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7.10 $ETH Market Analysis (with Long/Short Levels): The battle at the bull-bear watershed has a result
Yesterday, the bull-bear watershed for Ethereum was mentioned at 1755. The price pulled back from 1755 several times yesterday. Today, a large bullish candle successfully broke through this level, so on the smaller timeframes, the offense and defense have switched.
So don't resist the trend, don't go in with a preconceived notion that it will still fall. If there is a retest of the 1750-1755 area, prioritize looking for longs. How to judge that the trend has turned bad again: the hourly close below 1735 is sufficient.
Look to take partial profits at the resistance area of 1808-1820. The risk-reward ratio is already clear, very worth playing. The reason for going long again here is just because the stop loss is small and the structure is clear, it doesn't mean it must go in this direction. This is for reference only.