Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
ETH has been overall bearish trading inside the red falling broadening wedge pattern. However, it is currently approaching the lower bound / red trendline.
Moreover, the 1500.0 is a strong support, demand and round number.
πΉ So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the 1500.0 and lower red trendline.
on H1: Right Chart
ETH is also bearish from a short-term perspective trading inside the falling blue channel.
πFor the bulls to take over, we need a break above the last high in blue.
Meanwhile, ETH would remain bearish and can still test the 1500.0 round number.
πIf the 1500.0 is broken downward from Daily timeframe, expect long-term bearish continuation!
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on Daily: Left Chart
ETH has been overall bearish trading inside the red falling broadening wedge pattern. However, it is currently approaching the lower bound / red trendline.
Moreover, the 1500.0 is a strong support, demand and round number.
πΉ So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the 1500.0 and lower red trendline.
on H1: Right Chart
ETH is also bearish from a short-term perspective trading inside the falling blue channel.
πFor the bulls to take over, we need a break above the last high in blue.
Meanwhile, ETH would remain bearish and can still test the 1500.0 round number.
πIf the 1500.0 is broken downward from Daily timeframe, expect long-term bearish continuation!
π 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
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal