ETH Ethereum Double Bottom Towards the 120?
Updated
ETH has made a second big rally today while breaking that bull flag and that red resistance. Now Bitcoin' broke the 3600 as well but so far the rally is a bit disappointing, so there is a chance for a bigger correction now. But if ETH' is able to make another bull flag at this level, we could start to see another big move up this week. If we reach the second resistance level around 120 within 2 days, than it's maybe safe to say that we will see much higher prices coming weeks. Because than we could probably make a big inverse H&S as well. But before getting too excited, these patterns need a lot of conviction!!
If this bullish scenario happens, we would even see a big V shape low and could really mean something for the long term as well. The speed of the rally and the volume is extremely important. The target of the bull flag we just broke is around 110. If we are able to reach that, it's okay to see a decent correction but nothing big though. For now it needs to stay above that red zone.
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Previous analysis:
If this bullish scenario happens, we would even see a big V shape low and could really mean something for the long term as well. The speed of the rally and the volume is extremely important. The target of the bull flag we just broke is around 110. If we are able to reach that, it's okay to see a decent correction but nothing big though. For now it needs to stay above that red zone.
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Previous analysis:
Note
This small bull flag should holdNote
Target reached, now looks like a correction has started. If 104 breaks, we could test 100ish. Don't want to see it below that levelNote
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