🗒 Gate.io Suggested Topics Posting Event: #Ethereum Pectra Upgrade#
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The Ethereum Pectra upgrade goes live on May 7, bringing improved account features, better validator experience, and L2 support. Will it boost ETH’s price? Share your thoughts, predictions, and trading strategy with #Ethereum Pectra Upgrade# for a chance to win $50!
⏰ Event Time: May 6, 4:00 AM - May 7, 4:00 AM (UTC)
⚠️ Notes: Plagiarism is prohibited; original content is encouraged.
#BTC/USDT#
Trend Analysis:
Current Trend: Bullish overall (strong impulse move up with higher highs and higher lows).
Recent Activity: Price is consolidating just below the 1D high (resistance zone). Slight rejection near the top, indicating a pause or potential retracement.
Support Zone: Around 92,728 - 92,559, marked by the red lines and aligns with the 240H low and 0.236 Fibonacci level.
Entry Idea:
You could consider two types of entries based on price action:
1. Breakout Entry (Aggressive):
Entry: Above 1D high (~94,000) after a confirmed breakout with volume.
TP: Next psychological level near 95,500 - 96,000.
SL: Below 1D high (~93,500) or 240L (92,728) to avoid fakeouts.
2. Pullback Entry (Safer):
Entry: Around 92,700 - 92,500 (area of interest + support + Fibonacci 0.236).
TP1: 94,000 (1D high)
TP2: 95,500
SL: Below 92,000 (just under 1DL and structure support)