Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
ETH has been slight bullish for the last couple of weeks trading inside the red channel as a bullish correction.
📈 However, ETH is now approaching a strong resistance zone marked in purple, as it is the intersection of the upper red and orange trendlines.
For the bulls to remain in control, we need a break above the green zone and both trendlines.
📉 Meanwhile, ETH can still reject the purple zone and trade lower to test the lower red trendline again.
If the red channel is broken downward, then we will expect a deeper bearish movement till the 1700 support zone.
Which scenario is more likely to happen next? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ETH has been slight bullish for the last couple of weeks trading inside the red channel as a bullish correction.
📈 However, ETH is now approaching a strong resistance zone marked in purple, as it is the intersection of the upper red and orange trendlines.
For the bulls to remain in control, we need a break above the green zone and both trendlines.
📉 Meanwhile, ETH can still reject the purple zone and trade lower to test the lower red trendline again.
If the red channel is broken downward, then we will expect a deeper bearish movement till the 1700 support zone.
Which scenario is more likely to happen next? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.