⚡ $ETH / USDT – THE OVERSOLD BOUNCE PLAY
The higher timeframes are heavy, but the 1-hour RSI is screaming OVERSOLD at 36.93. This is a classic setup for a sharp counter-trend relief rally.
The trigger is precise: a break and hold above 2968.54 on the 1H chart confirms the short-term momentum flip. This is a scalp, not an investment. We're trading the bounce, not the trend reversal.
LONG SETUP:
ENTRY: 2956.642839 – 2968.537161 (On 1H breakout confirmation)
TP1: 2998.272968 (Initial resistance)
TP2: 3010.16729
TP3: 3033.955935 (Strong resistance zone)
SL: 2926.907033 (Below the local swing low)
This is a high-probability, risk-defined tactical trade. The oversold condition provides the fuel. The breakout level provides the signal.
Trade the momentum shift, manage risk tightly, and take profits swiftly. This is how you trade a bear market bounce.
