@okaaner
Eth 1D
with its recent rise, eth has broken the eq zone on the higher timeframe. the w imbalance (red box) and the dashed line (3649) above could act as resistance points. it’s wise to be more cautious when price approaches these levels.
on the short term, if we see a strong sell-off, the eq zone, dashed line (2626), and green box could serve as support. if price drops to these areas, a quick recovery is necessary. if not, the situation could remain frustrating. the diagonal coming from 1400, where the institutional zone and imbalances intersect, might provide support.
if you believe we are in a trend during this process, you can look for the entry strategy i shared in the bottom left on altcoins. identify those that have finished accumulation and broken out—set your alerts. when price reaches those points, depending on the situation, you can enter trades or make scaled entries.
0 reply
0 recast
0 reaction