On my previous post I explained why I think the 200$ was the bottom on the etherium/USDT(and the bottom of the whole cryptocurrency crash).
Just a few moments ago a double bottom occurred and got confirmed with a uptrendline confirmation.
He broke out of the purple downtrend and now uses that line as a support line which got confirmed together with the stable bottom on the 200$ level.
This was the second try for the bearmarket to break below the 200$ support level.
The support level was stable and did built a double bottom with much trading volume. This is a strong reversal sign.
If you want a more safe signal then take the neck line which is at 258$ on poloniex chart.
If he goes above the line and closes the 1h candlestick above it. Then that is a even stronger confirmation for the reversal.
This is all my personal analysis and my opinion of the market. I am interested in your opinions and your analysis about the current market situation. Leave a comment and a upvote if you like or if you have any suggestions let me know.
have a nice week guys