Pattern Structure: ETH is currently displaying three distinct phases of the market cycle: contraction, expansion, and the ongoing mark-up phase. This indicates a bullish area in the market. Understanding these phases can help traders anticipate potential price movements and position themselves accordingly.
Probability of Move: Considering the completion of the contraction and expansion phases, the current mark-up phase suggests a higher probability of a bullish continuation. Traders should carefully analyze price action and other supporting indicators to validate this probability and make informed trading decisions.
Trade Setup: Entry Level: The recommended entry level for ETH is $1830. Target: The target for this trade is set at $1932. Stop Loss: To manage risk, a stop loss level of $1820 is suggested.