Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
ETH has been overall bullish trading inside the rising broadening wedge pattern just like BTC.
However, it is currently sitting around a strong rejection zone:
ð Here is why the 2000 is a strong rejection:
1- Round number
2- Daily Resistance
3- Previous Major High
ð For the bulls to remain in control, we need a daily candle close above 2000.
In this case, a movement till the upper bound of the wedge pattern would be expected, which would be around the weekly supply zone 2250
ð Meanwhile, the 2000 is acting as a resistance, and if we break below the orange channel downward, the bears would take over for a correction.
In this case, a movement till our previous support 1750 would be expected.
Which scenario do you think is more likely to happen first? and why?
ð 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 overall bullish trading inside the rising broadening wedge pattern just like BTC.
However, it is currently sitting around a strong rejection zone:
ð Here is why the 2000 is a strong rejection:
1- Round number
2- Daily Resistance
3- Previous Major High
ð For the bulls to remain in control, we need a daily candle close above 2000.
In this case, a movement till the upper bound of the wedge pattern would be expected, which would be around the weekly supply zone 2250
ð Meanwhile, the 2000 is acting as a resistance, and if we break below the orange channel downward, the bears would take over for a correction.
In this case, a movement till our previous support 1750 would be expected.
Which scenario do you think is more likely to happen first? and why?
ð Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ðI 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
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ðI 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
āļāļģāļāļģāļāļąāļāļŠāļīāļāļāļīāđāļāļ§āļēāļĄāļĢāļąāļāļāļīāļāļāļāļ
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