This chart is for *Ethereum (ETH/USD) on the 4-hour timeframe, and it showcases a combination of **price action, **trendline analysis, and **support/resistance concepts*. Here's a breakdown of the patterns and tools used:
---
### *Tools & Patterns Used:*
1. *Bearish Trendline:*
- A *downward sloping red trendline* indicating a bearish market structure.
- Multiple touches from price confirming the trendline’s significance.
2. *Double Bottom / Triple Bottom Formation:*
- The *green arrows* highlight multiple rejections from a horizontal support level around $1,750–$1,800.
- This suggests *strong buying interest* and a potential *reversal pattern*.
3. *SSL (Sell Side Liquidity):*
- The horizontal line marked *SSL* indicates a *liquidity zone* where stop-losses of buyers likely reside.
- Price may sweep this level before a reversal (liquidity grab concept).
4. *Projection Zones (Blue Boxes & Arrows):*
- The *blue boxes* project potential *price movement size*, likely based on measured moves from previous drops.
- These are used to estimate *target zones* after a breakout.
5. *Breakout Strategy:*
- The forecast includes a potential *break above the bearish trendline, followed by a **pullback and bullish rally*.
- This is a classic *breakout-retest pattern*.
---
### *Overall Pattern:*
- The chart hints at a *reversal setup* after a *prolonged downtrend, possibly forming a **double or triple bottom* with bullish breakout potential.
- The *confluence* of support, trendline break, and liquidity concepts point to a *smart money trading approach*.
Let me know if you'd like help analyzing the entry/exit zones or risk management ideas for this setup.
---
### *Tools & Patterns Used:*
1. *Bearish Trendline:*
- A *downward sloping red trendline* indicating a bearish market structure.
- Multiple touches from price confirming the trendline’s significance.
2. *Double Bottom / Triple Bottom Formation:*
- The *green arrows* highlight multiple rejections from a horizontal support level around $1,750–$1,800.
- This suggests *strong buying interest* and a potential *reversal pattern*.
3. *SSL (Sell Side Liquidity):*
- The horizontal line marked *SSL* indicates a *liquidity zone* where stop-losses of buyers likely reside.
- Price may sweep this level before a reversal (liquidity grab concept).
4. *Projection Zones (Blue Boxes & Arrows):*
- The *blue boxes* project potential *price movement size*, likely based on measured moves from previous drops.
- These are used to estimate *target zones* after a breakout.
5. *Breakout Strategy:*
- The forecast includes a potential *break above the bearish trendline, followed by a **pullback and bullish rally*.
- This is a classic *breakout-retest pattern*.
---
### *Overall Pattern:*
- The chart hints at a *reversal setup* after a *prolonged downtrend, possibly forming a **double or triple bottom* with bullish breakout potential.
- The *confluence* of support, trendline break, and liquidity concepts point to a *smart money trading approach*.
Let me know if you'd like help analyzing the entry/exit zones or risk management ideas for this setup.
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Just for One More Smile © free
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.