ETH - Top-Down Analysis!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
DAILY: Left Chart
ETH is overall bullish trading inside the orange channel, and now approaching the lower orange trendline acting as non-horizontal support. So we will be looking for trend-following buy setups.
Moreover, the zone 3000 is a strong resistance turned support.
H1: Right Chart
ETH is forming a channel in red but the upper trendline 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 => For the bulls to take over, we need to see a break above the upper red trendline and last high.
Meanwhile, until the buy is activated, ETH can still trade lower inside the horizontal green support.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DAILY: Left Chart
ETH is overall bullish trading inside the orange channel, and now approaching the lower orange trendline acting as non-horizontal support. So we will be looking for trend-following buy setups.
Moreover, the zone 3000 is a strong resistance turned support.
H1: Right Chart
ETH is forming a channel in red but the upper trendline 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 => For the bulls to take over, we need to see a break above the upper red trendline and last high.
Meanwhile, until the buy is activated, ETH can still trade lower inside the horizontal green support.
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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RichTL.com
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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