ETH - Rejection Zones Ahead 🔃

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 orange flat rising broadening wedge pattern.

📈 Lately, ETH rejected the upper bound of the wedge pattern and now trading lower as a correction phase.

For the bulls to take over again medium-term, we need a break above the red resistance.

📉 Meanwhile, If / As ETH approaches the lower bound of the wedge pattern and blue support, we will be looking for buy setups.

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

TheSignalyst

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TheSignalyst

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