Ethereum has tapped into a key breaker block on the weekly timeframe. This level has historically acted as a springboard for major moves. The confluence of demand in this zone suggests a high-probability reversal setup in play.
Support Zone: $1,795 - $1,832 (Order Block)
Current Price: $2,074
Target: $4,093+ (97% upside potential)
Stop Loss: $1,795 (Risk ~13.45%)
Risk/Reward Ratio: 7.23
Worst case, if the breaker fails then we could see a test of the order block below.
The strategic cryptocurrency reserves by the money-printing machine (USA) add another layer to this thesis. This could be the shakeout before the next major rally.
Stay patient, manage risk, and let price action confirm the move.
Support Zone: $1,795 - $1,832 (Order Block)
Current Price: $2,074
Target: $4,093+ (97% upside potential)
Stop Loss: $1,795 (Risk ~13.45%)
Risk/Reward Ratio: 7.23
Worst case, if the breaker fails then we could see a test of the order block below.
The strategic cryptocurrency reserves by the money-printing machine (USA) add another layer to this thesis. This could be the shakeout before the next major rally.
Stay patient, manage risk, and let price action confirm the move.
Lord MEDZ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Lord MEDZ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.