Technical analysis by King_BennyBag about Symbol ETH: Buy recommendation (6/5/2025)

ETH / USDT – 4H Time Frame AnalysisStructure: Bullish Flag | Outlook: Neutral-Bullish | Target: $3000?🔹 Chart Overview-Pattern: Bullish Flag (continuation structure)Current Range:- Supply Zone: $2,680.00 – $2,786.21- Demand Zone: $2,319.79 – $2,417.61Price Action: - Tight consolidation between higher lows and lower highs, forming a symmetrical triangle within a flag structure.Trend:- Consolidation, but within a macro uptrend (prior strong rally).Volume Profile: - Anchored Volume shows high participation around $2,540–$2,600.OBV: - Flattening, signaling indecision and potential energy buildup.Key Psychological Levels:$2,860: Minor resistance from past S/R flips.$3,000: Major round-number psychological resistance.📐 Technical ConfluencesFibonacci Retracement:- The 0.618 golden pocket aligns with the support trendline, reinforcing this as a critical zone.Fair Value Gaps (FVG):- Above Price: Acts as a magnet in bullish continuation.- Below Price: Risk zone if price drops; aligns with liquidity and trendline support.- Liquidity Zone: Aligned with 0.5–0.618 retracement; strong reaction expected.📈 Bullish ScenarioBreakout of Pennant Resistance:- A clean break above $2,786 (supply zone & swing high) with volume.Close above Upper FVG and Liquidity Zone:- Confirms bullish intent. Targets psychological level at $2,860, then $3,000. Volume Confirmation:- OBV uptick and high breakout volume would validate the move.Bullish Target Zones:TP1: $2,860 (psych level + previous resistance)TP2: $3,000 (major psychological level)TP3: $3,120–$3,180 (1.618 Fib extension)📉 Bearish ScenarioRejection from Current Supply or Liquidity Zone:- Fails to break above supply; rolls over from the upper pennant line.Break Below Support Trendline:- Break below golden pocket and $2,417.61 demand zone.Invalidation of Bullish Flag:- A breakdown below $2,319.79 (swing low) invalidates the bullish flag and may signal a trend reversal.Bearish Target Zones:TP1: $2,200 (local volume gap + structure support)TP2: $2,060–$2,120 (previous accumulation zone)TP3: $1,950 (macro support & last strong demand)✅ SummaryStructure: - Price is compressing within a bullish continuation pattern, awaiting breakout confirmation.Bias: Slightly bullish unless the swing low at $2,319 is broken.Confirmation Needed: - Break above or below pennant boundaries with volume.