Post
ETH is currently hovering near the 2255 mark after a short-term dip, but the bigger picture remains locked inside a classic large triangle pattern. 🟩 This is the exact framework to use for your analysis.
The price is once again testing the lower boundary of that triangle. Historically, every touch of this support line has triggered a solid bounce. 🚀 The pattern has held strong repeatedly, and there is no reason to doubt it now. Each previous bounce has offered at least a 100-point relief rally.
Yesterday, a short entry was taken near 2285, but the position was a bit far from the ideal add-on zone. That is fine. The immediate focus now is on the impending upward move. 📈
Looking at the liquidation heatmap, the major resistance cluster sits above 2350. This is a key magnet for price. A bounce from here should have the momentum to break through that level. Once 2350 is cleared, the path opens up for a rapid acceleration toward the triangle’s upper boundary near 2400. 🎯
This setup offers a very favorable risk-to-reward ratio for longs. The plan is to ride this recovery wave and begin scaling into shorts only once price reaches the upper trendline near 2400. The exact short entry will be determined as the move unfolds. Stay patient and let the pattern play out.
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
Replies
No comments yet. Be the first to reply!