Bullish falling channel of ETH
After nearly a month of consolidation, ETH broke through the range and moved upwards. Currently, it seems to have formed a bullish falling channel. The lower edge has been effectively touched 3 times, while the upper edge of the channel is yet to be determined. Draw a Fibonacci retracement from where ETH started to surge and draw a成交分布. It can be seen that VAH and 0.618 almost coincide, at around 2370, while POC and 0.886 almost coincide, at around 2230. Therefore, if the price reaches these areas, it is worth trying to go long.
Aggressive bulls can place ladder buy orders on the left side around 2370, while radical bulls can enter on the right side around 2370, with a stop loss below 2330. If the price continues to fall, aggressive bulls and radical bulls can place ladder buy orders on the left side around 2230, while conservative bulls can enter on the right side at these 2 positions, with a stop loss below 2160. The take profit target is above 2720.
For bears, aggressive bears can try to touch the high at the upper edge of the channel, with a take profit at the lower edge of the channel. If the price continues to fall into the range, radical bears can try to short on the right side around 2370, with a take profit target below 2160. Conservative bears are not recommended to participate.
I personally don't like to盯盘, and prefer left-side trading strategies. Trading strategies are time-sensitive, and all statements do not constitute any investment advice. I wish you all good luck~