Now, this could be an uptrend continuation setup, or simply a detour before more downside.
Ideally, you could have entered longs where I covered my shorts, (which I didn't get to do).
Currently, the lower timeframes might allow an entry on the long side, if offered with a safe setup I'll update the chart.
For the time being, monitor price action in the coming days, it's logical to see a move up to 0.03175 at least, but could even go higher.
Good luck, trade responsibly, measure your risk as % of account in any trade you take, to the level where you invalidate your analysis (if you don't have a clear invalidation, you really shouldn't be in the position to begin with).
Price formed a W bottom in the ETHXBT chart, ETHEUR remains net bullish, and with big upside left.
The new lows and the sharp down day might be a bear trap, people must be thinking this is a head and shoulders top (I think it's not)
Yet, the strong buying zone we observed on March 18th is holding.
Let's see how it evolves from here. It might give a good long entry again soon.
It appears to be consolidating still, so keep risk small.