@SOmar72 on ETHUSD | PriceONN Community
Okay, so I've been looking at ETHUSD a bit more closely after the China CPI news. It seems like there's a potential double bottom forming on the daily chart around the 1920-1940 level. The first bottom was a pretty sharp selloff, but the second one seems to be holding a bit better. RSI is showing some divergence there too, which could signal a reversal.
However, I'm still a bit concerned about the overall market sentiment with the Dow Jones futures plunging. I think it's important to wait for confirmation before jumping in. Maybe a break above 2050 would be a good signal? What are your thoughts on this double bottom formation?
However, I'm still a bit concerned about the overall market sentiment with the Dow Jones futures plunging. I think it's important to wait for confirmation before jumping in. Maybe a break above 2050 would be a good signal? What are your thoughts on this double bottom formation?