ETH - Long-term Possible Scenarios 📈📉

7 thg 5

Hello TradingView Family / Fellow Traders,

As per my last analysis, ETH rejected the $2900 - $3000 support and traded higher.

What's next?

Scenarios:

1️⃣ Bullish

For the bulls to take full control again, a break above the last high marked in orange is needed.

In this case, a movement towards the $4000 resistance would be expected.

2️⃣ Bearish

In parallel, if the $2,900 support is broken downward, we expect a bearish movement towards the $2,400 - $2,500 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