ETH - Now We Wait ⏱

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

ETH has recently exhibited a predominantly bearish trend, confined within a horizontal channel depicted in red.

In the most recent trading session, there was a substantial drop in value, leading to ETH's failure to maintain support at the 1700 level.

While the 1700 support remains unbreached, our focus will be on identifying potential short-term bullish reversal setups on lower timeframes. (like a double bottom, trendline break, and so on...)

However, should the 1700 support level be breached conclusively with a daily candle close below it, we would anticipate a continuation of the bearish momentum, possibly driving ETH's price down towards the 1500 mark.

For now, we wait! ⏱

📚 Hope you find this post useful. It's important to always adhere to your trading plan, including entry points, risk management strategies, and trade management techniques.

All Strategies Are Good; If Managed Properly!
~Richard

Disclaimer: The information provided is for educational and informational purposes only and should not be considered as financial advice. It is important to do your own research and make informed decisions before entering any trades. Past performance is not indicative of future results. Always be aware of the potential for losses, and never risk more than you can afford to lose.