📈 Market Context:
Traders are currently anticipating a potential 0.25% rate cut at the September FOMC meeting, which continues to support the broader bullish outlook.
While the market pulled back following weaker-than-expected Non-Farm Payroll data, overall sentiment remains optimistic.
Greed has cooled off into a more neutral stance. Historically, August often brings some consolidation or pullbacks — but the structural bias for crypto market remains bullish.
🧾 Weekly Recap:
ETH started the retracement movement after building a bullish trend over the past couple of weeks.
It’s mainly being affected by Bitcoin's bearishness, so we’re closely following BTC’s price action.
ETH has tapped into the Weekly Fair Value Gap, which is a key level for me.
We may see a bounce from here.
📌 Technical Outlook & Game Plan:
I expect to see another low on ETH before we go up — as I’m also anticipating one more leg down on Bitcoin.
So I’ll wait for a final bearish expansion and a trap for late sellers before positioning for longs.
After that, I want to see price closing above the purple line at $3500.
🎯 Setup Trigger:
A candle close above the $3500 level will be my signal to look for long setups.
📋 Trade Management:
Stoploss: Below the swing low that breaks above $3500
Take Profit: Targeting $3870, but will trail and lock in aggressively in case of deeper downside expansion.
💬 Like, follow, and comment if this breakdown supports your trading! More setups and market insights coming soon — stay connected!
Traders are currently anticipating a potential 0.25% rate cut at the September FOMC meeting, which continues to support the broader bullish outlook.
While the market pulled back following weaker-than-expected Non-Farm Payroll data, overall sentiment remains optimistic.
Greed has cooled off into a more neutral stance. Historically, August often brings some consolidation or pullbacks — but the structural bias for crypto market remains bullish.
🧾 Weekly Recap:
ETH started the retracement movement after building a bullish trend over the past couple of weeks.
It’s mainly being affected by Bitcoin's bearishness, so we’re closely following BTC’s price action.
ETH has tapped into the Weekly Fair Value Gap, which is a key level for me.
We may see a bounce from here.
📌 Technical Outlook & Game Plan:
I expect to see another low on ETH before we go up — as I’m also anticipating one more leg down on Bitcoin.
So I’ll wait for a final bearish expansion and a trap for late sellers before positioning for longs.
After that, I want to see price closing above the purple line at $3500.
🎯 Setup Trigger:
A candle close above the $3500 level will be my signal to look for long setups.
📋 Trade Management:
Stoploss: Below the swing low that breaks above $3500
Take Profit: Targeting $3870, but will trail and lock in aggressively in case of deeper downside expansion.
💬 Like, follow, and comment if this breakdown supports your trading! More setups and market insights coming soon — stay connected!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.