ETHUSDT - LONG SETUP
ETH we can clearly see the 4hr bearish trend, however market is oversold now and i do expect to see a bounce. What we can also see here on the 4hr timeframe the market is currently testing this confluence of resistance we have this previous support as new resistance and this bearish trendline. IF we see a new 4hr higher high so a 4hr close above this zone we will be looking to execute our long on the retest of this zone, in which we will then have formed this nice inverted head and shoulders formation. We will only take this trade if all entry rules are met.
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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.