Based on yesterday's analysis, I decide to buy BTC.
At the moment, we have broken the Head and Shoulder neckline and we are balancing on the discussed trend line - which will be the key to further increases
Similarly to BTC - ETHUSD has a chance to increase thanks to the double bottom of the formation.
Additionally, we currently have a chance for an H&S reverse pattern which could lead to a $ 2,427 target
Two important zones on BTC
The first is the trend line of the downtrend channel - see how it works nicely.
The second most important - double bottom neckline - which can provide to $ 55,000 or higher targets.
After a big drop, we are getting closer to strong support.
First - OB (Over balance) was tested yesterday. (Pink dot line)
This shows the strength of the bears.
If we break this support, around 1.2000 there is another - green rectangle.
Noteworthy is the intersection of the 25/50 day EMA