ETH - Prepare for Takeoff โœˆ๏ธ OR Brace for Impact ๐Ÿ›ฉ

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

on Daily: Left Chart
ETH has been overall bearish trading inside the red falling broadening wedge pattern. However, it is currently approaching the lower bound / red trendline.

Moreover, the 1500.0 is a strong support, demand and round number.

๐Ÿน So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the 1500.0 and lower red trendline.

on H1: Right Chart
ETH is also bearish from a short-term perspective trading inside the falling blue channel.

๐Ÿ“ˆFor the bulls to take over, we need a break above the last high in blue.

Meanwhile, ETH would remain bearish and can still test the 1500.0 round number.

๐Ÿ“‰If the 1500.0 is broken downward from Daily timeframe, expect long-term bearish continuation!

๐Ÿ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
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