ETH/USDT BULLISH PATTERN! READY TO GO UPSIDE!!
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Welcome to this ETH/USDT Update.
ETH/USDT is forming a bullish Adam & Eve double bottom pattern, suggesting a potential trend reversal towards higher prices.
Analysis:
Adam's Cup: We see a clear downward movement followed by a rounded bottom reversal, forming the left cup of the Adam & Eve pattern.
Eve's Cup: The price is completed with a similar rounded bottom, potentially forming the right cup (Eve's cup) of the pattern.
Neckline: A trendline can be drawn connecting the lows of both cups, forming the neckline. A breakout above this neckline is already done and it is a bullish signal.
Indicators:
Moving Average: The price is also breaking above the 100D moving average.
Target:
The measured move target for the Adam & Eve pattern would be the height of the first cup (Adam's cup) added to the breakout point above the neckline.
Stop Loss:
A stop loss can be placed below the neckline for risk management.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this ETH/USDT Update.
ETH/USDT is forming a bullish Adam & Eve double bottom pattern, suggesting a potential trend reversal towards higher prices.
Analysis:
Adam's Cup: We see a clear downward movement followed by a rounded bottom reversal, forming the left cup of the Adam & Eve pattern.
Eve's Cup: The price is completed with a similar rounded bottom, potentially forming the right cup (Eve's cup) of the pattern.
Neckline: A trendline can be drawn connecting the lows of both cups, forming the neckline. A breakout above this neckline is already done and it is a bullish signal.
Indicators:
Moving Average: The price is also breaking above the 100D moving average.
Target:
The measured move target for the Adam & Eve pattern would be the height of the first cup (Adam's cup) added to the breakout point above the neckline.
Stop Loss:
A stop loss can be placed below the neckline for risk management.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
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