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Double Bottom

GBP/USD - AnalysisAnalyzing the chart provided, it is evident that there was a break of the trendline earlier this month, followed by a reversal of the trend upwards. Currently, there has been a break of the supply zone and the 0.5 Fibonacci level, after which the price is undergoing a retest of the same level. The Moving Average Convergence/Divergence (MACD) divergence before the trendline adds further insight. The expectation is for the price to retest the 0.5 Fibonacci level and move upward to reach 1.3100 before the year 2024.
Long
by ekesam
🚀 ZRX Breakthrough: Double Bottom Pump to $1.1 !In the realm of decentralized exchanges, 0x (ZRX) has been a pioneer, and its recent chart dynamics are capturing attention. After an extended period of forming liquidity above a stubborn downtrend line, ZRX has staged a remarkable comeback. The charts now reveal the successful completion of a substantial double bottom pattern, accompanied by a breakthrough of a key resistance level that has now transformed into a support. Let's delve into this transformative journey. Chart Analysis: ZRX's Persistent Liquidity and Double Bottom Formation For a considerable duration, 0x (ZRX) exhibited a distinctive characteristic—forming liquidity persistently above a downtrend line. This showcased resilience and laid the groundwork for the subsequent chart development. The real turning point, however, came with the emergence of a substantial double bottom pattern, signaling a potential shift in market sentiment. Breakthrough Moment: Overcoming Resistance, Establishing Support The significance of ZRX's recent breakthrough cannot be overstated. The cryptocurrency successfully breached a key resistance level, and what was once a barrier has now evolved into a crucial support zone. This transformation is indicative of a shift in the balance of power, potentially setting the stage for a sustained upward move. Price Target: Setting Sights on $1.10 With the completion of the double bottom pattern and the establishment of a newfound support level, chart analysts are eyeing an initial price target of $1.10. This level is derived from the technical implications of the double bottom pattern and represents a milestone in ZRX's journey to reclaim higher valuations. Trading Strategy: Navigating the ZRX Chart Renaissance Traders and investors closely tracking ZRX's chart dynamics might find strategic opportunities in the wake of this transformative pattern. The establishment of a new support level opens avenues for tactical entry points, with an eye on potential upside movements. Conclusion: ZRX's Resurgence 0x (ZRX) has undergone a significant chart transformation, transitioning from persistent liquidity formation to a triumphant double bottom pattern. As it breaks through resistance, now turned support, the cryptocurrency signals a potential resurgence. 🚀 ZRX Analysis | 💪 Double Bottom Triumph | 🎯 Target: $1.10 ❗See related ideas below❗ What are your thoughts on ZRX's chart evolution? Share your insights, strategies, and price predictions in the comments! As ZRX sets its sights on higher targets, the crypto community anticipates an exciting journey ahead. 🌐🚀💚
Long
by Yaroslav_Krasko
SHIB Santa - Taking 2 Zeros OutShiba Inu ( SHIB ) is coming to town. This Christmas, forget about Santa! Shiba is what we need. Another :poop: coin that will take away two zeros. The patterns are clear. Cryptocurrencies are getting ready for a great '23. For the record, I'm not a fan of SHIB ( SHIBUSD , SHIBUSDT , SHIBBUSD ). I am only holding a few millions, like every other HODLer out there. It has no real purpose, unless it's destiny is to go to Mars. My next Strong Level: 0.000006 . BUT! You asked, I deliver .. an analysis on Shiba Inu. SHIB Technical Analysis: * Elliott Wave A-B-C Pattern * Bullish Divergence * 88.6% Fibonacci Retracement * Ending Diagonal * Double Bottom * Demand Zone That's it. Merry Christmas my fellow HODLer!
SLong
by Lionheart-EWA
5
Nvidia Is Still Bullish💸Hello Traders, My name is Philip and I am just an average stock and indices trader with over 4 years of trading experience💻 ------------------------------------------------------------------- ➡️In today's video, I will analyse Nvidia for you🫡 ------------------------------------------------------------------- ➡️Let me know your opinion about today's analysis in the comments below👇 ➡️I will only enter a trading position if ALL of my trading/entry criterias are met! Keep your long term vision! P.S. Trading is risky and most beginner traders lose money!
NASDAQ:NVDALong
by basictradingtv
1
Falling Wedge Targets Old Lows or HighsBINANCE:HBARBTC weekly bar chart has formed a falling wedge over the last couple of years, starting around September 2021 until now. Bullish Scenario A move to wedge top with a breakout would target the "Google Pump" era highs of March 2020, and with a potential secondary target at or above ATH. To see a bullish breakout, it needs to hold the 150-160 sats area and break 247. Breaking 247 would both confirm a double bottom and a wedge break out. Double bottom targets would send it on its way towards 395 and then 500 sats, which would be crucial to stay above to get the move back towards March 2020 highs, around 854-866. Bearish Scenario A move to wedge bottom would target pre "Google Pump" era lows of January 2020. Should the 150-160 sats area be lost, it'll likely see another touch at wedge bottom near 115-120 sats and Jan 2020 lows. If wedge bottom is lost we will likely revisit ATL and potentially make a new ATL. Short-term Bear, Long-term Bull Scenario If it gets the move back down to wedge bottom and the wedge holds up, those higher targets near ATH or higher become even more likely imho. There's also a possibility for a double bottom at or just below 91 sats if wedge bottom is lost but no stronger move below 91.
by dudebruhwhoa
🚀 NEO - Double Bottom and Order Flow MagicNEO, a standout in the crypto space, is currently charting a course that's turning heads among traders. The formation of a massive double bottom pattern coupled with strategic order flow dynamics is setting the stage for accelerated growth. Let's delve into why NEO is on the radar, gearing up for a potential surge. Chart Analysis: NEO's Double Bottom Brilliance NEO's chart is painting a compelling picture with the emergence of a substantial double bottom pattern. This classic reversal formation consists of two well-defined troughs, often indicating a shift from a bearish to a bullish trend. NEO's chart signals not just a reversal but the potential for a robust upward trajectory. Order Flow Dynamics: NEO's Acceleration Strategy What sets NEO apart is not just the pattern it's forming but how it navigates order flow dynamics. The coin is strategically executing order flow, especially in the form of liquidity sweeps at key lows. These liquidity sweeps, or order flow imbalances, are contributing to NEO's ability to gather momentum swiftly. Trading Strategy: Capitalizing on NEO's Momentum For traders eyeing NEO, understanding the dynamics of the double bottom and order flow becomes paramount. Crafting a strategy that incorporates these elements can provide a tactical advantage. NEO's potential acceleration, driven by both technical patterns and order flow strategies, opens up opportunities for traders to ride the momentum. Conclusion: NEO's Double Bottom Magic NEO's current market dynamics showcase not just the formation of a double bottom but the implementation of a strategic order flow approach. This combination positions NEO as a potential standout performer in the near term. As traders anticipate the next moves, NEO's double bottom magic adds an exciting layer to the crypto landscape. 🌐 NEO Analysis | 📈 Double Bottom Strategy | 💡 Order Flow Dynamics ❗See related ideas below❗ Are you ready to ride the momentum with NEO's double bottom magic? Share your thoughts, strategies, and NEO insights in the comments! 💚🚀💚
Long
by Yaroslav_Krasko
USDCAD PRICE ACTION TRADING DOUBLE BOTTOMHello fellow traders, it's great to connect with you today. Let's dive into the analysis for USD/CAD. Upon reviewing the daily chart of USD/CAD, I've identified a potentially promising pattern - a double bottom formation. This pattern indicates a potential reversal of the downtrend and could lead to a bullish move in the pair. The key points to note are: 1. **Pattern Formation**: USD/CAD has formed a double bottom pattern, which is a bullish reversal pattern. This suggests that the downtrend may be losing momentum and the price could start moving upwards. 2. **Neckline Breakout**: The price is currently trading above the neckline breakout level, which is located around 1.32407. This is a positive sign as it indicates that the breakout has been confirmed and adds strength to the potential bullish scenario. 3. **Stop Placement**: To manage risk, it's wise to set stops just below the midpoint of the double bottom pattern, at approximately 1.32407. This level is crucial because if the price drops to this point, the validity of the double bottom pattern could be questioned. Managing risk is essential in trading, and this stop placement aligns with that principle. Now, regarding potential targets: 1. **First Target (100% AB)**: The first target for the potential upward move is set at 1.36813. This level is derived from the height of the double bottom pattern projected upward from the neckline breakout point. It represents a logical point where the price could encounter resistance based on the pattern. 2. **Second Target (150% AB)**: A more ambitious target is set at 1.38269, which corresponds to 150% of the AB height. This level provides a more extended target for those looking to capture a larger move. However, it's important to remain vigilant and be prepared for potential price reactions along the way. Please remember that trading involves inherent risks, and no analysis can guarantee a specific outcome. Always use proper risk management techniques and be ready to adapt to changing market conditions. If the price reaches your stop level or targets, it's essential to reassess the situation based on the most recent price action and adjust your strategy accordingly. Best of luck with your trading endeavors, and stay disciplined!
Long
by TradeChartPatternsLikeThePros
1
GBPUSD | Perspective for the new week | Follow-upThe pound Sterling experienced a turbulent week as it traded within a narrow range. However, a recovery in broad-market sentiment occurred after the release of a disappointing US Nonfarm Payrolls (NFP) report. This report sparked investor risk appetite, particularly heading into the weekend. The US NFP figures fell short of expectations, revealing the worst headline figure in nearly three years. In October, the US added 150K new jobs, which was below the market forecast of 180K and significantly lower than September's figure of 297K. September's figure was also revised downwards from the initial print of 336K. This underwhelming performance in US job growth has led to a decline in the US Dollar across the broader market. Surprisingly, investors are now favoring risk assets over safe havens despite the negative US labor data. The softening of US data is likely to give the Federal Reserve reason to pause on interest rate decisions. Investors are eagerly looking for signs that the Fed will accelerate the schedule for future rate cuts. As a result of this data, investors are now pricing in a 95% chance that the US central bank will keep interest rates unchanged in December, compared to the previous estimate of 80%. This shift in expectations may lead to increased volatility for the pound Sterling, especially considering that the UK GDP data is scheduled for release next Friday. GBPUSD Technical Analysis: Will the pound find a reversal set-up in the near future as the price breaks the $1.23300 zone? The stakes are high, and we're on the edge of our seats! The spotlight is on high-impact economic events from both the US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities. In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure. We are keeping a close eye on the potential range between $1.23900 and $1.23300 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying ti control, and how the market reacts here will set the course for GBPUSD in the upcoming days. Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading! Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results
by darcsherry
ARBITRUM DOUBLE BOTTOMThis article is pure technical analysis. BINANCE:ARBUSDT is showing a double bottom pattern, indicating a potential bullish movement. But first, pay attention to its past price movement that led to a bullish movement of the coin, ARB had a multi-month trendline breakout. Through this trendline below there were multiple instances of resistance (highlighted in red) from the all-time high. As of this writing, the neckline is still showing its firmness as the price attempts to breakout after hitting it momentarily. This firmness is presented on this chart below through back testing procedure wherein we see instances of it being most as resistance line and support at times. For an intraday perspective, we have to wait for a confirmation for either breakout or breakdown plays. If a breakdown happens, I plotted some trendlines for a possible take profit areas by using basic support and resistance with backtesting. $1.0121 and $1.0619 will be my take profit areas to consider. On the other hand, I plotted a diagonal trendline support, when a massive sell confirms potentially could lead to reversal. Also, consider the MACD indicator in a 4-hour timeframe if MACD crosses along with weakening of the buying pressure that could lead to a reversal. BULL or BEAR: Still BULLISH considering market on a consolidation phase from the massive pump that happened days ago. Let's give the market the time to recover :) I'll give time to update the movement for this coin. Overall, scalp if you want to trade this coin and wait for those scenarios that I mentioned for intraday trade. Follow me on this platform for more market pattern ideas like this. I appreciate the support. Always PLAN your trades and happy trading!
Long
by luigi360swirl
XRPUSD working on a horizontal channel breakout. Not a sure thing that the breakout will confirm here, always a chance it could correct back inside the channel once or possibly even twice before triggering the real breakout, though of course the current move could easiy be the breakout. Either way sooner rather than alter the breakout should be official and once that happens the target will be around 63-64 cents. For now the current bullish impulse looks very convincing. If it can maintain solid support on the top trendline of the channel then we will almost certainly see the recent deathcross be uncrossed and confirmed a fakeout. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
SHR/USDT finally reaches its bottomSharering has just announced some massive news, namely that they have been certified as a digital identity services provider in the UK, which means they are now able to offer their digital identity solution for labd registry purposes in the UK. In other words, they have essentially partnered up with the UK government. cointelegraph.com We are talking about a coin with currently a $3.5m marketcap. This news comes right as the chart has formed a perfect double bottom pattern on the weekly, and is sitting near the all time low. I think buying SHR right now carries relatively low risk for how small of a marketcap the coin has, because it is already completely bottomed out, and once people catch a glimpse of this news and the chart, they will for sure feel some FOMO. The only thing currently preventing this coin from starting the inevitable moonshot, is the fact that this news is going completely under the radar and nobody is talking about it. Once this chart starts to take off, there is some huge potential profit to be made. A 10x could just be the beginning.
Long
by jariii