ETH · 1H · UPTREND
Price was grinding in a tight 1,880–1,960 range for weeks, then erupted vertically around August 19–20, printing a near-parabolic move from roughly 1,960 all the way up to 2,540 before pulling back to the current 2,443 area. That kind of vertical expansion followed by a pause — not a collapse — tells me the trend is still intact and this is a time correction, not distribution. Price is holding well above the breakout zone and has not printed a lower high yet on the 30-minute structure visible here. I'm not chasing the highs but I'm not fighting this either — the structure is clearly bullish and I'm looking for a defined re-entry level where the risk is controlled.
LONG SCENARIO
Confirmation
2,416
Holding above 2,416 (dense liquidation cluster below — buyers absorbing that zone) and closing a 1H candle above 2,474 confirms continuation of bullish structure; that local resistance flip is the trigger.
Invalidation
2,356
A 1H close below 2,356 (dense liquidation cluster — a sweep and reclaim is fine, but a clean close below it shifts structure bearish and I'm out).
Target 1
2,571
Dense liquidation cluster above, this is where the move most likely stalls as shorts get squeezed and fuel exhausts.
Target 2
2,625
Next liquidation cluster and next significant structural level above; measured move from the breakout base also points here.
Risk/Reward
(2,571 − 2,474) / (2,474 − 2,356) = 97 / 118 ≈ 0.8:1 to T1; to T2: (2,625 − 2,474) / (2,474 − 2,356) = 151 / 118 ≈ 1.3:1
Resistance: 2,474 / 2,571 / 2,625
Support: 2,416 / 2,356 / 2,206
This is not financial advice. Content is AI-generated.