ETH - Potential Bearish Reversal!

13. Juli 2021

Hello everyone, if you like the idea, do not forget to support with a like and follow.

ETH is sitting around strong daily support in green so we will be looking for buy setups.

Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?

on H4: ETH is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

Meanwhile, until the buy is activated, ETH would be overall bearish can still trade lower and even break the green support downward.

In this case, if we have a big bearish daily candle closing below the green support, then the next support/rejection would be the 1700.0

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich