ETH - The Bulls Are Strong 🆙

31 thg 8, 2023

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📊 After successfully surpassing the recent major high in blue earlier this week, Ethereum (ETH) is presently undergoing a retest around the 1690.0 level.

As a result, we are actively seeking trend-following buy opportunities to capture the next price surge.

📈 I will be closely monitoring lower timeframes for any bullish setups that can validate this potential reversal.

If such setups materialize, we can anticipate a move towards the 1800.0 supply zone.

📉 Conversely, if the bears manage to breach the 1690.0 support level, we should prepare for further downward movement towards the 1640.0 demand zone.

In this scenario, we will be on the lookout for new buy opportunities around the 1640.0 level.

Which of these scenarios is more likely to occur first, and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich