Ethereum broke above 2500 ... WHAT NEXT?
ETH is overall bullish trading inside our red channel so we will be looking for Trend-Following Buy setups as it approaches the lower red trendline.
Moreover, the area 2450-2500 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in blue and lower red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break, and so on...)
Unless ETH breaks below the 2500 zone downward with a big daily candle, then the support would become resistance again.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ETH is overall bullish trading inside our red channel so we will be looking for Trend-Following Buy setups as it approaches the lower red trendline.
Moreover, the area 2450-2500 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in blue and lower red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break, and so on...)
Unless ETH breaks below the 2500 zone downward with a big daily candle, then the support would become resistance again.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade Made Simple
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RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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.