- Price Breaking below the Lower Trendline can lead to :
- Price pumping up can retest the Upper Trendline but before that it should be able to break the 1246 region.
- Try to connect the ideas and get a clearer picture of the whole set up.
- This can play either way so keep an eye on the support and resistance as well.
Bitcoin is in full bull mode, and that means ETH will follow. So, a couple of setups on the chart if to suppose we see a bullish retest.
Information is just for educational purposes, never financial advice. Always do your own research.
Hit the "LIKE" button and follow to support, thanks!
- Set a short position in ETHUSD at 1246-1256.
- Stop loss at 1310
- Tp 1 at 1050.50 and TP 2 at 956.60
- Has a strong resistance at 1246 and the price is high likely to get rejected there.
- Stop loss should be in play.
- Check out the chart for your profits and Risk / Reward Ratio
^w^ I'm a beginner doing paper trading. Be welcome to refute my hypothesis and give suggestions
A Golden Cross will make a small bull trend if ETH continues over the existing support trend seen on the 10 min time frame.
This idea won't happen if it breaks the current resistance and starts a new trend.