Update from previous idea:
okay, this is bad.
switched over to an older chart that has analysis on it from when eth was actually this price, you can see these purple lines have played nice support on the short term and we are starting to see a nice bounce in price.
possibility of a double bottom but I don't like the fact that we made a lower low. lets be hopeful here it is still possible, need to see a break of the neckline that is first thing to do. target is around my red line, aiming to make a higher high. we have also formed a nice double bottom on the RSI which seems to be breaking out, so couple of confluences here, risk to reward on this one is definitely worth it for me!
okay, this is bad.
switched over to an older chart that has analysis on it from when eth was actually this price, you can see these purple lines have played nice support on the short term and we are starting to see a nice bounce in price.
possibility of a double bottom but I don't like the fact that we made a lower low. lets be hopeful here it is still possible, need to see a break of the neckline that is first thing to do. target is around my red line, aiming to make a higher high. we have also formed a nice double bottom on the RSI which seems to be breaking out, so couple of confluences here, risk to reward on this one is definitely worth it for me!
