Ethereum broke its previous ATH. WHAT NEXT?
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 very strong area to look for buys setups as it is the intersection of a support, previous ATH 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
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 very strong area to look for buys setups as it is the intersection of a support, previous ATH 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
Trading Made Simple; and Rule-Based
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
