ETH/USD Analysis (7th April 2024)

ETHUSD Analysis

On the 4 hour timeframe, price created a retracement after creating the all time highs at 4091.

After retracing, price action created a bullish CHOCH with a body candle close at 3389.10. This indicates bullish continuation is possible after some retest of the bullish orderblock.

The most recent price action retested the orderblock and has created another bullish Change of character with a wick candle closure above the level 3388.86. Ideally i want to see price break above 3439.81 with a body candle close to look for longs.

Else, should price go bearish, I want to see 3216.44 get broken below with a Body candle close, looking for a break and retest to continue shorting.