an excellent opportunity.
FVG (Fair Value Gap): After a breakout, ETH tends to retest this region. A retest of the FVG would corroborate the breakout's strength and provide further confirmation for the impending move.
SR (Support/Resistance): Finally, I anticipate a retest of the significant SR area, this is a common occurrence in the market and serves as the ultimate affirmation prior to a significant price movement.
Interestingly, the OTE, FVG, and SR all converge in the same region, this convergence of important levels bolsters its significance and makes it a prime location for potential entry.
In conclusion, despite the fact that I am bullish on ETH and see a potential move to $2000 or more, I believe a retest of this confluence area will provide excellent entry points and add further confirmation to the bullish outlook, always practice risk management and successful trading!
Please note that this is not financial advice, prior to making any investment decisions, you should always conduct your own investigation.
OTE (Optimal Trade Entry): This is a vital area where we may observe intense purchasing pressure, a retest here would afford those who missed the initial move an excellent opportunity.
FVG (Fair Value Gap): After a breakout, ETH tends to retest this region. A retest of the FVG would corroborate the breakout's strength and provide further confirmation for the impending move.
SR (Support/Resistance): Finally, I anticipate a retest of the significant SR area, this is a common occurrence in the market and serves as the ultimate affirmation prior to a significant price movement.
Interestingly, the OTE, FVG, and SR all converge in the same region, this convergence of important levels bolsters its significance and makes it a prime location for potential entry.
In conclusion, despite the fact that I am bullish on ETH and see a potential move to $2000 or more, I believe a retest of this confluence area will provide excellent entry points and add further confirmation to the bullish outlook, always practice risk management and successful trading!
Please note that this is not financial advice, prior to making any investment decisions, you should always conduct your own investigation.
Daily trader with PA and FP