ANALYSIS #ETH ON 25/06: ETH MAY "LONG" BEFORE DIPPING BACK TO 1,550
ETH is currently stuck in the range of 1,550–1,668, which isn’t ideal for jumping in right away. The usual play for ETH right now is to pump up to the zone between 1,635 AND 1,650–1,668 to grab those short stops and bait a long breakout. If the price only wicks up but the M30/H1 doesn't close firmly above 1,668, that's likely a bull trap. After that, ETH has a good chance of retracing back to 1,604 - 1,580 - 1,557/1,550.
Guys, wait for ETH to pull back to 1,642–1,668 then watch for a rejection, don’t go short blindly at 1,616.
Short when there’s a M15/M30 candle wick, closing back below 1,635–1,650.
Entry: 1,650–1,668
SL 1,712
TP1: 1,604 1,580 1,557 The setup becomes invalid if H1 closes and holds above 1,700.
If ETH dips down to 1,557–1,550 first then reclaims back to 1,580–1,604, you might scalp a long up to 1,635–1,650, SL 1,530. This setup is counter-trend.
ETH is currently stuck in the range of 1,550–1,668, which isn’t ideal for jumping in right away. The usual play for ETH right now is to pump up to the zone between 1,635 AND 1,650–1,668 to grab those short stops and bait a long breakout. If the price only wicks up but the M30/H1 doesn't close firmly above 1,668, that's likely a bull trap. After that, ETH has a good chance of retracing back to 1,604 - 1,580 - 1,557/1,550.
Guys, wait for ETH to pull back to 1,642–1,668 then watch for a rejection, don’t go short blindly at 1,616.
Short when there’s a M15/M30 candle wick, closing back below 1,635–1,650.
Entry: 1,650–1,668
SL 1,712
TP1: 1,604 1,580 1,557 The setup becomes invalid if H1 closes and holds above 1,700.
If ETH dips down to 1,557–1,550 first then reclaims back to 1,580–1,604, you might scalp a long up to 1,635–1,650, SL 1,530. This setup is counter-trend.