📈ETH: wait for this pump! Don't fall into the trap.

21 ביוני 2022

Hi friends! The price of Ethereum rose by 30% after the last dump and it`s by 10% to the closest resistance. In this idea i explain you where is the potential entry point, because after such growth we have to wait for some local pullback.

The Ethereum price is squeezing to the trendline and even breakout it now. It`s a good for the crypto, because it`s a first sign of bullish strength. The price reach the $1200-1260 value area with the high possibility but should you open a trade after such pump? I don`t think so, only if you buy for spot at using DCA.

I think we need to wait for the pullback and return the ETH to the trendline. Some long traders who open a trades now will be traped and after this we can open our positions.

If this scenario will be successful and price return below the trendline to open a trade we need to wait for:
1. squeezing under the trendline again
2. volume growth at the vol. indicator which shows us the pressence of buyer

Targets:
$1200-1260 - value area
$1432-1484 - value area

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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.