Eth Long

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Eth Long Ethereum / TetherUSBINANCE:ETHUSDTlojjkkjvvvOk. So this might be one of the boldest trades one can take in such market conditions. Honestly, i panicked in sweat during this dip which usually means Fear in the market at its extreme. Now imagine BTC ended oct in red, which usually means (based on history) that there is a 40% drop in BTC price incoming. This will usually nuke the crypto and altcoins matket. However, i came home and checked the monthly chart for ETH, which honsetly showing nothing but bullish vibes. All analysis is based on the monthly timeframe (TF). ETH shows a clear V-shape recovery (CSID structure) on the monthly chart. Price currently sits around the 0.5 Fibonacci retracement level. ETH is trading within a Monthly Fair Value Gap (FVG). The structure is resting on a strong support zone (yellow box). These combined elements indicate a bullish bias, not bearish. From a liquidity perspective, the $4,500–$4,950 USDT zone forms a major liquidity pool likely to attract price. On a higher zoom-out, price has already taken liquidity above the November 15 2021 high. Therefore, from a liquidity-analysis standpoint, there remains potential for ETH to climb above $4,900 in the future. i have set a one SL. Lets hope for the best in such market conditions.