ETH closed yesterday with a strong bullish engulfing candle which from a intraday perspective broke above structure and formed a new higher high, price is now coming back down to retest the demand zone which caused the break of structure, if this zone holds we can expect price to continue this sideways movement in the range and potentially come all the way back up to the resistance of the range. IF the demand fails this setup is invalid.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.