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Yesterday we mentioned that ETH is forming a bottom around 1750, and that the ETH/BTC exchange rate is strengthening. In the near term, shorting comes first—i.e., shorting the “big pancake” first. For going long, you can choose between the big pancake and the “two pancakes” to do together.
The “two pancakes” have broken through the prior 1500–1840 ranging range. On the left-side short, you must participate around 1960, or you can short on the right side if “two pancakes” fall through 1850.
Support to watch is 1850 and 1760. If it doesn’t break below 1760, you can continue to expect upside.
My personal plan: pull back to 1850 (watch the chart for a short-term loss and then go long), go long at 1760, short at 1960, and if it falls below 1850, then short again (short on the breakdown).