tradingmotives

Bulls monitor blue zone support

Long
COINBASE:ETHUSD   Ethereum / U.S. Dollar
Nice validation of the blue Median Line . The lower end of the blue zone also coincides with a 50% retracement of the previous swing (P2 to P3)
Comment: A break of support < 611 means deeper correction is unfolding & blue zone analysis will be invalidated
Trade active: Support in the blue zone held. Now monitor support along the lower parallel (or the sliding parallel just below) for new highs.
Trade closed: stop reached: Stopped out at 817. Deeper correction unfolding now.

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