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Okay, I just opened a small long position on ETH at 2047.50. I'm looking for a move back up towards the 2060 level, maybe even a retest of that R1 pivot point around 2077 if we get some momentum. I'm keeping my stop loss fairly tight, around 2035, just in case this is a fakeout.
So, about that ETH long position I just opened... I'm also looking at the 200 SMA which is sitting around 2028.95. That could act as some pretty solid support if things turn south. The Fed news about possible rate cuts in June is also making me a little more confident that we might see some upward movement in the short term, even though the Trump trade probe adds uncertainty. I'm thinking of moving my stop loss up a bit if we break above 2050, maybe to around 2040 to lock in some profit. It's all about managing risk, right? Let's see what happens...