I wanted to share some important levels in the ETH/USD pair that we're currently trading. It's crucial to note that Bitcoin (BTC) is currently in a deep supply zone, and as alts often follow BTC's trajectory, we might see a decline in altcoins as well if BTC starts declining. Keep a close eye on the ETH channel, and be mindful that we're navigating within a monthly bearish order block. This situation could turn quickly, leading to liquidation or other outcomes.
In the attached image, we're aiming to close TP3 at 75% of resistance within the channel. We'll keep a small portion running, considering the probability that we might turn the range bullish. If the last portion is stopped, we're still in a significant profit overall.
Wishing you successful and cautious trading!
In the attached image, we're aiming to close TP3 at 75% of resistance within the channel. We'll keep a small portion running, considering the probability that we might turn the range bullish. If the last portion is stopped, we're still in a significant profit overall.
Wishing you successful and cautious trading!
Daniel P. Fadejev
