Main focus $ETH | Strategy is long, first set the stage for $ETH
Long $ETH, don’t rush to frown, this wave is a "bull is coming" style pullback repair, not random bottom fishing. Current price 2511, can buy near the 2500 pullback, stop loss at 2390 (below the double bottom 2405/2407, if broken, exit), targets as per chart: T1 2549 reduce half, T2 2561 clear position, don’t be greedy facing resistance at 2586. Leverage capped at 1-2x, tonight’s September CPI release, don’t bet your entire stake on the night’s mood.
A harsh friend’s advice: the 2405 floor was tested once on 10/08 and again on 10/13 without breaking, this is "can’t break through", not "will crash again." Let the bullets fly a bit on the double bottom, you just hold steady.
What’s the market fussing about
First, the external cooling: last night US stock indexes closed slightly down, Dow -0.35% at 51670, S&P -0.02%, Nasdaq -0.15%, Fed’s third-in-command Williams softened his tone: one more rate hike this year is enough, no need for further dull cuts next year. Tonight’s CPI is the last inflation draft before the 10/27 rate decision, the market has priced in at least three rate hikes, the actual release may actually clear the bad news.
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