ETH - Make or Break Zone!

3 Jun

Hello TradingView Family / Fellow Traders,

ETH has been hovering within a narrow range in the shape of a flat rising channel around a massive resistance zone $4,000 - $4,100.

What's next?

Scenarios:

1️⃣ Bullish - Continuation

The bulls maintain control as long as ETH is trading within the rising channel marked in red.

In this case, a movement towards the $4,000 - $4,100 resistance zone would be expected.

2️⃣ Bearish - Correction

If the last low marked in green is broken downward, we will expect the bearish correction to start leading to a movement towards $3,100 demand zone.

Which scenario is more likely to happen first? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr