Main focus $ETH | Strategy is long, first take control of the $ETH situation
Long $ETH, don’t rush to frown, this wave is a "bull is coming" style pullback repair, not reckless bottom fishing. Current price 2511, you 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 the 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 over the double bottom for a while, you just keep your hands steady.
What’s the market fussing about
First, the external cooling: last night the three major 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, so the actual release might be a relief sell-off.
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