Focus on $ETH | Strategy: Long position, conclusion first, don't blink
Last week, $ETH was still being called the "jinx male lead," but these days it has completely changed the script: from a $2,357 bottom with a V-shaped rebound and four consecutive bullish candles, it touched $2,708 intraday today. The unlucky character now falls on the shorts. Here's the strategy first——$ETH current price $2,655, go long with 3x leverage, place buy orders on pullbacks at $2,620-$2,640, stop loss at $2,575, first target to take half profit at $2,690, then hold the rest to bet on a breakout above $2,708 and look towards $2,790. The reason in one sentence: last Friday saw a net inflow of $566 million into positions, which doesn't look like retail investors, but more like a scripted reversal written in advance.
Market news next door
The Federal Reserve raised interest rates by 25 basis points on 9/17, the first hike since July 2023, and the dot plot still leaves room for more hikes this year. The market is playing out a "bad news is already priced in" scenario: last Friday, the Dow Jones fell 0.18%, the Nasdaq rose 0.39%, the S&P 500 rose 0.17%, Nvidia rose 1.34% leading the semiconductor sector, ARM rose over 4%. The Bank of Japan also raised rates to 1.25% the same week, the highest in 30 years, as central banks worldwide tighten their belts.
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
