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ADAM-EVE

BTCUSD - The forbidden Fruit? Adam & Eve reversal possible.A lowly long term bull in a forest of aggressive short term bears. Levels, confluence, pattern rec. thepatternsite.com Adam & Eve Double Bottoms Overview Adam is a term that describes how the bottom looks, in this case, a narrow, pointed bottom, perhaps with a one-day downward spike. Eve bottoms are more rounded looking and wider. If they have spikes, they tend to be more numerous and shorter. Many times the difference between Adam and Eve is the width of each over their entire height. Adam bottoms tend to remain narrow but Eve bottoms widen over their height. When trying to decide which is which, ask yourself if the two bottoms appear different or similar. With Adam & Eve, the two should look different (the first narrow and the second wide). The Adam & Eve double bottom is a chart pattern that performs best in a bear market. In a bull market, however, it's just an average performer. Before trading, wait for price to close above the peak between the two bottoms, confirming the Adam & Eve double bottom as a valid chart pattern. When compared to the other Eve and Adam combinations of double bottoms, the Adam & Eve double bottom places second only to Eve & Eve in the average rise category. The throwback rate occurs just over half the time (59%) so recognize that price may double back and continue lower than you would like. -- Note: I do wonder how much influence analysts have on the market as a whole, could it be that the utter bearishness of the TradingView top authors is holding the market back?
BITMEX:BTCUSD.P
by jackdavidpiney
Bullish breakout confirmed; following eve bottom preciselyNot unexpected the great bullish price action I woke up to this morning but still a great feeling to finally see the breakout from the falling wedge I had been expecting finally triggered. What's more than that, if you look at the bpottom wick of the current day candle you will see it bounced upward off of the eve bottom that I have laid out precisely, further giving credibility to the eve bottom I have drawn out. Hopefully more traders(bears specifically) will tqke my hypothesis more seriously now that we are continuing to see it play out to a t. I hope all who have been following my ideas thus far have been accumulating some of the top alt coins at a very cheap discount leading up to this, I remain truly optimistic that we will be experience a bullish 2nd quarter and possibly even a new all time high during this second quarter....For now though we are just trying to take it one step at a time and this first step of a higher high after achieving all these multiple higher lows is monmental. Next we want to see one more consecutive higher high to confirm the bulls have taken back control...after that we will be looking to break the neckline of the double bottom by reaching 10400-10500 by the 4th or 5th of May and hopefully by then we have had enough upward momentum to flip the death cross back over to a golden cross to give us another great bullish boost as well. All those conditions combined I think could certainly eventually lead us to a new ath...but don't be araid to take some profits along the way. Best of luck and thanks for reading!
BITFINEX:BTCUSDLong
by DrDovetail
BTC may be forming an Adam and Eve, but don't trust it yet!First let me lead this by saying that I am still a bitcoin bear. The trend is your friend, and the trend is down . Until we have confirmation of reversal, traders should be extremely wary of taking on long positions, especially with such low volume on most major exchanges. With that out of the way, it's also important to begin paying attention to possible reversal signals. Looking at BTC we can see a fairly obvious "Adam and Eve" formation showing on the charts. For those unfamiliar, an Adam and Eve is a type of double-bottom where the second bottom is much flatter than the first. This formation generally means both sellers and buyers are much weaker than at the previous bottom, and a small amount of good news / positive sentiment can push prices up. For confirmation we need to see a break of 12K. Of course, this is quite delayed, and as traders we want to enter much earlier. The earliest possible confirmation would be a break of the long-term descending trendline. You may note that I haven't drawn this "perfectly" - trendlines should be treated more like trend areas. My trend "area" is drawn to be parallel with the lower supporting trend "area." Either way you draw your lines, this would occur around the $7,800-$8,000 price range, depending on the length of time in which these moves occur. The next major price level would be $9,200, a level we have historically struggled with. While $10K may be a significant psychological price level, I do not find it very significant from a chart perspective. I believe if we break $9,200 and hold above it, $10,000 would fall shortly thereafter. lastly we have the major $12K level would would confirm the formation and bull market. To reiterate, in no way shape or form am I expecting this A&E formation to play out. However, it is important as a trader to recognize its possibility and be prepared to respond accordingly. If price begins rising out of the "eve" bullishly we must reassess our bearish point-of-view. A trader who cannot change perspectives or recognize trend reversals is dead in the water. Finally, you may have noticed I switched to bars over candles. I've recently begun preferring them for cryptocurrencies over candles due to the fact that the market never closes and bars remove a great deal of "chatter." I still prefer candles for stocks, due to gaps and the nature of stock market trading. Either way, price-action is price-action - use what you like!
COINBASE:BTCUSD
by calcie
Adam and Eve Bottoms. History Repeating (long term)Stull hypothetical but with each 1 day candle that passes the eve bottom continues to fill out within the parameters. Here is a zoomed out view of what I think is a fractal repetition from the smaller one that formed back around september 15th of last year...the bullish volume spikes you'll notice from each one are very similar with the one this february being only slightly higher than the one last september...this was the biggest volume spike of the year and once the adam and eve was verified it onyl took about 12 fdays after to reach its projected target height. We can see where it led to afterward...so just imagine the same thing but now on a scale 5-10 times as big. That's the potential I still see unless price action decides to break the higher low pattern its been in and crashes under this...but for now it is sill very much in play
BITFINEX:BTCUSDLong
by DrDovetail
8
Possible Adam & Eve Reversal Forming Long-Term [BTCUSD]Really can't say much here on why this formation may take place. Mostly just a hunch, based on my perception of price action as of right now. The downtrend seems to level out as you would see in the Adam & Eve Double Bottom reversal. RSI is also gaining steam on the 1-day chart. If we drop below previous low of 6000, the formation is invalidated. If confirmed by breaking through 11600 area, upside potential would be great. Let me know your thoughts.
BITFINEX:BTCUSD
by NYFinancials
My Thoughts On a Potential Adam and Eve Double Bottom (longterm)A fellow tradingview publisher by the handle of @BTCookieMonster (follow him and give his charts views and likes please) created a very nice chart hypothesizing an Adam and Eve Double Bottom which would result in a great uptrend. I totally agree with him and find that outcome highly probable but I think his adam and eve is really just Eve.....and That Adam is the Low from February....here is his chart which focuses on the 4hr timeframe: which is very well laid out. Above you can see on my 1 day chart however that this pattern can easily be applied to more zoomed out starting with the Adam bottom from February 6th and what we are experiencing now and have been since the Adam completed is the Eve Bottom. Should this trend play out on this larger timeframe as I am hypothesizing the upside of it will be much bigger and could take us all the way to 14700 and back into the bull market for Q2. For this Adam and Eve to be Valid though we would have to break somewhere between 10500-11000 depending how many days from now it takes to reach that...I'm thinking we could see something like this as soon as the middle of this month...of course we could always dip lower but probability makes this outcome fairly possible. Of course whichever choice you take, I always usually err on the side of probability while at the same time I stay completely prepared for the exact opposite outcome..You choose your own path however for this is not financial advice. Good luck and thanks for reading!
COINBASE:BTCUSDLong
by DrDovetail