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Double Bottom

Intrigued by BCH HereFinding myself intrigued by Bitcoin Cash. We recently hit bottom a 2nd time and have thus far begun moving up, breaking out of a small falling wedge (on the non-log daily chart, the logarithmic weekly chart is what is pictured above, but it still has the wedge and targets from the daily non-log chart). Why am I intrigued, outside of a potential double bottom? Bitcoin Cash was a fork of the original Bitcoin code, meaning original adopters and/or owners of Bitcoin at the time received an equivalent amount of Bitcoin Cash. Many of them were made wealthy from Bitcoin. It would seem to me, if I were in their position - I would have a vested interest in seeing Bitcoin Cash make a comeback, if even just briefly enough to make some returns on an essentially free investment. On the chart - interim daily falling wedge targets, boith still under $200. For weekly / long-term - get through and hold above the first red resistance area to make it to the next one above it - that happens, the double-bottom comes into play.
COINBASE:BCHUSDLong
by dudebruhwhoa
6
GBPJPY Confirmed Double Bottom +400 PipsAfter identifying a potential triple bottom pattern on GBPJPY, I took a long position following a successful retest of the key support level at 157.00. This trade has entered into profit, with the current price at 161.500. Moving forward, I am watching for a breakout above the neckline, which would signal a new opportunity to enter another long position with a target price of 168.00. Despite negative news for GBP last week in retail sales and interest rate announcements, I believe the post-pandemic deflation process could support a rise in GBP, particularly against currencies like JPY that are facing economic uncertainties. By carefully monitoring price movements and staying attuned to global economic trends, I remain optimistic about the prospects for our trade and the future of GBP. What is your thoughts?
Long
by OfficialKieranTrewick
EURJPY can break above? 🦐The double bottom pattern that formed on the EURJPY Daily chart after the recent low suggests that there was a period of selling pressure that eventually led to a reversal. The impulse to the upside that followed and tested the daily resistance level multiple times shows that buyers are in control and are attempting to break through this level. Currently, the market is in an accumulation phase between the resistance and the 50% Fibonacci level. This suggests that buyers and sellers are assessing their positions and waiting for a clear direction before committing to a trend. As a trader, you could look for a break above the daily resistance level as a potential long entry signalaccording to the MTB Strategy Rules. This could indicate that buyers have gained enough momentum to push through the resistance and continue the uptrend.
by InkyGrip
10
Shiba Inu will double in price, right now! Shiba Inu is absolutely ready for a massive breakout! I recommend to buy Shiba Inu right now because the technical analysis gives us a strong buy signal! As you can see, the price is breaking out of the descending channel with a successful retest. After the retest, I don't see any reason why Shiba should go down at this point. There are absolutely no unfilled GAPS below the current price, so it is extremely positive for the bulls. There is no reason to short SHIBA for the bears; they would prefer other coins. From the Elliott Wave perspective, inside the descending channel we can spot a zigzag, which is a corrective pattern. Usually, you want to buy a breakout of corrective patterns for an explosive move! There is no doubt that Shiba Inu knows how to pump drastically, and what can happen to you is that you wake up in the morning and you will see a huge green dildo, so I think you want to fill your bags before it happens! Also, we have a double bottom pattern on the macro scale between the previous swings from June 2022 and December 2022. Another great sign of a trend reversal. The most important question at this point is where to take profit. You don't want to take profit earlier than at the POC of the previous symmetrical triangle from 2021–2022. Be greedy and make sure you double your investment! Also you can long on futures with a reasonable stop loss! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
82
Time for correction buyers double bottom formedTime for correction and this is the confirmation. True for that drop from 22$ down back to mid 19$ of course a short retrace and then now going to finish up the correction. If you bought the dip around $19.60 good hold it; if you haven’t buy it now before the pump occurs. this is what happens you see a double bottom confirmation in a same zone. Tell you why solana will hit 30-45$.. 26$ confirmed the breakout and then started to drop to do a retrace fib and now 22$ confirmation for breakout so now double bottom has been witness that means the bulls will go up even more. First target to hit is 22$ first and finish off the breakout; once that done then be on the way to 27-30$ If you think it’s a sell then please change mind because you can not miss with double bottom from the bulls. Trade safe good luck and watch any reversals even if too short or short; even if going long. Comments any I miss or your opinions because what I see is a solid buy , double bottom , bullish breakout confirmation. From 19$ we will see up to 30$ this month perhaps higher.
COINBASE:SOLUSDLong
by JoyBoyVegae
1
BTC dump is coming? Hi dear community, I hope you are fine. I will be short. I will update my ideas about current situation on BTC chart. I'm looking at 2W BTC log chart by Heikin Ashi candles. I'm comparing 2022 bear market with 2015 coz they are very identical by many factors which I told in my previous analyses. So as you see after making double bottom with strong bullish div BTC pumped from 15.5K to 24.3K as I had mentioned in my previous analyses. There is huge resistance at 24.5-25K zone/200weekly EMA, range high, diagonal and horizontal resistances, monthly diagonal bearish trendline test etc. Approaching to key resistance bullish candles became smaller/check 3D or W chart/, buying volume was diminishing, the momentum was losing creating multi bear divergences on multi timeframes, as a result of the mentioned the price rejected at 24.3K & dropped to 21.6K filling created imbalance, and FVG zones bellow 22.3K. As you see after bottom, BTC created 3-4 big green Heikin Ashi candles marked in pink box and dumped to the main market structure making HL, at the moment you can notice the same green candles in a pink zone with RSI identical move as it did in 2015)). To be honest , we need this healthy correction putting HL in current structure. There is weekly FVG zone at 17.2-20.4K zone as well. In coming days and weeks, I expect BTC to dump to the mentioned zone and fill at least 50% of FVG which is 18.7K. More likely 18.5-19K zone will hold not only as a FVG zone but also strong horizontal support and we'll see strong reaction and bounce from that region which will lead the price to new highs)). If you like my ideas don't forget to like and follow me for further updates. I will appreciate any kind of support. Also check my other analyses.
BITSTAMP:BTCUSDShort
by ergal91
IEX the monopoly company has Double Bottomed for a reversalIEX has closed above EMA 9 & 20 the stock has taken multiple rejections from EMA 50 line which also acts as main resistance to the stock price since a long time. The stock is expected to reach the target price by taking its previous price actions. The stock price may retest EMA 50 before hitting Target 2. Place stop loss GTT trade while taking the position. remember to authorize the sell every morning to execute the GTT trades successfully. Note,: This trade idea is entirely upon my personal observation, this is not a recommendation or call. I request you to do your own research before taking the trade. Do comment for any doubts or clarification. NSE:IEX
NSE:IEXLong
by harshith67
5
KUCOIN GEM: FINDORAFindora is a nice microcap privacy crypto that's still very much under the radar. Currently only has a $8m cap. They plan to revolutionize privacy in crypto across the entire space. Spending 5 minutes of your time to read about this project or watch the latest video on their YouTube will get you interested for sure. This is not just another privacy coin, this product is revolutionary, simplifying privacy for the entire crypto space, with a focus on mass adoption. Anyway, on the chart we have a combination of 2 major bottom patterns. We have a clear Adam & Eve double bottom pattern + an inverted head & shoulders inside of it. It looks even better on the log chart, which I will provide after this post. Targets reach from as low as $0.005 all the way up to $0.027, and who knows where it could go if it ever hit a new all time high.
FLong
by jariii
Double Bottom on GBP/JPY @ D1The double bottom chart pattern has formed on the daily timeframe chart of GBP/JPY following a downtrend. I will use this formation as a potential bullish entry. The two bottoms are marked on the chart. The neckline is marked with the upper yellow line. My potential entry level is at the cyan line. My potential take-profit level is at the green line. A stop-loss (not shown on the chart) will be set to the low of the breakout candle or to the low of the preceding candle should the breakout one appear mostly outside the pattern's borders. I will ignore a bearish breakout from this bullish pattern.
Long
by AndriyMoraru
1
2 overlapping 4hr chart bullish patterns on ethusdWe can see a bit of a pump in price action on the 4hr chart for ether here. It appears to be breaking above the neckline of an inverse head and shoulders pattern(in yellow). Of course many times these patterns do not trigger their breakout on the first break above the neckline but rather dip back below it and wait until the 2nd or sometimes even 3rd break back above the neckline before confirming the breakout. Always a chance though this one could confirm on the first candle break above the neckline so its always wise to prepare for all possibilities. If it does indeed trigger the breakout of this 4hr inverse h&s pattern, the measured move target should carry price action above the neckline of a slightly larger double bottom pattern (in green). We’re this to happen, it could very well then flip that green neckline from resistance to support upon retesting it, thus triggering a double bottom breakout next which would take us to the green price target. Of course it could also trigger the breakout of the double bottom without retesting the green neckline, or it could break back below the green neckline and not actually trigger the double bottom breakout until the 2nd or even 3rd time above the green neckline (just like with the yellow inv h&s neckline)If I remember to be open to all of these possibilities, await for confirmation, and then make my move I’m sure I will play these 2 patterns wisely. We must also remember that a fakeout of the double bottom pattern or both patterns is also a possibility as well. The resistances/supports, price candles, and volume candles, should clue us into into which one of these possibilities will be the ultimate outcome soon enough *not financial advice*
BITSTAMP:ETHUSD
by DrDovetail
4