Most traders will fade this SYMBOL bounce before it even prints a higher high.
$ETH /USDT - đą LONG · Conf 77%
Trade Plan:
Entry: 2510.96 â 2515.22
SL: 2467.24
TP1: 2547.48
TP2: 2570.41
TP3: 2604.80
Why this setup?
- The 4h structure is trending LONG, not ranging, despite the daily chop. Price sits at 2513.09, right on the entry ref.
- RSI on the 15m is at 50.12: neutral fuel, not exhausted. This is the calm before the expansion, not the end of the move.
- ATR of 19.1 on the 1h gives this set...
$BTC pulling back overnight â totally normal, not a red flag. Adjusted first target up to $82,700 to match recent highs. That's the level I'm locked on â big resistance.
Seeing some exhaustion creeping in: volume dropping off, triple negative RSI divergence forming on the daily. Not screaming reversal yet, but worth respecting.
Game plan: Full close on my $BTC long if we pierce $82,700. Then watch the reaction â likely flip short if it stalls. Not setting blind limits; I'll be there live.
If ...
Bitcoin just pushed to $81,275. I do not see a new cycle in that. I see a test of a level I have been watching.
If you follow my work, this is the update I wanted you to have.
- Why it moved, what I think comes next, and how I am marking risk into the September 4 jobs report.
I still believe we are in the same 4-year cycle, with ETFs added. Not a brand-new ETF-era cycle.
A one-day jump on Fed hopes does not change that for me.
Here is how I am reading the market.âšBitcoin is up 5.04% in 24 ho...