ETH - Quad Bottom Ethereum / TetherUSBINANCE:ETHUSDTVIAQUANTETH has just established the perfect market structure I was predicting a few days ago. Let's review that idea and get into the current expectations: In that last post the chart on the right was Ethereum. What I was specifically watching for was a daily close at my green line around $1,569.69 and a rebound from oversold conditions on the daily RSI. This would give yet another confirmation that at least a local low is in, if not a more significant macro low. What Has Played Out I have switched the current chart to the line chart so you can see exactly how this has come to fruition. The line chart only accounts for candle body closes, making the structure very clear. ETH did close the daily exactly at the green line and over the past couple of days price has seen two additional closes at that same level. This has provided a strong structural base, essentially a quad bottom, for ETH to begin appreciating toward the $2,060 to $2,150 upside target. The RSI Confirmation As I outlined in the previous idea, the RSI was sitting right at oversold conditions and I pointed out to watch for a bounce from the 30 level. This is exactly what happened. The RSI has bounced from daily oversold conditions and trend momentum is now switching back to the upside, giving further confirmation that the low is in. Last time I used a similar strategy to predict the low around $1,850 before ETH rallied to $2,450. View that past idea here: Therefore if that setup helped to identify the low on the 4H timeframe do not discount this setup as it is even more significant being on the daily timeframe. The Weekly Structure to Watch One other important note on the more macro timeframe. ETH needs to see this weekly candle close back around $1,700. If it can accomplish that it will save the weekly structure with the two-week close. This is in relation to this idea: The low has still remained at $1,500 and the structure will remain intact with the two-week candle closing back at or above the orange trendline.