*
$ETH /USDC Bullish Setup - Key Support Retest*
$ETH is currently trading at *$1,740* after a sharp correction from $2,100 levels. Price is now approaching the major horizontal support zone at *$1,712* which previously acted as strong demand.
*My Trade Plan:*
- *Entry Zone*: *$1,700 - $1,720*
- *Stop Loss*: *$1,680* | Below the $1,712 support breakdown
- *Take Profit 1*: *$1,800* | First resistance
- *Take Profit 2*: *$1,880* | 24h High retest
- *Take Profit 3*: *$1,950* | Major supply zone
*Why Bullish Here:*
1. *Support Confluence*: $1,712 is a strong historical support + psychological $1,700 level
2. *Oversold Bounce*: ETH down -17% in 9 days. Short-term relief rally likely
3. *Risk-Reward*: 1:3 RR if TP2 hits. SL only $40 vs TP $160+
*Invalidation*: Daily close below *$1,680* means bears in control. Then next support is $1,600.
Currently in no trade. Will enter long only if we get a bounce confirmation from $1,700-$1,712 zone with volume.
What’s your view on
$ETH here? Buying the dip or waiting for $1,600?
#ETH #crypto #TradingSetup #bullish