ETH - Market Structure 101 📕

Hello TradingView Family / Fellow Traders,

From a long-term perspective, ETH is currently rejecting the upper bound of the brown channel.

Weekly Chart:
📈 For the bulls to take over again from a long-term perspective, a weekly candle close above 2600 is essential for the bulls.

If achieved, a movement toward the next resistance at approximately 3000 could be anticipated.

H4 Chart:
📉 Conversely, the bulls will remain in control from a medium-term perspective as long as the local support in red at 2100 holds.

If the 2100 is broken downward, a bearish correction till the 1750.0 mark would be expected.

🏹 Meanwhile, for the bulls to take over again short-term, we need a break above the last minor high from 4h at 2285.

Which scenario do you think is more likely to happen first? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr