![Ethereum [ETH] bulls, watch for a reaction at these levels to buy](https://i.headtopics.com/images/2023/2/7/cryptoamb/ethereum-eth-bulls-watch-for-a-reaction-at-these-l-ethereum-eth-bulls-watch-for-a-reaction-at-these-l-1622800571244875776.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The 4-hour market structure is bearish. Buyers can await a deeper pullback, while sellers watch the $1680 mark. Ethereum has shown substantial volatility over the past week as the price fluctuated from $1555 to […]
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Buyers can await a deeper pullback, while sellers watch the $1680 mark.
From a risk-to-reward perspective, a breakout past $1680 and a retest would require careful planning and risk management from a bull’s perspective.The H4 structure flipped bearish when the higher low set on February 3 at $1625 was broken on February 5. This break downward saw the H4 FVG retested. A shallow dip into the FVG might not be enough to effect a strong move upward.
A bullish structure break on the 1-hour chart around this area could give buyers enough confidence to enter a long position targeting $1680. The stop-loss can be set below $1535.From a risk-to-reward perspective, a breakout past $1680 and a retest would require careful planning and risk management from a bull’s perspective.The Open Interest increased during times when the price saw near-term surges. Similarly, the OI receded when the price slipped lower.
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