Hey everyone, Skeptic here! Did you see Bitcoin finally smash through the $107K resistance? Now, with $BTC .D dropping, liquidity’s flowing back into altcoins like ETH, which could be gearing up for some wild rallies! 😊 Stick with me for a deep dive into Ethereum’s charts. Let’s start with the Daily Timeframe. 📊
Daily Timeframe: The Big Picture
After breaking the downward curve trendline, $ETH has started a sustainable uptrend. Rising volume and Bitcoin’s rally confirm this move, so we can cautiously say the weekly major uptrend is regaining steam. This gets confirmed if we hold above the daily resistance at 2886.63. Our spot trigger is a consolidation above 2886.63, backed by increasing volume and momentum, plus a key condition: ETH/BTC needs to be in an uptrend.
Let’s take a quick peek at the ETH/BTC chart.
For a long time, ETH/BTC was in a sharp downtrend on the daily, but recently, it’s kicked off an uptrend momentum. A break above the 0.02588 resistance would confirm ETH/BTC’s uptrend, signaling it’s time to buy spot ETH. Until that break, I don’t recommend jumping in. Always confirm with ETH/BTC—otherwise, Bitcoin is the safer buy since, if ETH/BTC stays bearish, Bitcoin will likely outperform $ETH .
4-Hour Timeframe: Long & Short Setups
Let’s zoom into the 4-hour timeframe for long and short triggers. For my long setup, I’ve already opened a position after the break of 2701.33.
On the 15-minute timeframe, rising volume and RSI hitting overbought during the breakout gave solid confirmation. It looks like it’s pulling back to this level now, but there’s a chance it could be a fakeout. I’m letting it play out—if it hits my stop loss, no big deal; I’ve got risk management in place, and one stop won’t blow up my account :) For a short setup, a break below 2381.51, coinciding with a break below ETH/BTC support at 0.02289, could be your short trigger. But I don’t recommend it—the major uptrend is bullish, so shorting means going against the trend, which is risky.
💬 Let’s Talk!
If this analysis sparked some ideas, give it a quick boost—it really helps! 😊 Got a pair or setup you want me to dive into next? Drop it in the comments, and I’ll tackle it. Thanks for joining me—see you in the next one. Let's grow together! 🤍
