Looking like the bounce from the $450 low may be forming a small head & shoulders pattern. If so, we would be making a move up to $550-$560 then followed by a decrease to the lower support line again. This theory is further supported by the trendline in red established from the beginning of March & touched multiple times throughout this month. Because of this theory, I bought in below $530 anticipating an increase.
Added bonus is that ETH is bullish long-term. So, if this assumption is wrong, still bought in at a safe level for long-term gain.
Just a theory from a guy that's learning as he goes. I decided to post it since it doesn't seem anyone is highlighting this shape. Could be that no one is talking about it because it's wrong. Either way, this isn't trade advice, just trying to contribute. #FirstPublishedIdea
Added bonus is that ETH is bullish long-term. So, if this assumption is wrong, still bought in at a safe level for long-term gain.
Just a theory from a guy that's learning as he goes. I decided to post it since it doesn't seem anyone is highlighting this shape. Could be that no one is talking about it because it's wrong. Either way, this isn't trade advice, just trying to contribute. #FirstPublishedIdea