#Btc #ETH Trade setup
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Here's a trade setup for Ethereum (ETH) and Bitcoin (BTC) based on technical analysis:
## Trade Setup
### Ethereum (ETH)
- *Current Price*: $2,511.41
- *Support Level*: $2,350 (Ichimoku Cloud support and potential buying opportunity)
- *Resistance Level*: $2,500-$2,550 (psychological resistance and potential Wave 5 completion)
- *Target Price*: $2,600 (based on Fibonacci extensions and Elliott Wave targets)
- *Stop-Loss*:
- Short-term: Below $2,350
- Long-term: Below $2,300
### Bitcoin (BTC)
- *Current Price*: $108,838.12
- *Correlation with ETH*: Strong positive correlation (0.918) with ETH, indicating potential price linkage
## Technical Indicators
- *RSI*: Currently at 59 for ETH, indicating room for further upside before entering overbought conditions
- *MACD*: Above signal line for ETH, confirming bullish momentum but showing slightly weakening momentum
- *Ichimoku Cloud*: ETH trading above the cloud, signaling a broader trend remains bullish
## Trade Strategy
- *Conservative Entry*: Buy ETH around $2,350, looking for RSI stabilization between 40-50 and a bullish MACD crossover
- *Aggressive Entry*: Buy ETH above $2,430, capitalizing on the continuation of the upward trend toward $2,500-$2,600
- *Exit Strategy*: Take profits around $2,500-$2,550 or $2,600, based on Fibonacci extensions and Elliott Wave targets
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