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#ETH Wednesday Night April 15th Bitcoin Analysis and Strategy
Although Ethereum briefly broke above the bullish flag pattern’s upper boundary during the night, it was unable to hold above 2333 in the body of the candle, with multiple attempts to push higher being met with resistance and a pullback, indicating significant selling pressure at this level.
Currently, 2333 is a critical dividing line for ETH bulls and bears:
If it cannot hold steady here, the likelihood of a continued decline is much greater than a rebound.
Only a successful breakout above 2333 can open the upward space, targeting the resistance zone of 2368-2393, and further testing previous highs.
If it falls back and drops inside the flag pattern again, it will retest the support level at 2273 below.
Wednesday Night April 15th Bitcoin Trading Strategy:
Volume breakout above 2327, go long on the right side
Volume breakdown below 2305, go short on the right side
1-hour: Hold above 2333, look for 2371-2397 above
4-hour: Break below 2307, look for 2272-2236 below