BTC - 28K See You Soon! ETH Analysis inside

31 Jul 2022

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

BTC has been overall bullish from a medium-term perspective for the past two weeks.

BTC is trading inside the rising channel in red and yesterday the bulls managed to take out the previous high signaling a trend continuation.

So yes, as per my last couple posts here, I am still expecting a movement till the 28k-30k resistance / supply zone.

As per my trading style, I will be waiting for BTC to retest the intersection of the gray zone and lower red trendline to look for buy setups.

Knowing that we can go up to 28k straight from here, that we can see better on ETH


on ETH, we are bullish trading inside the rising red channel, and it is currently stuck inside a consolidation in the shape of a pennant.

For the bulls to take over, we need a break above the pennant and last minor high in blue.

In parallel, if the bears kick in and break the pennant downward, then a movement till the lower red trendline would be expected, where we will be looking for trend-following buy setups.

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