Hello everyone, if you like the idea, do not forget to support with a like and follow.
ETH is overall bullish from a long-term perspective trading inside the brown rising channel.
ETH is now approaching the lower brown trendline so we will be looking for buy setups.
Before we buy, we want the bulls to take over by breaking above the previous major high.
on DAILY: ETH is forming a trendline in gray but it is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, ETH would be overall bearish from a medium-term perspective and can still trade lower till the 2000.0 support in green before going up.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ETH is overall bullish from a long-term perspective trading inside the brown rising channel.
ETH is now approaching the lower brown trendline so we will be looking for buy setups.
Before we buy, we want the bulls to take over by breaking above the previous major high.
on DAILY: ETH is forming a trendline in gray but it is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, ETH would be overall bearish from a medium-term perspective and can still trade lower till the 2000.0 support in green before going up.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich