ETHUSDT, BULLISH OR BEARISH?
After making highs around the 2000USD region we began to observe what looks like a pullback. This pullback however can play out in two ways.
First, price recently tested the 1800USD region of minor support. This can hold price and a rally to create higher highs can begin or it can rally to the major resistance at 1950USD and reject to the downside to form a head and shoulder.
Second, following the head and shoulder setup, we can see a move lower toward the $1700 major support before we bounce higher.
Overall, so long as the $1700 level is not broken, it will be wise to focus on long trades as it offers the best RRR from a swing trading prespective.
NOTE: NOT FINANCIAL ADVICE.
First, price recently tested the 1800USD region of minor support. This can hold price and a rally to create higher highs can begin or it can rally to the major resistance at 1950USD and reject to the downside to form a head and shoulder.
Second, following the head and shoulder setup, we can see a move lower toward the $1700 major support before we bounce higher.
Overall, so long as the $1700 level is not broken, it will be wise to focus on long trades as it offers the best RRR from a swing trading prespective.
NOTE: NOT FINANCIAL ADVICE.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.