Ethereum rejected our previous ATH once. WHAT NEXT?
Will ETH give us another opportunity to ride the next impulse?
ETH is overall bullish trading inside the orange channel so we will be looking for Trend-Following Buy setups as it approaches our lower orange trendlines. Knowing that Ethereum can still trade higher aggressively from here, without us on board.
Moreover, the area 1450-1500 is a "Resistance turned into Support".
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of support and lower orange trendline.
As per my trading style:
I will be waiting for it to approach the lower trendline to look for possible buy setups (like a double bottom, trendline break and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Will ETH give us another opportunity to ride the next impulse?
ETH is overall bullish trading inside the orange channel so we will be looking for Trend-Following Buy setups as it approaches our lower orange trendlines. Knowing that Ethereum can still trade higher aggressively from here, without us on board.
Moreover, the area 1450-1500 is a "Resistance turned into Support".
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of support and lower orange trendline.
As per my trading style:
I will be waiting for it to approach the lower trendline to look for possible buy setups (like a double bottom, trendline break and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
