Using the logarithmic chart, I realized that all the corrections on ETH have a common pattern: the double bottom before starting a new bullish movement. That's why I want to observe a bearish movement towards the support zone at 1800.00
If that happens, I will assume that the price has reached the main target of the bearish movement, and from there, I can start thinking about bullish opportunities. In the meantime, I will avoid developing setups.
The setup I will be looking for should happen on the following sequence:
*The price reached the support level at 1800.
*The price breaks the descending trendline.
*The price makes a consolidation.
If all those things happen, I will trade on a new local high as a long-term position. But until I see that, many things should happen, that's why I keep waiting.
Thanks for reading; feel free to share your view in the comments.
If that happens, I will assume that the price has reached the main target of the bearish movement, and from there, I can start thinking about bullish opportunities. In the meantime, I will avoid developing setups.
The setup I will be looking for should happen on the following sequence:
*The price reached the support level at 1800.
*The price breaks the descending trendline.
*The price makes a consolidation.
If all those things happen, I will trade on a new local high as a long-term position. But until I see that, many things should happen, that's why I keep waiting.
Thanks for reading; feel free to share your view in the comments.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.