A truly tremendous descent today, you feel lost and taken by the desire to liquidate everything.

You start studying the charts looking for comfort, a buy signal, thinking that perhaps we have hit rock bottom. You feel demoralized and a victim of manipulation.

Then I open the ETH daily chart for the umpteenth time and see this:

Cabbage! Maybe we hit rock bottom! So I open an hourly chart and see:

A beautiful hammer that has formed in an area of great support and whose prices have exceeded its maximum (area2600).

For me this is a good sign to buy and I regain confidence.

Graphics: tradingview.com

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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.

THE OPINIONS EXPRESSED BY THE AUTHOR ARE PERSONAL ONLY AND FOR INFORMATION PURPOSES AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.

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