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Double Bottom

XDC working on a double bottom/invh&s combobreakerAfter some very bullish priceaction over on the 1day chart, coinciding with the 1day chart’s golden cross, : XDC has now found itself above the weekly 200ma (blue line)show on this weekly timeframe man idea I posted at the top of this page. Once it can solidify support on the weekly 200ma it should then break above both the tan trendline(inverse head and shoulder neckline) and the green trendline(double bottom neckline) once it hits the top target for the double bottomsbreakout XDC will then have made over 800% gains since the bottom of the market where it was trading at just below 2 cents. Now that it has gotten the same daily chart golden cross springboard launchpad several other alt coins have gotten I think it will reach these targets sooner rather than later. *not financial advice*
BITFINEX:XDCUSD
by DrDovetail
XDC working on a double bottom/invh&s combobreakerAfter some very bullish over on the 1day chart coinciding with the 1day chart golden cross: XDC has now found itself above the weekly 200ma (blue line)show on this weekly timeframe man idea I posted at the top of this page. Once it can solidify support on the weekly 200ma it should then break above both the tan trendline(inverse head and shoulder neckline) and the green trendline(double bottom neckline) once it hits the top target for the double bottomsbreakout XDC will then have made over 800% gains since the bottom of the market where it was trading at just below 2 cents. Now that it has gotten the same daily chart golden cross springboard launchpad several other alt coins have gotten I think it will reach these targets sooner rather than later. *not financial advice*
BITFINEX:XDCUSD
by DrDovetail
DGB blasts above double bottom target; invh&s now in play.Digibyte reached the double bottom breakout target and then some with yesterday’s big green candle. Now that it has spent the current daily candle consolidating, it has already consolidated long enough to make it so there is currently a valid inverse head and shoulders pattern in play on the 4 hour chart. If it takes a few more daily candles of consolidation before the next leg up then that inverse head and shoulders pattern will probably also qualify as a daily chart pattern as well. Digibyte has room for lots of upside, and now that I’m realizing it is a US based cryptocurrency, if Trump truly were to exempt US cryptos from capital gains tax, then I think it is a high probability digibyte could see new all time highs this bull run, which would mean tremendous upside from here. Even if digiibyte were simply to just trigger the breakout of this currently developing inverse head and shoulders pattern though, the target for that would almost double digibyte’s current value. So yes tremendous upside potential here. *not financial advice*
CAPITALCOM:DGBUSD
by DrDovetail
5
Tezos painting a double bottom pattern on the weekly chart?XTZ just hit its previous breakout target and much like hbar proceeded to then fly right past it and keep pumping. We can see price action is now about to reach a potential double bottom neckline on the weekly chart here. Always a good chance after a pump like this price will end to consolidate a bit before getting a second wind needed to confirm the breakout of this pattern and head up to the next target, but being that we are now in the parabolic phase of the bull market and total2 chart is about to confirm a cup and handle breakout, we may see a much shorter period of consolidation before it does try to validate the double bottom patter than we normally would. If we can confirm the breakout around where I have arbitrarily placed the dotted measured move line Tezos could climb back to $2.50 and reclaim some of its previous glory. *not financial advice*
COINBASE:XTZUSD
by DrDovetail
1
Bullish Double Bottom Pattern Tutorial: 4/8 Bullish PatternsGive me the description for a bullish double-bottom A bullish double bottom is a powerful reversal chart pattern that signals the potential end of a downtrend and the beginning of an upward trend. Here’s how it forms: Two Troughs: The pattern starts with a significant price decline, forming a low (the first bottom). The price then rebounds to create a peak (the middle of the "W" shape) but soon declines again to form a second bottom roughly at the same price level as the first bottom. This double bottom resembles the letter "W." Neckline: The horizontal line that connects the peak of the middle rebound is called the neckline. This is a key resistance level that the price needs to break through to confirm the pattern. Breakout: A breakout above the neckline, typically accompanied by increased volume, confirms the double bottom pattern and signals a potential trend reversal from bearish to bullish. Price Target: The estimated price target for the upward move is usually determined by measuring the distance from the bottoms to the neckline and projecting this distance upwards from the point of breakout. Traders view the double bottom as a strong indication that the previous downtrend has exhausted and the bulls are gaining control, leading to a potential significant upward movement.
NYSE:SMREducation
by RonnieV29
2
Text book bullish W-Bottom on weekly. Huge gains here. USDDKK and a Weekly chart Double-bottom which has just passed through the neckline. Look for a retrace back to neckline. On USD strength at the moment, this is sure to climb during trading today and the next several weeks. Massive RR. Thx Chris. Stupid-bloody software. Ignore the chart above. I tried to delete and overwrite but this damn software that some of us spend so much time is simply bs. Here is a 5m chart showing the breakout and a retest back on the neckline which is the red-dotted line. It may conduct a retest again or look for a fib retracement or a good ol' market order at these low levels. Be aware that Double bottom breakouts even over and beyond neckline, often retrace in a big way back underneath the neckline to push traders patience and take stops. Then price breaks out again. I can't see the above happening because this is a weekly chart firstly, plus the USD is too strong in momentum currently. Your're welcome:)
Long
by Easy_Explosive_Trading
Is a Trend Reversal Coming?OANDA:EURUSD Multi-Timeframe Analysis Current Price: 1.07962 Potential for a Bullish Reversal: EUR/USD is showing strong signs of a possible bullish reversal across multiple timeframes, marked by key technical indicators: • Breakout of Descending Channel Upper Trendline • Weekly Major Support Zone • Potential Double Bottom Formation • Emerging Bullish Divergence Descending Channel Breakout: The price has broken above the descending channel’s upper trendline (highlighted in the red circle on the chart), turning this line into a weaker resistance zone. Weekly Major Support Zone: We anticipate that price may retest the major weekly support level at 1.07421. This zone could serve as a solid foundation for a double bottom formation, combined with a bullish divergence. If this occurs, it could present an optimal entry point for buyers. Top of Trading Range: Should price rally, the next significant resistance lies at the top of the trading range, around 1.08635. Given the strength of this resistance, we might see a pullback at this level before further movement upward. Price Target: Based on technical indicators and chart patterns, the final target stands around the psychological level of 1.10000. Key Levels to Watch: • Support: 1.07421 • Resistance: 1.08635 • Target: 1.10000 Stay tuned and happy trading!
Long
by SpicyPips
XRP finally ready to take off ?xrp is finally getting bullish based on date range i would not take long for it to take of.looking like a big double choppy bottom. if we see the fixed range volume profile of the session traded from may 2021 to april 2022 we see the VAH at around $1.05. also this is in confluence with the trend based fib extension 1. so $1.05 would be my first target for xrp. offcourse it could go higher. around $1.48 is also a realistic target based on the 1.618. also on the monthly candle we see a bullish engulfing candle. overall XRP is looking good and ready to take off. but dont overleverage because the chart is super choppy. cheers!
Long
by Professor_TradeStein
6
Double Bottom with Billions of Metric Tons of Lithium - SLIHere I have AMEX:SLI on the Daily Chart! Technical - A Double Bottom Reversal Pattern has formed and with the Bullish Rally started from the ~1,800% increase in the Estimate to Reported Results for Earnings and Revenue on Sept. 24th, we see Price Breaking our Confirmation of Pattern @ 1.98! This weeks Price Action has created a Volume Imbalance between ( 1.91 - 2.03 ) that Price may choose to Fill before it pushes Higher! Now Price is struggling with the Resistance of Previous High @ ( 2.28 - 2.38 ) -If this rise can be sustained in becoming a New Higher High than our Confirmation of Pattern, we can expect Price to Retest this Break of Confirmation to find Support! *If the Retest of the Break is successful, we can then suspect Price to find Resistance again at Previous Highs @ ( 3.59 - 3.89 ) Indicators: - Golden Cross with 200 EMA and Dynamic S&R - RSI is Above 50 - Strong Bullish presence in Volume leading to Confirmation of Pattern Fundamental - Under all this utter devastation that Hurricane Helene and Milton have done to North Carolina and Florida and now with the wildfires ravaging Wyoming, these disasters have uncovered massive Rare Earth Elements and Metal Deposits containing around Billions of Metric Tons of essential components needed to power our shift forward from the Industrial Age to what feels like the Digital Age. -Adding potential future mining sites to the already known deposits in Nevada, Pennsylvania and California. EV and other technology advancements will come soon now with these essential minerals and metals possibly on the Brink of Extraction!
AMEX:SLILong
by Novi_Fibonacci