#ETH History is always remarkably similar
4160, this left support, is where some previous FOMO buyers set their stop losses. Once it breaks, and doesn't recover quickly, this support turns into the current resistance.
With the left shoulder support at 4160 broken, the next step is to look at this 4-hour Vegas channel. Last time this channel was breached, it retraced from 3940 to 3352, and then started to rise all the way to 4790.
It’s not saying to go all-in with a hundred times leverage, for this kind of 4-hour level layout, if you're afraid of missing out, you can start with a small position around 4070, add to your position near 4000, and set a stop loss at 3960.
Just like the layout at 3400, no one can perfectly time the bottom, it’s just about positioning within this range. If you want to capture that thousand-point profit after 3400, your stop loss must withstand the test, otherwise, you're just gambling.
The RSI is also around 35, not yet in the overbought zone. Don't rush in just because it bounces a little; if you can control your impulses, you’ve already outperformed most people. Once you start trading based on emotions, you’re not far from liquidation.