ETH - Getting Oversold! 🏄🏻‍♂️

٧ مارس ٢٠٢٣

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

After rejecting the 1700 resistance, ETH has been bearish from a medium-term perspective.

🏄🏻‍♂️ ETH is now approaching a strong rejection zone, which I call a "TRIO RETEST"

1- The lower orange trendline of the channel acting as a non-horizontal support (in oarnge)

2- The horizontal support zone 1450 - 1500 (in green)

3- The lower red trendline of the megaphone pattern acting as an over-sold zone (in red)

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

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