ETHUSDT is testing major Fibonacci support level now

5 nov.

As the chart illustrates, ETHUSDT has completed a significant correction and is now testing a crucial technical level: the 50% retracement level of the Fibonacci sequence. This level often acts as a dynamic support zone in a strong trend.

A confirmed bullish rejection at this 0.5 Fibonacci support, evidenced by a strong reversal candlestick pattern, would signal that the correction may be complete. This would establish a high-probability setup for a resumption of the primary bullish trend.

In such a scenario, we would anticipate a strong bullish impulse, with an initial technical target projected toward the $5,500 level. This target is derived from the magnitude of the prior uptrend and represents a key resistance zone on the higher timeframes.

DISCLAIMER: ((trade based on your own decision))
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9 nov.

Transaction en cours

If You Are Already Long: Congratulations on a good entry. Now, manage the trade.

Protective Stop-Loss: Your logical stop-loss level is now below the $3150 support. A break below this key level would invalidate the bullish structure. Placing it at, for example, $3100 or $3080, is prudent.

Take-Profit Targets: Consider taking partial profits at the next resistance levels (e.g., $3300, $3450, $3600). This locks in gains and reduces risk.

If You Are Looking to Enter Long:

The Aggressive Approach: Buy on the current momentum, but use a tight stop-loss (just below the most recent minor low within this bounce).

The Conservative Approach: Wait for a small pullback within the new uptrend (a "higher low") to get a better entry price. This carries the risk of missing the move if it just rockets up.