Support, Resistance, or Double Bottom at ~1k
Ethereum has formed a wedge on the daily.
A break below the wedge has two possibilities:
1.) 1x measured move down that tests a daily support level that begins around 670 usd
2.) A double bottom at the halfway point near 1k that either succeeds and moves to bull options below, or fails and moves down to support at option 1.
A break above the wedge similarly has two options:
1.) 1x measured move into the center of daily resistance, not quite reaching ATH
2.) A move into weekly resistance at the halfway point that either succeeds and moves to option 1 or fails and moves to one of the bear options.
A break below the wedge has two possibilities:
1.) 1x measured move down that tests a daily support level that begins around 670 usd
2.) A double bottom at the halfway point near 1k that either succeeds and moves to bull options below, or fails and moves down to support at option 1.
A break above the wedge similarly has two options:
1.) 1x measured move into the center of daily resistance, not quite reaching ATH
2.) A move into weekly resistance at the halfway point that either succeeds and moves to option 1 or fails and moves to one of the bear options.
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