Hello everyone

🔍 ETH: Support Reversal Analysis (Trade in Progress)

Guys, I didn't have time to publish this trade before it got too advanced, but this was my prior analysis and the logic I applied to $ETH:

1. The Thesis (Prior Analysis):
• Structure: I identified Ethereum testing the lower part of an ascending channel on the daily chart.
• Confluence: The Stochastic RSI was at 0.00 (extreme oversold) on the 1D timeframe, indicating a high probability of a technical bounce.
• Demand Zone: The price reacted at the support level of 2,772, validating the buying zone.

2. Trade Execution:
• 🔵 Entry: 2,831.96.
• 🛑 Stop Loss: 2,760.29 (Protected below the structural minimum).
• 🎯 Take Profit: 3,046.42.

3. Current Status:
• The price has already reached 2,957.60, approaching the intermediate resistance of 2,975.
• Management: With this advance, the trade is now at Break Even to protect capital. Now it's time to let it run towards the main target at 3k+.

Trading is not about guessing, it's about managing probabilities. Did you enter this bounce or are you waiting for 3,100? 👇

$ETH #binance #TradingCommunity #BinanceSquareFamily