ETHUSD, D1 - double bottom with ABC

The price of ETH has created a potential double bottom pattern with potential strong support at 84,50. Also, the potential ABC corrective pattern may have appeared on the chart. The first potential resistance could be set by the line drawn through the tops. If it is broken the next potential barrier for the bulls could be located at the top of wave B at 284,92 or at 363,51 USD.

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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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