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Double Bottom

HD - could it break up soon?HD had been building a base for the past 9 months, forming a double bottom. It began to break above the 200 days moving average on 10th November and had sustain above this MA since. Currently it looks close to attempting a break above a neckline @ 327. However with still much uncertainty and volatility in the market, it is safer to long the breakup with a test-sized position. Any pullback to retest the neckline could be a safer place to increase position size if the neckline proves to be a new support and trailing stops should be in place. There is a chance the market could continue to whipsaw sideways for a while more until more economic data comes in. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:HDLong
by Juliac
2
USD Index multiple Bullish signalsUSD Index looking very bullish. Double bottom formed on the weekly and monthly. Monthly MACD cross up about to happen, last time that happened about June 2018 we jumped over 15% from 89.229 to 102.992. If we have a jump 15% from last low it would take us to about 104.457. Double bottom target is about 96.50. RSI on the monthly going up over 48 about to cross up over 50. Bullish Hidden divergence on the MACD as well. All just possibilities.
TVC:DXYLong
by mickey9278
1
XRP/USDT Double Bottomxrp/usdt Create Double bottom Chart pattern on binance at 4h time frame What is Double Bottom ? A double bottom pattern is a classic technical analysis charting formation that represents a major change in trend and a momentum reversal from a prior down move in market trading. It describes the drop of a security or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound (that may become a new uptrend). The double bottom looks like the letter "W." The twice-touched low is now considered a significant support level. While those two lows hold, the upside has new potential. In terms of profit targets, a conservative reading of the pattern suggests the minimum-move price target is equal to the distance of the two lows and the intermediate high. More aggressive targets are double the distance between the two lows and the intermediate high What is Tripple Bottom ? A triple bottom is a bullish chart pattern used in technical analysis that's characterized by three equal lows followed by a breakout above the resistance level. The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market. While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal. The third bottom indicates that there's strong support in place and bears may capitulate when the price breaks through resistance levels.
Long
by BabarLaghari
2
BTC weekly falling wedge pattern breakout and retest!!Hi dear community and my faithful followers, let's pay attention to this weekly falling wedge pattern which has broken and retested with false breakdown/bear trap/ and double bottom+ RSI bullish divergence. At the same time RSI diagonal resistance has been broken and retested as well. On the chart you explained why I think so)). Read bellow text to understand why I think this is a false breakdown/bear trap/ with double bottom. The bellow ideas are from my previous analysis coz the circumstances and the situation are the same. I think the recent dump to 15.5K is a fake breakdown/bear trap/ with double bottom + RSI bullish divergence like 2021 November top, which was a false breakout/bull trap/ with double top+ RSI bear div . So I think the real bottom was at 17.5K in June like the real top in 2021 April. I'm considering that BTC has succeeded to break RSI diagonal trendline and now It is making a retest, I think it will hold and send BTC to 28-30K. On chart you can find my explanation why I think RSI diagonal resistance has broken.
BITSTAMP:BTCUSDLong
by ergal91
2
BTC !!! the biggest descending broadening wedge patternHi dear community and my lovely followers. I posted BTC bullish megaphone chart pattern in my previous analysis and now I would like to bring your attention to this weekly descending broadening wedge bullish chart pattern. As you now BTC loves triangles and wedges)) Look how many descending broadening wedges had been broken since 2018)) but the recent is the biggest. Later when this broadening wedge will be broken I will post about the targets. The bellow ideas are from my previous analysis coz the circumstances and the situation are the same. I think the recent dump to 15.5K is a fake breakdown/bear trap/ with double bottom + RSI bullish divergence like 2021 November top, which was a false breakout/bull trap/ with double top+ RSI bear div . So I think the real bottom was at 17.5K in June like the real top in 2021 April. I'm considering that BTC has succeeded to break RSI diagonal trendline and now It is making a retest, I think it will hold and send BTC to 28-30K. On chart you can find my explanation why I think RSI diagonal resistance has broken.
BITSTAMP:BTCUSDLong
by ergal91
2
BTC !! Fantastic & life-changing opportunity or lower pricesI'm looking at 30D chart adding 2 customized indicators which show amazing history data)): Red columns on first indicator show BTC bottoming process in a bear market and when green color flashes after red new uptrend / bull run starts/. When green columns appears on 2d indicator it means BTC has already bottomed and when white color follows green column, it marks a new uptrend/bull run/ start. Be smart and make life-changing decisions. Don't miss such kind of fantastic opportunity. To tell the truth I don't expect lower prices. Based on my analyses new uptrend starts in December 2022: My worst case scenario is 13.7-14K - 25-30% probability and new uptrend from this point with double bottom 70-75% probability. People think BTC broke 17.5-18.5K support and expect lower prices, But I think this is one of the biggest bear traps/fake break down/ in BTC history and expect lower prices like 12-14K or even lower 8-10K. But BTC will surprise everybody like it did in 2021 November when everybody expected 100K + $ BTC, now when everyone is waiting lower prices BTC will pump with double bottom pattern as it dumped from 69K making double top. If you like my ideas , don't forget to follow me please. I will appreciate a lot.
BITSTAMP:BTCUSDLong
by ergal91
1
BTC Bullish idea !Description Hy Guys My Name is Harmain Welcome To My Trading View Ideas Page ! Here is a Analysis of BTCUSDT in 4H Time Frame Trade Plan (Entry Setup) Acording to Bullish Senerio BTC Accumalated Current Bullish Order Block + BTC Creating Double Bottom and W Pattren + in 4H Price is Acting as a Dynamic Support of 21 EMA + POC Level (Target Setup) Maybe Price Reached The Value Area High(VAH) + Price Filled the Imbalance (IMB) or Fare Value Gap (FVG) + Eat The Bearish Order Block Thanks For Visiting Cryptologic Bulls
Long
by Cryptologic-Bulls
BTC! Where is a real Bottom of BTC bear market?I'm looking at weekly timeframe of BTC chart. I'm comparing 2021 Bull market top with 2022 bear market bottom. Call me crazy but I think a real bottom of BTC bear market was in June 2022/at 17.5K/ as BTC real top of Bull run was in April 2021/at 65K/ Nov 2022 bottom is a bear trap and fake break down like Nov 2021 top which was bull trap and fake break out. I incline to think BTC bottom was at 17.5K on 18.06.2022 as I mentioned in my previous analyses coz I trust all my previous and current analyses , all history data, super powerful indicators which flashed BTC bottom only 3 times in BTC whole history and more than 20 powerful charts and analyses I have done since June 2022.
BITSTAMP:BTCUSDLong
by ergal91
4
DXY attempting a double bottom breakout.We just achieved a higher high on the daily time frame with DXy’s price action. Considering how long the history of the chart covers (several decades) the larger weekly and monthly time frames lower high/lower low & higher high/higher low sequences are probably more important for bull and bear trends than the 1 day is. So even with a higher high on DXY’s 1 day chart it will still just be another lower high on the weekly and monthly charts unless price action can get above this top green horizontal at $121. So even if DXY were to trigger this double bottom breakout and hit it’s full target of $117 it would still technically be a lower high on the macro timeframes unless it kept going and made it above $121. The current macro chart has been in a lower high/lower low bear pattern since the 70s if not much earlier. Considering the dollar has lost 97% of its purchasing power over the years and we just printed a ton of money and will likely continue to do so with inflation continuing to fly more and more out of control…it seems more likely that DXY’s price action does not get above $121 and instead forms yet another macro lower high before it turns back around. If we do trigger this double bottom pattern however then crypto will likely continue to see prices drop while it heads toward the double bottom target, since the DXY and crypto seem inversely correlated. *not financial advice*
TVC:DXY
by DrDovetail
XAU GOLD Trade Review | 5000 PIPS!Hello fellow traders, Nick here from CoinTraders Daily testing out TradingView as a content platform =) This gold setup ended up being our biggest winner of the year so far and I would love to share it with you guys. We had major confluence between our momentum indicators , structure levels and fundamentals for a huge move. For now the double bottom neckline has been broken thus confirming the bullish chart pattern. However, we have a big fundamental week upon us with midterm elections and inflation data. Ill be uploading a followup analysis for the next longing opportunity, so stay tuned for that =) I hope this post has earned your thumbs up, and that you have enjoyed it or learned something new. As always, stay safe, manage risk and I'll catch you on the next one. Much love and good luck! #gold #xauusd #forex #swingtrading
EIGHTCAP:XAUUSDLong
by NickofJupiter
BTCUSD: Hit our TARGET! What are the next key points to watch?• BTC hit the target we mentioned yesterday, as it triggered our Double Bottom chart pattern. The link to my previous analysis is in the link below this post; • Now, BTC shows some exhaustion, but it is still bullish in the short/mid-term, as it is doing higher highs/lows and it is above its 21 ema; • There’s no clear bearish top sign yet, and BTC would only trigger a sharper correction if it loses the dual-support area made by the 38.2% retracement + 21 ema in the daily chart; • In fact, if it closes above the $20,800 in the daily chart, it’ll trigger another bullish pivot point; • For now, let’s keep our eyes on these key points. I won’t set any other public target on it for now, but I’ll keep you guys updated on this. Remember to follow me to keep in touch with my analyses!
BITSTAMP:BTCUSD
by Nathan_The_Finance_Hydra