ETH: Double bottom/falling wedge ?

Updated

I'm not very trusting of the markets at all currently, and I feel few people are. Nevertheless, ETH is showing bullish divergence (red arrows), and currently in a falling wedge that converges at the rising trend-line that used to carry ETH before the late 2017 madness. Additionally, this might be a double bottom formation. This could prove to be a the solid ground underneath ETH's feet that will bring some stability to this coin again. Only time will tell of course, but I'm going to throw this idea out there just to see how this pans out.

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Still too early to say we're seeing a reverse happening, but there are a few indicators that suggest it. The amount of volume catching the falling market yesterday being one of them. And the double bottom overshot a little perhaps, but with some margin of error it still applies, as does the supporting upward trend-line holding.

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ETH is currently using the resistance of the wedge line to form a flag. If it breaks from it, it will be free to move towards the downward resistance at about 600

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