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#VoteToListOnBinance $BTC Ethereum Technical Analysis 1. Technical Analysis: Trend Analysis: Ethereum (ETH) has been in a strong downtrend, forming lower highs and lower lows. However, recent price action suggests a potential reversal or at least a relief bounce. Support and Resistance: Support: ~$1,700 (recent weak low level marked on the chart). Resistance: ~$2,100 (previous supply zone). Chart Patterns: Breakdown from a descending channel, suggesting continued bearish sentiment. BOS (Break of Structure) confirms trend shifts at key points. Recent double bottom pattern near $1,700 suggests a potential short-term rebound. Candlestick Patterns: The recent green candles with wicks indicate buyers defending the lower levels. Volume Analysis: Increasing volume on bullish candles suggests potential buyer interest. Oscillators: RSI (Relative Strength Index) may be near the oversold zone, signaling a possible bounce. MACD might be flattening out, indicating potential bullish divergence. 2. Trade Setup: Scenario 1: Long Position (If Bullish Confirmation) Entry: $1,720 - $1,750 (near support) Take Profit (TP1): $1,950 Take Profit (TP2): $2,100 (major resistance) Stop Loss: $1,650 (below weak low) Scenario 2: Short Position (If Price Rejection at Resistance) Entry: $1,950 - $2,000 Take Profit (TP1): $1,800 Take Profit (TP2): $1,650 (strong support) Stop Loss: $2,100 (above resistance) 3. Risk Management: Risk-to-Reward Ratio: Ensure at least a 1:2 risk-to-reward ratio. Position Sizing: Use a maximum of 2-3% of total capital per trade. Monitor: Keep an eye on market news and ETH price behavior. Disclaimer: This is for informational purposes only, not financial advice. Conduct your own research and trade responsibly. 🚀📊 #ETH #Binance #VoteToListOnBinance #BinanceAlphaAlert #BSCMemeCoins
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