$ETH - Bullish Buy Entry Since Break Of Structure (1496)Since the most recent low of 1293, we have surpassed an intermediate high signifying a break of structure, hopefully turning a bit more bullish although I fully expect ETH to go sideways for quite some time due to gas fees and Cardano and PolkaDot taking up market share. Nevertheless, Etheereum is still in a class of it's own. I am expecting a pull back below current sell-side liquidity points but not lower than the bounce at 1420 or else that would shift the market structure bearish again in which you should be out of the trade anyway. Exit strategy would be to aim for equal highs where there are around 1605, 1677, and the last spike up around 1715. The third target is at the 162% extension which is a great confluence with this trade. These are my take profit zones.
Checking on the 4 hour time frame is where I derived most of this idea. However there is a small gap that it could reach if it does get past the stop loss. 1398 -1413 is the "NO, But if Yes Entry" Zone. I don't want to see it get here but if it does I will reluctantly enter a trade once it EXITS this zone, not while it is entering it as it could drive down even further.
Let me know your thought's. And Good Luck!
