$ETH /USDT: Bullish Reversal Opportunity
Double Bottom Pattern Signals Uptrend Potential:
Ethereum has formed a textbook double bottom pattern near the $1,780 support zone on the 4H chart, indicating a potential bullish reversal. The price is currently trading around $1,815, showing signs of building momentum for a rally towards the $1,900+ level.
Trade Setup (Long):
- Entry Zone: $1,790 - $1,830
- Take Profit (TP): $1,890 / $1,920
- Stop Loss (SL): $1,740
Pattern Analysis:
The double bottom pattern is reinforced by multiple bullish rejections and a clear neckline around the $1,815 region. A breakout above this level on high volume could spark a strong upside move.
Market Outlook:
As long as Ethereum holds above the $1,780 support, the bullish scenario remains valid. A healthy retest towards $1,780 could provide an ideal second entry before a breakout rally. However, rejection from this level again would invalidate the structure.
Trading Strategy:
With the double bottom pattern confirmed, bulls may be ready to drive the price higher. Consider entering a long position within the entry zone and setting stop-loss and take-profit levels accordingly.
