#MyTradingStyle This trading plan for Ethereum (ETH) outlines a strategy based on current market conditions and institutional activity. Here's a breakdown:
*Key Points:*
- *Support Zone*: ETH is in the $2,500-$2,600 support zone, a potential buying area.
- *Institutional Confidence*: BlackRock's recent acquisition of $48.4 million in ETH suggests institutional confidence.
- *Oversold RSI*: The Relative Strength Index (RSI) is deeply oversold, indicating potential for a reversal.
- *Futures Open Interest*: All-time high open interest in futures contracts could lead to a reversal.
*Trading Plan:*
1. *Accumulation*: Buy ETH slowly from $2,650 to $2,600.
2. *Stop-Loss*: Set a tight stop-loss just under $2,550.
3. *Monitoring*: Keep an eye on BlackRock's next moves, as institutional momentum matters.
4. *Targets*: $3,000 and $3,200+ if a breakout occurs.
*Strategy*: This plan combines technical analysis (support zone, RSI, and futures open interest) with institutional activity (BlackRock's acquisition). The goal is to capitalize on potential upside momentum while managing risk with a stop-loss.