Jack's Trading Room | ETHUSD Short-Term Double Bottom Pattern
Currently, we are looking at the 15-minute candlestick chart of ETHUSD, where Ethereum is showing a potential double bottom pattern on the short-term chart.
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The price is currently around the neckline resistance at 2253.75. Once the price closes above the neckline resistance on the 15-minute chart, a short-term long position can be initiated with the previous low set as the stop-loss level.
The profit-taking target can be set at 2371.25, which is the Fibonacci level at 200.
In recent days, the digital currency market has experienced significant volatility. It is recommended that traders strictly follow risk management practices and avoid high leverage and high contract volumes to prevent additional losses due to volatile market conditions. This article reflects personal opinions, and readers should exercise caution when considering it. Cryptocurrency trading may pose risks to your capital.
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