$ETH
— Just thinking out loud…
Price has finally reached a long-anticipated zone, and I suspect it might leave this area behind as part of market manipulation. (Especially if it closes below 4,100 on the daily chart.)
I don’t believe the bull run will be this obvious or allow us to profit so easily. I’m anticipating a pullback, possibly into the 3,900–3,700 range. Based on previous price action in this area, I’ve marked a stop level using historical candles and entered a trade accordingly.
With the current structure, I see potential for a retracement that aligns with a Head and Shoulders pattern. If $ETH starts closing hourly candles above my red line, I’ll exit the trade. Likewise, if it breaks the most recent high, I may close to limit losses — and I’ll share an update if that happens.
If the market moves upward instead, our BTC long position should offset any loss here.