ETH – The Road Not TakenHE !ETH is overall bullish from a long-term perspective trading inside the brown rising channel

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ETH has been stuck around the lower brown trendline for a couple of weeks now, in an accumulation phase in the shape of a symmetrical triangle marked in orange.


For the bulls to take over, we need a break above the last high in gray and upper orange trendline.

Knowing that ETH can still form a new swing high before breaking the structure. (projection in purple)

Meanwhile, until the buy is activated, ETH would be trading inside the symmetrical triangle and can still break it downward for another bearish impulse movement.


That's why the post title is inspired by the poem: "The Road Not Taken" by the famous Robert Frost!


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


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

Good luck!

All Strategies Are Good; If Managed Properly!

~Rich

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Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
- Founder of RichTL, which is the first and only indicator of its kind to help traders make Objective Technical Analysis.
- TOP author on TradingView platform
- NewsCrypto.io Ambassador and Educator
- Featured on Influencive as one of the TOP 10 Forex Mentors in 2021
- Featured on many websites like Yahoo!, Market Watch, and Digital Journal