KEY 🗝️ OBSERVATIONS:
1. Price: ETH/USDT is trading at $3,374.18, down 1.50%.
2. Moving Averages (MA):
MA(5): 218.4
MA(10): 232.65
MA(60): 3,360.3
The short-term MA lines are higher than the longer-term MA, indicating an uptrend.
3. MACD:
DIF: 4.35
DEA: 3.44
MACD Histogram: Positive, signaling bullish momentum.
4. Volume: High trading activity suggests significant market interest.
TRADING PLAN:
Scenario 1: Long Position (Expecting Price to Rise)
Entry Point: Enter above $3,376. If the price breaks this resistance level, it may confirm further upside.
Stop Loss: Set at $3,350 to limit downside risk.
Take Profit:
Primary Target: $3,400 (near the recent high).
Secondary Target: $3,442 (24h high for the day).
Indicators to Watch: Confirm that the MACD remains bullish and volume sustains as the price climbs.
Scenario 2: Short Position (Expecting Price to Fall)
Entry Point: Enter below $3,360 (below the MA60 line for confirmation of weakness).
Stop Loss: Set at $3,380 to cap losses if the trend reverses.
Take Profit:
Primary Target: $3,330.
Secondary Target: $3,300 (psychological and technical support level).
Indicators to Watch: A bearish crossover in the MACD or reduced trading volume would confirm a downward move.
CONTINGENCY PLANS:
1. Plan A: If the price oscillates without clear momentum:
Stay neutral and monitor the breakout above $3,376 or breakdown below $3,360.
2. Plan B: If a false breakout occurs:
Adjust stop loss closer to the entry point to protect capital.
Look for confirmation signals like MACD divergence or significant volume spikes.
3. Plan C: If the trend goes against your position:
Exit manually and reassess the market before re-entering.
4. Plan D: Combine support/resistance levels with RSI to identify potential overbought/oversold conditions for scalping opportunities.
RECOMMENDATIONS:
Use smaller position sizes if volatility spikes unexpectedly.
Review multiple timeframes (e.g., 1-hour and 4-hour charts) for confirmation of trends.
Update your strategy dynamically based on new data.
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