[ETH] chart overview

1D
Almost all coins, including Ethereum, have sharply declined.
It has broken through the support line of 2,879, which should not be broken, with a vertical drop and a huge bearish candle.
2,879 is expected to switch from a support level to a resistance level.

The moving average arrangement is still in a reverse arrangement just like yesterday, and there are also no signals indicating a bottom.

The only thing worth hoping for is that when checking the supply zones with the Fixed Range Volume Profile, the green-highlighted box area indicates that the current price level is at the top of the thickest supply zone.

At this point, the best scenario would be to consolidate sideways at the current price level without any further decline, gathering the moving averages as seen from August to November 2024, and then breaking out of the trend again.

4H
When I posted the market situation yesterday, the 4-hour frame showed a breakout above the downward trend line and candles settling above the middle line of the Bollinger Bands, which seemed to be performing well. However, seeing the immediate vertical drop makes it clear that those movements were a fake move for liquidity sweep.

From the perspective of a futures trader who has to be cautious, it is a bit disappointing for those who took long positions, but if you set a stop loss below the middle line of the Bollinger Bands and entered, I believe you would have exited with a small loss.

Still, since I have to trade, if I were to set a standard, the previous low of 2,635 will now be the bottom line.

If it breaks below that, it will open significantly downwards by about 9-10% to around 2,390, which is the bottom of the green box. Trading without a stop loss may lead to a very heated experience.


aggressive trader

Set the stop loss slightly below the upper part of the resistance level and the previous low as shown above, and enter the position.

conservative trader

Confirmed the breakout of the downward trend line, enter after confirming the breakout above 2,879.
You can set the standard this way.


For those looking to short, I think it would be easier to trade by setting a stop-loss above the resistance line at 2,879 while waiting for candles to approach it, or watching for an upper wick or a trend reversal candle. Alternatively, you could set a threshold to chase if it goes below the previous low.

When the candles are below the 200EMA on the 4-hour frame, they continuously face resistance. Therefore, if you have any trapped spot positions, it is advisable to actively utilize short positions in futures for hedging.

The responsibility for all investments lies with the individual.
Just for reference: )