Buy at $143 - $165 (early May, end of April), sell at $375 - $385 (in summer 2024)
Shorts are ramping up again and a squeeze could be in order. Keep in mind this is a counter trend trade so don't expect this to go beyond previous highs. What I would suggest is look for an entry in the 397 to 414 range and aim for 580 as profit target. This is a high risk trade. Other indicators are also looking ready for a squeeze, it could take another 1 to 3...
The $770 support held strong, however we need BTC to close above $1250 on the daily to continue our up trend. If BTC doesn't manage, the whole crypto market probably goes down another legg. Expect a STRONG bounce from the final support box IF we even manage to get there. ETH might also form a double bottom at the $750 range so watch closely on a smaller time...
An overview of possible support zones for ETH to keep an eye on, the $950 dip got bought up strong so would be interesting to see how this plays out. Crypto always has surpises. Considering the volume of the previous down spike, we might not get another leg down. But then again, who really knows what the next ''catalyst'' will be. Let's see if we manage to get to...