Eth's pinpoint prediction hit around 1850, I've already flipped my longs to shorts as planned, currently holding a short position near 1845, which is pretty much the peak. I've racked up about sixty to seventy points in profit, and I've set a breakeven stop-loss strategy in place.
In the short term, this bounce is likely coming to an end, as the chart patterns suggest a double bottom followed by a significant rebound. This recent high aligns perfectly with the 1.618 Fibonacci level, confirming it as a resistance zone. On a smaller time frame, keep an eye on the support level around 1700; if we break below that, we could see new lows. So, let's stick with the breakeven stop-loss strategy for our shorts!
In the short term, this bounce is likely coming to an end, as the chart patterns suggest a double bottom followed by a significant rebound. This recent high aligns perfectly with the 1.618 Fibonacci level, confirming it as a resistance zone. On a smaller time frame, keep an eye on the support level around 1700; if we break below that, we could see new lows. So, let's stick with the breakeven stop-loss strategy for our shorts!