Hello TradingView Family / Fellow Traders,
From a long-term perspective, ETH is currently hovering around a robust resistance zone and the upper bound of the brown channel.
Weekly Chart:
📈 To maintain control and establish a long-term bullish perspective, a weekly candle close above 2500.0 is essential for the bulls.
If achieved, a movement toward the next resistance at approximately 3000.0 could be anticipated.
H4 Chart:
📉 Conversely, the bulls will remain in control unless the local support in red at 2100.0 is broken downward.
In this case a bearish correction till the 1750.0 mark would be expected.
Which scenario do you think is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
From a long-term perspective, ETH is currently hovering around a robust resistance zone and the upper bound of the brown channel.
Weekly Chart:
📈 To maintain control and establish a long-term bullish perspective, a weekly candle close above 2500.0 is essential for the bulls.
If achieved, a movement toward the next resistance at approximately 3000.0 could be anticipated.
H4 Chart:
📉 Conversely, the bulls will remain in control unless the local support in red at 2100.0 is broken downward.
In this case a bearish correction till the 1750.0 mark would be expected.
Which scenario do you think is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT