ETH - Bottom is in?
Updated
So in my previous analysis on ETH I said that I won't rule out another drop to 2700-2800$ coming days BUT there is also a chance, that this small double-bottom pattern is going to play out, which would most likely invalidate my idea of seeing a huge bear trap.
As I have shown ETH needs to break the resistance at 3280$ and hold there for 2-3 days before pushing through the neckline at 3400$. It could happen, but given it's almost weekend the markets usually lack volume and momentum, so not sure about it.
Just want to give you an idea how markets behave and what needs to happen, but I surely won't be trading this. However, if we take out 3.4k next week this would most likely trigger a push towards ~3700.
If it stays below the resistance zone coming days it will likely fail and the support around 3083 will give in eventually.
Stays safe!
As I have shown ETH needs to break the resistance at 3280$ and hold there for 2-3 days before pushing through the neckline at 3400$. It could happen, but given it's almost weekend the markets usually lack volume and momentum, so not sure about it.
Just want to give you an idea how markets behave and what needs to happen, but I surely won't be trading this. However, if we take out 3.4k next week this would most likely trigger a push towards ~3700.
If it stays below the resistance zone coming days it will likely fail and the support around 3083 will give in eventually.
Stays safe!
Note
Looks like it's already failing.Note
And it failed... no surprise tbh, would've been too easy :)
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