Ethereum: Search for Bullish Setups between 500$ and 400$
The price bounced from 620$ resistance and we could see a correction movement. What's next?
We have to search for possible reversal setups at support and use them for buying. We have the bullish market in the higher timeframes and we use the correction movement for opening long positions in the direction of the main trend.
If we look at the 4H chart, we will see the key zones for buying. The 1st support is 500$. If the price breaks this zone, the 2nd support will be at SMA200. The breakout below SMA 200 will push the price toward the daily uptrend line and 400$ support, where we will be able to get a reversal setup.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We have to search for possible reversal setups at support and use them for buying. We have the bullish market in the higher timeframes and we use the correction movement for opening long positions in the direction of the main trend.
If we look at the 4H chart, we will see the key zones for buying. The 1st support is 500$. If the price breaks this zone, the 2nd support will be at SMA200. The breakout below SMA 200 will push the price toward the daily uptrend line and 400$ support, where we will be able to get a reversal setup.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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