Double-Bottom Reversal in $AE Aeternity

4 בינו׳ 2020

AE Aeternity is quietly bouncing off of a double-bottom on the 1- and 3-day candlestick closes. The prudent thing to do is wait for the daily candle to close and await more confirmation. However since many alts in BTC pairings are painting possible bottom reversal patterns this seems like a valid risk to take now. It also aligns with the apex of a falling wedge. I'd like to see more volume as confirmation of a breakout if this is the real deal.

I've started a long entry now but will watch this as double-bottoms usually take on a more rounded formation than the sharper 1st bottom.

Target is 2700 sats: the previous peak in-between the 100-day troughs.