A brief analysis of the current overall weekly bottom trend of ETH: →♥
First, let me clarify: I used the 123 rule, then evolved it into a W-bottom pattern, and will further verify whether the complete W pattern holds up!
For Ethereum, starting from our major cycle bottom-picking strategy at the 2644-2764 monthly range, the price dipped as low as 2620 before rebounding past 3000. After that, it set up for a second test (this is when we applied the 123 rule, as we discussed in our live sessions). For the second test, we targeted 2707-2720 for another bottom pick; the lowest point was around 2717
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