ETH - Trio Retest ❗️

10 giu 2023

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

ETH has been overall bullish from a long-term perspective trading inside the rising broadening wedge in blue.

After rejecting the 2000 resistance, ETH has been in a bearish correction trading inside the falling red channel.

🏹 Here is why the 1700 - 1750 zone marked by purple circle is a strong support:
1- Round number 1700
2- Classic Resistance Zone Turned Support
3- Lower blue trendline acting as a non-horizontal support
4- Lower red trendline acting as oversold zone
5- Demand zone

📈 As per my trading style:
As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich