ETHEREUM - Detailed Road Map!
Ethereum 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. WHAT NEXT?
SHORT-TERM Road Map:
ETH is now trading above our orange trendlines and below the ATH.
1- First, as mentioned, we will be looking for short-term buy setups around the lower orange trendlines.
2- Then, as ETH approaches our upper blue zone (ATH) we will be looking for short-term sell setups on lower timeframes.
LONG-TERM Road Map:
We have two possible scenarios here.
1- Full Reversal, and yes it is possible since ETH is sitting around its ATH, however, for the reveal to be confirmed, ETH has to break not only the lower orange trendlines downward but also the last swing low as shown in gray area. (projection in red)
2- Trend-Continuation, which we are all waiting for, for the bulls to take full control again, ETH has to break aggressively above the blue zone (ATH), in this case, we will be looking for trend-following buy setups on its retest, around the upper orange circle (purple projection)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
SHORT-TERM Road Map:
ETH is now trading above our orange trendlines and below the ATH.
1- First, as mentioned, we will be looking for short-term buy setups around the lower orange trendlines.
2- Then, as ETH approaches our upper blue zone (ATH) we will be looking for short-term sell setups on lower timeframes.
LONG-TERM Road Map:
We have two possible scenarios here.
1- Full Reversal, and yes it is possible since ETH is sitting around its ATH, however, for the reveal to be confirmed, ETH has to break not only the lower orange trendlines downward but also the last swing low as shown in gray area. (projection in red)
2- Trend-Continuation, which we are all waiting for, for the bulls to take full control again, ETH has to break aggressively above the blue zone (ATH), in this case, we will be looking for trend-following buy setups on its retest, around the upper orange circle (purple projection)
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
RichTL.com
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