ETH - It Is What It Is 👌

6 lip 2023

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

ETH has been stuck inside a range in the shape of a flat rising broadening wedge.

Moreover, the zone 1830 is a strong support.

🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline.

As per my trading style:
As ETH approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📉 On the other hand, if the green support zone is broken downward, expect further bearish movement till the 1730 demand zone.

Which scenario do you think is more likely to happen? and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich