ETH - Trend-Following Setup ❗️

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

After breaking above 1700, ETH has been stuck inside a range in the shape of a rising channel in orange.

Moreover, the 1700 is currently acting as a strong support zone.

🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower orange trendline. (acting as non-horizontal support)

As per my trading style:
As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

We will remain bullish, UNLESS ETH breaks below 1700, in this case a deeper correction till around 1550 would be expected.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich