After a strong rally from 2234 to 2384 on the 4H timeframe, it entered a pullback from highs. The 1H has confirmed CHoCH turning bearish, with consecutive lower highs: 2357→2343→2340→2331→2322. Price dropped sharply from 2331 double top to 2314, with 5M consecutive bearish candles and volume expansion downward.
Currently in a 1H bearish structure. The 4H larger timeframe has not completely turned bearish yet but momentum is weakening.
The 2294-2303 zone is a 4H level double sweep support area, and 2335-2343 is a 1H supply zone. In the bearish trend, prioritize shorting, with longs only taken as light positions at extreme support levels to trade bounces.
Core strategy: Wait for a bounce to the 1H supply zone 2330-2335 to place limit short orders, or wait for price to drop to the 2294-2303 support zone to observe stop-loss signals for longs. Do not open positions in the 2310-2325 middle zone.
$ETH March 18 Early Analysis
24h decline -2.37% (-56 points).
After a strong rally from 2234 to 2384 on the 4H timeframe, it entered a pullback from highs. The 1H has confirmed CHoCH turning bearish, with consecutive lower highs: 2357→2343→2340→2331→2322. Price dropped sharply from 2331 double top to 2314, with 5M consecutive bearish candles and volume expansion downward.
Currently in a 1H bearish structure. The 4H larger timeframe has not completely turned bearish yet but momentum is weakening.
The 2294-2303 zone is a 4H level double sweep support area, and 2335-2343 is a 1H supply zone. In the bearish trend, prioritize shorting, with longs only taken as light positions at extreme support levels to trade bounces.
Core strategy: Wait for a bounce to the 1H supply zone 2330-2335 to place limit short orders, or wait for price to drop to the 2294-2303 support zone to observe stop-loss signals for longs. Do not open positions in the 2310-2325 middle zone.