Ethereum breaks $1,670 and 20 MA on a potential double bottomEthereum / U.S. dollarBITSTAMP:ETHUSDNati-ELETH just reclaimed $1,670 and the 20-day - double bottom setting up? First low printed at 1,510 in mid-June, second at 1,505 late June. That second low briefly took out the first and immediately snapped back - that's a textbook bear trap. The neckline sits at 1,848, and this level is stacked: it's the swing high between the two lows, it's the old February–March support that's now flipped to resistance, and the 50-day MA is parked right there at 1,836. Triple confluence. This is THE level. Here's the part most people get wrong: right now there is no pattern - there's a candidate. Price is chopping around 1,700, and the setup only triggers on a daily close above 1,848 with real volume behind it. Most "double bottoms" you spot in real time are just the market bouncing twice on its way lower. Front-running the confirmation is gambling, not trading. Yesterday's candle ripped almost 6% on slightly above-average volume - promising, but not proof. If we get a confirmed breakout, the measured move is straightforward: ~340 points of pattern height projected from the neckline puts the target zone at 2,190–2,215. Heads up though - the declining 150 EMA sits at 2,142, right at the front door of that zone, so expect a fight there. And keep the bigger picture honest: two and a half weeks between the lows makes this an intermediate reversal, not a trend change. Flip side: a third rejection at 1,835–1,848 followed by a rollover - and especially a break below 1,505 - opens the trapdoor. Everyone who bought the lows gets caught, and it gets ugly fast. Bottom line: above 1,848 on volume, bulls have a setup targeting ~2,200. Below 1,500, the thesis is dead. Until one of those resolves - patience. Not financial advice.