🚨 $ETH - Update & Action (1h)
📉 Price Evolution
Yesterday: Long setup with target 3323.1 (Balanced Target).
Today: Rally to 3438.43 (above target), followed by a strong retracement to 3240.31 (-6% from the top).
Critical Volume:
16:00: Spike at 16,462 ETH (bullish breakout).
19:00-22:00: Heavy selling (10,532 ETH and 7,082 ETH).
🔍 Technical Analysis
Market Profile Today
Value Area (VA): 3314.3 - 3428.7 (current price below VA)
POC: 3428.7 (maximum volume, key resistance).
Profile Range: 3240.35 - 3428.7 (price at the low of the range).
Key Dynamics
Rejection at POC (3428.7): Strong selling pressure after the breakout.
Breakout of Initial Balance (3256.37-3338.62): Short-term bearish signal.
Volume in Distribution: Volume spikes in retracement indicate profit-taking/panic selling.
🎯 Stock Valuation
Scenario 1 (Bearish):
If the price remains below 3240.35 (Profile Range low): Possible test of 3200 (psychological support).
Short Entry: Break below 3240.35 with target 3200-3180. Stop loss above 3279 (VA low yesterday).
Scenario 2 (Rebound):
If I bounce above 3272.08 (Open Range high): Attempt to re-enter VA. Target 3314.3 (VA low today).
Recommended Stop Loss:
Possible long: Close below 3240.
Short: SL above 3279.
⚠️ Critical Notes
High Volatility Risk: Violent movements after the rally/rejection.
Hourly Confluence: Watch out for closes below 3240 (bearish day timeframe).
Immediate Actions:
Close long positions (the setup is invalidated).
Monitor 3240.35 for bearish confirmation or tactical rebound.
Stay alert! 🛑 #Ethereum #TradingStrategies💼💰
Data: 01/02/2025 10:40:44
