⚠️🚨 $ETH /USDT BULLISH BREAKOUT ANALYSIS! 🚨⚠️
Current Price: $4,513.50
Based on the provided chart and current market sentiment, a bullish trend is indicated. The price has been consolidating and now appears to be testing and breaking above key levels, suggesting a continuation of the upward momentum.
Key Levels:
* Resistance: The immediate resistance is around the previous high of $4,530. A break and sustained move above this level would confirm the bullish momentum. A stronger resistance is at the 24h high of $4,670.
* Support: The immediate support level is around the $4,466 to $4,480 range, which previously acted as resistance. This level is crucial to hold to maintain the bullish structure. Further down, strong support can be found at the $4,400 psychological level.
Trade Setup: LONG POSITION 📈
* Entry: Look for a long entry on a retest of the $4,510 - $4,520 area, or on a confirmed breakout and close above the $4,530 resistance.
* Take Profit (TP):
* TP1: $4,550
* TP2: $4,600
* TP3: $4,650 (Near the 24h high)
* Stop Loss (SL): Place a stop loss below the immediate support level, for example, at $4,460.
Risk Management:
* Always use a stop-loss order to protect your capital.
* Do not risk more than 1-2% of your total trading capital on a single trade.
* Adjust your position size based on your risk tolerance and the distance to your stop-loss.
* Consider taking partial profits at each TP level to secure gains.
