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Double Bottom

First bounce with valid RSI support First, this is not entirely my idea. Someone posted it in chat, and then deleted it immediately and then I couldn't find them or their chart. But I saw it long enough to get the picture. The 3 bounces prior to this one since $17.8, have all crossed over above 30 on the RSI, on the 4 hour. Generally those aren't oversold enough conditions to make significant impact. This one is different however, as you can see it crossed below the 30, and that's a bullish signal. Couple that with the double bottom and it makes for a compelling case for a strong rally to the upside. In any case, I'm staying cautious, leaning a bit bullish. Will place some longs if we can get clean above $21,500. But they will be tightly controlled as things are tricky to read right now. There are other indicators working against BTC too of course. Zoomed in, the chart actually shows a triple bottom forming on the 15m, which is like a double bottom, but more specifically a reversal signal. Regardless of all of this, the chart zoomed out, at a glance, looks quite sketchy, IMO, but I still think we go to low $22k.
Long
by D-Rock_Anomaly
2
Textbook Double Bottom If we're going to reverse this trend in the short term, I'd wager that this double bottom is a good potential spot for it to happen, and it might take us to the heavy resistance zone in the low 23k range. This is just a short term idea for the next 12-24 hours or so, not a prediction of an overall trend reversal to the upside, I think a revisit ~$18k is easily possible... But it's a tricky market to read right now, it's very split. I like simple ideas in times like these.
Long
by D-Rock_Anomaly
$EQNR is breaking out of its base with a Pocket Pivot!Notes: * Very strong up trend on all time frames * Good earnings in the recent quarters * Created a double bottom base for ~5 months and is now breaking out with higher than average volume * Not much else to say... it's a great looking chart ;) Technicals: Sector: Energy - Oil & Gas Integrated Relative Strength vs. Sector: 6.09 Relative Strength vs. SP500: 1.64 U/D Ratio: 1.17 Base Depth: 22.23% Distance from breakout buy point: 0.44% Volume 31.67% above its 15 day avg. Trade Idea: * You can get in now (at $38.44) as the price is just breaking out * If you want a better entry you can look for one around the 37.7 area if it comes back down * Right now it does seem to be gaping up so I wouldn't chase the price... Lets see how it behaves after the gap up and offers another entry * This stock usually has local tops when the price closes around 15.28% above its 50 EMA * Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA * The last closing price is 7.64% away from its 50 EMA
NYSE:EQNRLong
by HaseebKhan_90
BTC/USDT - 1H - Bullish ReversalBTC/USDT has been in a bearish trend. The price action has bounced off an important Support Zone that seems to have caused a bullish reversal. The Bullish Bias is based on the following signals: Price has stopped making LHs and LLs Double bottom at support with neckline breakout GMMA: Slow and Fast MA crossover Falling Resistance breakout with bullish hammers Bullish divergence on RSI + strength over 50 and not too near overbought levels OBV convergence with price (uptrend has conviction) Expecting bulls to be in control and take price towards the Resistance Zone .
Long
by yo_zubair
2
BTC LTF UPDATE! DOUBLE BOTTOM!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC quick update. BTC looks good in ltf. Currently, trading around $21.3k level and it is forming a double bottom pattern at $20.8k level which is generally a bullish pattern. There is some resistance at $21.5k level. Once BTC breaks above $21.5k level then we might see a good rally up to $22.8k level. Invalidation level:- Any hourly candle close below $20.8k If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
8
BTC/USDT : Possible double bottom!BINANCE:BTCUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $BTC has reached the local lows that formed a double bottom in July 2022 and caused the second rush above $24000. Now, There can be a mini fractal out our last double bottom and cause another rush based on correction of the local bearish basement we have before the drop! So, In this case, We need another rejection attempt below/near $20750 to form the Double bottom or QM pattern with a bullish convergence into RSI. If this happens, Then I'll set my trigger to locate my Long as $BTC gets closings above $21450. Stop-loos after trigger and the scenarios Invalidation, Both should be a Close below the Grey zone, Which has been announced as an S/R zone from early July! Anyway, If we get caught on Stop-loss/Invalidation, Then I'll be looking forward to locating my Short once $BTC gets below the lower bullish order-block at $19900 - 19600. 📝 We have made 12% on $BTC's short and 10% on $ETH's short. So taking Profits and waiting for new triggers won't leave us behind the market's trend 😉 Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
4
$KBR is showing signs of moving higher!Notes: * Very strong up trend since 2016 * Great earnings track record * Basing for the past ~5 months * Created a double bottom and is now approaching the top of the handle * Recently bounced off of its 50 day line * Offering a low risk entry Technicals: Sector: Industrials - Engineering & Construction Relative Strength vs. Sector: 2.23 Relative Strength vs. SP500: 2.26 U/D Ratio: 1.52 Base Depth: 28.54% Distance from breakout buy point: -7.85% Volume 10.62% above its 15 day avg. Trade Idea: * You can enter now as the price is still close to its 50 day line on stable volume * If you're looking for a better entry you can look for one around the 51.8/9 area as that should hold as support * If you're looking for a safer entry you can wait for a break and hold above 53.26 * This stock usually has local tops when the price closes around 15.01% above its 50 EMA * Consider selling into strength if the price closes 14.81% to 15.21% (or higher) above its 50 EMA * The last closing price is 4.37% away from its 50 EMA
NYSE:KBRLong
by HaseebKhan_90
Is $CCJ ready to start coming up on the right side of its base?Notes: * Strong up trend since March 2020 * Good earnings in the recent quarters * Has been basing for ~5 months now * Seems to have formed a double bottom with a handle * Printed a pocket pivot with a bullish pin bar in the last session * Red lines denote historical levels Technicals: Sector: Energy - Uranium Relative Strength vs. Sector: 2.32 Relative Strength vs. SP500: 1.64 U/D Ratio: 1.02 Base Depth: 57.8% Distance from breakout buy point: -21.39% Volume -6.15% below its 15 day avg. Trade Idea: * You can enter now as the price is close to its 50 day line and is offering a potential early entry * If you want a safe entry you can wait for a break above 26.16 as that is immediate resistance * This stock usually has local tops when the price closes around 20.97% above its 50 EMA * Consider selling into strength if the price closes 20.77% to 21.17% (or higher) above its 50 EMA * The last closing price is 5.76% away from its 50 EMA
NYSE:CCJLong
by HaseebKhan_90
CAD/JPY - 1H - Breakout SetupCAD/JPY is in a range, forming a symmetrical triangle . The price action is currently testing an important resistance zone after forming a double bottom on support zone. I'm expecting a resistance breakout due to Double Bottom + Bullish Divergence on the RSI and Volume uptrend on OBV. Now key zone for bulls is to break above the resistance zone. While a break from support zone will bring bears in party. The price could also stay in the range. Trade your levels accordingly.
by yo_zubair
Double bottom & bullflag both share the same breakout targetWe can see the double bottom pattern here in blue and the bullflag in lime neon green. Both breakout targets take us to the 26.3k range. This is great bullish confluence also great to see how when inside the flag the price action held perfect support when retesting the teal horizontal neckline of the double bottom. This all appears to be leading to something potentially much much bigger though as we can see on the coinbase chart price action is now above this descending white trendline. If we can flip this trendline to solidified support we might see a much bigger macro chart pattern breakout of a monthly chart falling wedge that has a much bigger target. I will post a separate Idea about that pattern and link both of these ideas together. Looking quite bullish overall I think the uptrend is going to be officially confirmed here. *not financial advice*
COINBASE:BTCUSDLong
by DrDovetail
3
AUDUSD Double Bottom Completed 80+ PipsWelcome back! Let me know your thoughts in the comments! **AUDUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
2
Gold pushed up during London-AnalysisThere was a great opportunity to trade a double bottom during the London Session. A double bottom formed on the 30 minute chart. Price had originally moved up the the previous day's high (upper white line), but was rejected multiple times until if fell back to the 38.2% level Fibb. Following this drop, price moved up a bit and tried to hit the daily level again, but was rejected back down. Price created a rising trend line. The second leg of the double bottom broke through the trend line to be created. After being created, price was able to break above the resistance.
FX:XAUUSD
by Shanktown