If we look at the intraday picture (H1) — it's all simple: €$ETH
For the ether to go higher, it is necessary to secure the body of the hourly candle above $4,082; until we see this, the growth is in question.
If there is no such securing, the correction continues.
The nearest supports are $3,916 (the price didn't quite reach it at night, so there may be a repeated attempt to push it) and $3,759.
From these levels, it makes sense to look for local bounces and scalping longs
But on the daily timeframe, the situation is even more interesting:
We see a triangle, within which long and short traders opened positions (not realizing that their chance of success is about 50-50), and the price broke upwards, taking out stop losses and liquidations (liquidity) of short traders above dynamic resistance.
What happened at that moment? We gained an advantage over the short traders who entered the triangle. What happened right after? A correction to ~3900$.
To find a confident, cool, safe long, we need an advantage over the crowd of long traders. And it will only appear if the price goes beyond their stop losses and liquidations (and they are below the level of 3700$).
Therefore, if you are looking for a reliable, safe trade, your entry points are: 3615$ - 3560$
This could become a zone where energy for a strong bounce appears. The market may not provide ideal points, and that’s okay.
The main thing is that in case of manipulation, you will know where your trade is and why.
🍋Patience and understanding of levels are always better than guessing the direction.
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