ETH BREAKOUT??
2024-11-07

Simple chart with key levels shown. After the Trump victory price has broken out from the downtrend of 7 months. So far the breakout has been capped at the major resistance level of $2850. It's a clearly important S/R level with clear TPs on the way back up to local high.

Entry is a tricky one, the macro is clearly bullish with the election news + interest rate cuts happening globally. A safer entry would be a flip of the resistance @ $2850. 
A second entry would be the green box and still broken out of the downtrend. That would make the entry closer to being wrong and therefor better R:R but for me less probable as $2850 is still major resistance. 

Invalidation is under the green area around $2700 and falling back under the downtrend, approx -6.5% under the possible entry once the S/R is flipped. 

