Dear fellow fans, ETH is currently in the accumulation phase of the Wyckoff method. This is discreet accumulation by capital, and it will involve a decline, sideways trading, and then a rise. The target for the uptrend is at least 2,320 for now; you can reduce your position there.

Market sentiment is starting to shift from fear and numbness to cautious optimism. I believe a recovery will come soon. Dip buyers in U.S. stocks are starting to take profits, and market sentiment is turning optimistic, setting the stage for a new wave of buying.

If we see a bullish candle, you can go long, but lower your leverage and position size: around 35x leverage and a 6% position, with a stop-loss at 2,220.
Buy-the-dip strategy
Place a long order at 2,233, with a stop-loss at 2,220.

The move near 2,253 is a fake breakout, but I think a genuine rally isn't far off. Stay strong and hold on. Later, I’ll put out this issue’s bull-trap scenario: prices could be pushed higher on Saturday and Sunday, followed by a sharp distribution on Monday morning between 4:30 and 5:30, with no pullback along the way. These next two days might be an opportunity to make big money.