omgimkaran

Double Bottom on the Ethereum 1hr chart

Short
BINANCE:ETHUSDT   Ethereum / TetherUS
Short for the small time frame, 1hr, Double bottom, exit near the neckline if you want to be conservative otherwise you can hold a little longer.
Measuring the top to the neckline and then measuring the target accordingly confluence with another rising wedge pattern resistance line which
Ethereum
broke earlier and now can be considered as support. The double top also coincides with the Bollinger Bands in the 1H time frames which further support the short position. Ethereum can show some support at the moving average in the middle but is most likely to disobey it and keep moving downward and can find support at the mentioned level. If you can watch the chart continuously look at the volume indicator and exit at a major level of support/resistance if you see the exhaustion in the volume.

It is for the shorter term and afterward, we can expect Ethereum to reach 5K soon!

Disclaimer: This is not financial advice in any shape or form. BITSTAMP:ETHUSD
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