There is a potential double bottom IN ETHUSD 4h but!?!?
In ETHUSD 4h
It broke out short term downtrend and there is a potential double bottom pattern.
The double top and bottom have the same neckline and this area is the strong resistance .
There are 2 type to break out
1.Break out after a bumpy ride
2.Break out with high volume
There is bumpy in 15M and we can look for breaking out in short term .
It still have downtrend from higher high and we need to take profit at the resistance.
Resistance area :Fib 1.272~1.382(3321.95~3380.75)
It broke out short term downtrend and there is a potential double bottom pattern.
The double top and bottom have the same neckline and this area is the strong resistance .
There are 2 type to break out
1.Break out after a bumpy ride
2.Break out with high volume
There is bumpy in 15M and we can look for breaking out in short term .
It still have downtrend from higher high and we need to take profit at the resistance.
Resistance area :Fib 1.272~1.382(3321.95~3380.75)
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