A highly likely scenario for ETH
the analysis is based on price action, volume and classic technical method.
I assume the price is going to retest one of the Fibonacci levels, remarked by a green rectangular, then break the Green trend line and the triangle pattern.
On the other hand, If you determine the pattern as A double bottom, it is also absolutely true because its scale is less than 30% of the previous wave. to approve this claim, we should not expect prolonged time correction.
As the oil price decreases the possibility of a deeper correction in the bearish market can be anticipated.
I assume the price is going to retest one of the Fibonacci levels, remarked by a green rectangular, then break the Green trend line and the triangle pattern.
On the other hand, If you determine the pattern as A double bottom, it is also absolutely true because its scale is less than 30% of the previous wave. to approve this claim, we should not expect prolonged time correction.
As the oil price decreases the possibility of a deeper correction in the bearish market can be anticipated.
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