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Double Bottom

Here We GoHi everyone, Yesterday I mentioned that we are in a wedge (could be a bearish flag too), and we in a longer term downtrend. Right now, the market is doing a pullback (Bitcoin), after seeing a strong rejection from the last resistance. First the pullback is most probably 50% bullish retracement, but on the other hand, the rejection might have formed a double-top which I would not be surprised if it did that. -> Double-top/bottom usually forms after taking out the liquidity of the last high/low. Like what we just saw in BTC. In conclusion, I think that this pullback will determine our direction, if we are going up and touch the next resistance, or going down and our long-term downtrend. I personally lean towards touching the next resistance.
Long
by yassin_khanji
EURCAD Growth to Resistance 150+ PipsWelcome back! Let me know your thoughts in the comments! **EURCAD - 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
by BKTradingAcademy
2
XPR (Proton) Weekly Double Bottom Analysis : XPR (Proton) Proton is an altcoin available on multiple exchanges i.e. Kucoin & OKEX mainly www.protonchain.com coinmarketcap.com Also available on Pancake swap ( pancakeswap.finance ) The weekly chart is showing a massive double bottom with likely target of $0.02 being tested quite soon (200+%) The weekly setup alongside solid fundamentals is quite bullish 🔮🚀 Time shall tell exactly how high this coin could go! 🙏🔮 Likely to test that weekly pivot before years end (December) however it has been picking up steam lately & may attempt a move earlier 🙏🚀 KUCOIN:XPRUSDT OKEX:XPRUSDT UNISWAP:XPRUSDT
XLong
by RandomOracle
12
$EQNR moving up on the right side of its base!Notes: * Strong up trend * Good earnings in the recent quarters * Pays out a nice dividend * Created a double bottom and is now moving up on the right side of its base * Recently bounced off of its 50 day line Technicals: Sector: Energy - Oil & Gas Integrated Relative Strength vs. Sector: 5.8 Relative Strength vs. SP500: 3.16 U/D Ratio: 1.16 Base Depth: 22.21% Distance from breakout buy point: -3.9% Volume 13.32% above its 15 day avg. Trade Idea: * You can enter now as the price and volume are indicating bullish momentum * If you're looking for a better entry you can look for one around the $36.55 area * 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 7.24% away from its 50 EMA
NYSE:EQNRLong
by HaseebKhan_90
We are BackHi everyone, In my last post, I sent you a free signal (link down below) where the target was reached in one day. For today, we going to analyze BINANCE:BTCUSDT . After today's move, we can say that we are bullish on the long term. The main reason for that is because: 1. Volume is increasing exponentially for this range, which we did not experience in previous ranges. 2. We are in the month of July which, historically speaking, is the month where most market reversals happen in. 3. We are forming the start of a long-term uptrend, with a 42deg trend angles. 4. Finally, we are in a stage of accumulation according to Wyckoff's law. 5. We also just formed a double bottom on the daily chart Don't forget to comment if you have any questions😊.
Long
by yassin_khanji
2
$BJ ready to move higher from here?Notes: * Very strong up trend on all time frames * Great earnings track record * Forming a double bottom base for the past ~8months * It seems like this recent gap down may be forming a handle to the double bottom base * It needs to hold above $66.35 as support in order to stay bullish Technicals: Sector: Consumer Defensive - Discount Stores Relative Strength vs. Sector: 1.11 Relative Strength vs. SP500: 1.11 U/D Ratio: 2.08 Base Depth: 41.69% Distance from breakout buy point: -8.68% Volume 5.8% above its 15 day avg. Trade Idea: * You can enter now as it's showing demand around its 50 day line with higher than average volume * If you're looking for a better entry you can look for one around the $66.35 area as that does seem like an area of support * This stock usually has local tops when the price closes around 10.68% above its 50 EMA * Consider selling into strength if the price closes 10.48% to 10.88% (or higher) above its 50 EMA * The last closing price is 4.3% away from its 50 EMA
NYSE:BJLong
by HaseebKhan_90
ASX:MIN TRIPLE BOTTOM TREND BREAKASX:MIN Daily TF Waiting to see if Mineral Recourses Limited confirms the direction change & continuation. Off a Triple Bottom and Downtrend Break, the 2 remaining things I am looking for are Bullish Momentum indicated by RSI & price to break through Resistance Zone. This happened in a similar occurrence at the start of the year JAN-MAR. If it fails to break Daily Resistance & Resistance Zone I am looking for price to return to Daily Support where the Triple Bottom occurred. "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
ASX:MIN
by Trader_Johnni
CELOUSDT on a double bottom 🦐The price has tested perfectly twice the support area at the recent low. Being the double bottom an inversion pattern i will look for a slightly higher retracement remaining bearish anyway the gersal market outlook. How can i approach this scenario? I will wait for the EU market open and look for a break of the resistance, in that case i will move on the 4h timeframe to look for a nice long order according to the Plancron's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
$VRTX showing multiple signs of continuation!Notes: * Very strong up trend on all time frames * Great earnings track record since 2017 * Breaking out of a ~4 month base with higher than average volume * Printed a pocket pivot * And offering an early entry relative to its 50 day line * Breaking above a historical resistance of $290.48 with volume once again (Third time's the lucky charm? ;)) * Formed a relatively flat handle to the double bottom * Offering a low risk entry Technicals: Sector: Healthcare - Biotechnology Relative Strength vs. Sector: 1.32 Relative Strength vs. SP500: 1.16 U/D Ratio: 1.97 Base Depth: 24.6% Distance from breakout buy point: 0.03% Volume 8.7% above its 15 day avg. Trade Idea: * You can enter now as it's just breaking out of its double bottom base with higher than average volume and it printed a pocket pivot * If you're looking for a better entry you can look for one around the 290.5 area as that should hold as support * One thing to keep in mind is that there are two more historical areas of resistance that will come in the way before we hit the target * Look for confirming price action around those levels before adding to the position * Or, if we see lots of rejection around those levels, consider exiting the position earlier * This stock usually has local tops when the price closes around 11.93% above its 50 EMA * Consider selling into strength if the price closes 11.73% to 12.13% (or higher) above its 50 EMA * The last closing price is 6.9% away from its 50 EMA
NASDAQ:VRTXLong
by HaseebKhan_90