Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 After breaking below the $3000 round number, ETH dipped by over 30%.
Currently, ETH is hovering around a strong rejection zone as it is the intersection of the $2000 round number and support, and the lower red trendline.
🏹 The highlighted red circle is a strong rejecting area to expect the bulls to kick in from.
📚 As per my trading style:
As #ETH approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Which scenario do you think is more likely to happen and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich