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Double Bottom

It appears that the metaverse & gaming cryptos are waking up. Just as we are finally seeing mana pump and gala, we are now likewise seeing sand follow suit too as it seems to have finally broken up from the extended descending bear flag it was in for the longest time that I have posted charts about in the past. There are two possible measured move targets for the yellow channel its breaking up from. The dotted pink line represents th target if the slightly lower top trendline is the more valid top trendline of the channel, and the dotted yellow line represents the breakout target for if the highest of the potential top trendlines of the channel is the more valid one. Often times they both end up being validated. The dotted dark bluish purple trendline is the measured move for when sand breaks above the top horizontal bluish purple neckline which is the neckline of the double bottom pattern its currently printing on the chart. *not financial advice*
BINANCE:SANDUSD
by DrDovetail
1
ETH/USDT BULLISH PATTERN! READY TO GO UPSIDE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this ETH/USDT Update. ETH/USDT is forming a bullish Adam & Eve double bottom pattern, suggesting a potential trend reversal towards higher prices. Analysis: Adam's Cup: We see a clear downward movement followed by a rounded bottom reversal, forming the left cup of the Adam & Eve pattern. Eve's Cup: The price is completed with a similar rounded bottom, potentially forming the right cup (Eve's cup) of the pattern. Neckline: A trendline can be drawn connecting the lows of both cups, forming the neckline. A breakout above this neckline is already done and it is a bullish signal. Indicators: Moving Average: The price is also breaking above the 100D moving average. Target: The measured move target for the Adam & Eve pattern would be the height of the first cup (Adam's cup) added to the breakout point above the neckline. Stop Loss: A stop loss can be placed below the neckline for risk management. 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
NEOUSD: Breaking Above the 0.886 within a Massive Double BottomNEO has formed a massive Double Bottom structure that has been in development since late 2018 and now nearly 6 years later is attempting to NEO has once again claimed the 21-Month SMA as support and aims to break back above the 0.886 Fibonacci Retrace. If it is successful in this we could see this be the start of a massive move to the upside, capable of taking it all the way up to as high as $140 a maybe even higher after that, though there may be a bit of resistance up at $56 level first as that aligns with the 0.618 and historical horizontal resistance.
Long
by RizeSenpai
SOL - Adam & Eve Double Bottom Confirming Overall performance rank (1 is best): 17 out of 39 Break even failure rate: 12% Average rise: 43% Throwback rate: 67% Percentage meeting price target: 69% The Adam & Eve double bottom pattern is a bullish reversal pattern that has been identified on the SOL Intraday price charts. Initially, SOL experienced a sharp decline from $180 to $155, forming the 'Adam' part of the pattern. This was followed by a more gradual, rounded decline over the next 10 days, forming the 'Eve' part of the pattern. This pattern suggests a potential reversal from the previous downtrend. Potential Market Implications The resistance level at $155 is pivotal for SOL's short-term price movement. A breakout above this level could confirm the bullish reversal indicated by the Adam & Eve pattern, potentially leading to a price target of $186. Statistical analysis suggests a 69% probability of reaching this target upon successful breakout. Strategic Considerations Investors and traders should consider the breakout above the $155 resistance level as a key signal for potential entry. It is advisable to wait for confirmation of the breakout before making any trading decisions. As always, it is important to consider other market factors and conduct a comprehensive analysis before entering any positions. Adam & Eve Trading Tips 1. Measure Rule Calculation: - Identify the highest peak (A) and the lowest valley (B) within the Adam & Eve double bottom pattern. - Calculate the height difference between point A and B. - Multiply this height by the 'percentage meeting price target.' - Add the result to the breakout price at point A to determine the price target (C). 2. Price Reversal Requirement: - Ensure there's a significant decline leading to the double bottom; minor declines typically result in minor rises. 3. Big W Pattern: - Favor double bottom patterns with a steep, tall left side (Adam) and minimal price consolidations during the decline. - Anticipate the price to rebound close to the level where the downtrend initiated. 4. Confirmation Necessity: - Wait for the price to close above the peak between the two bottoms for confirmation. - Without confirmation, there's a 48% chance the price will continue to decline. 5. Handle Formation: - After confirmation, watch for price fluctuations forming a 'handle.' - A breakout from this handle typically signals a strong upward trend. 6. Flat Base Indicator: - A significant rise is likely if the double bottom follows a long, flat base. - Use weekly charts to identify the flat base, resembling a pothole on a road. 7. Trend Impact: - Double bottoms following a short-term decline tend to perform best post-breakout. 8. Proximity to Yearly High: - Patterns showing breakouts within a third of the yearly high exhibit the best performance. 9. Volume Trend: - A declining volume trend leading up to the breakout suggests favorable post-breakout performance. 10. Throwbacks Warning: - Be cautious of throwbacks after the breakout, as they can negatively impact post-breakout performance. Conclusion The Adam & Eve double bottom pattern observed on the SOL chart indicates a potential bullish reversal. The upcoming resistance level at $155 is critical, and a breakout above this level could signal a significant upward movement for SOL. Investors and traders should monitor these developments closely and plan their strategies accordingly. ---------------------------------------------------------
Long
by TraderE9
Strong Buy Petronet cmp 214, target 300, Timeframe 1 month.Petronet is into developing, designing, construction, operation of owned and import Liquified Natural Gas(LNG) terminals in India. The company is in the niche business of transportation, storage and regasification of LNG. It owns and operates 2 regasification terminals at Dahej (Gujarat) and Kochi (Kerala) with a combined capacity of 22.5 MMTPA. It accounts for 40% of gas supplies in the country and handles ~75% of LNG imports in India. The company's major customers are GAIL, IOCL and BPCL. Petronet LNG has pioneered the concept of consumption of LNG as liquid ONLY in long distance heavy duty trucks and inter city buses. Small Scale LNG (SSLNG) includes supply of natural gas in the form of LNG to small consumers through unconventional transportation methods like trucks, small vessels etc Petronet is taking initiatives for promoting environment friendly LNG as a fuel in road transportation. It has commissioned India's first LNG dispenser stations inside Dahej & Kochi LNG terminals and has also commissioned the first commercially approved LNG powered buses of the Country.It has signed MOU's with IOCL, Indraprastha Gas Limited, Sabarmati Gas Limited, State Roadways Corporation like KSRTC for running few buses on LNG and establishing LNG dispensing stations at their locations. Petronet LNG is planning for construction of LNG regasification terminal at Bangladesh. It has submitted detailed feasibility report for construction of storage and gasification terminal in South Andaman. Similarly it is planning for setting up a Floating storage & regasification terminal at Colombo, Sri Lanka along with Japanese consortium. Petronet is planning for expansion of the capacities at Dahej Terminal to 22.5 MMTPA from the current 17.5 MMTPA. Key Ratios: ROCE - 26.6 % ROE - 22.8 % EPS - ₹ 22.7 Dividend Yield - 3.27 % Debt to equity - 0.20 Price to book value - 2.00 Stock P/E - 9.44 Industry PE - 18.1 Conclusion: With such a high ROCE and good dividend yield, Petronet is just trading at PE of 9.44 which is considerably undervalued as compared to Industry PE of 18. Technically the stock is poised to give a sharp movement upside as it started rising from strong support zone which is a double bottom pattern and the trend bullish structure is intact. Earlier the breakout of trendline is acting as as support. Trendline connecting lows was taken out for a few days only to grab a liquidity and exit weak hand and to retest strong support levels and from there it has risen sharply with high volumes and it iss again above lower trendline indicating a sharp reversal and good momentum to follow in coming days. The target expected is 300 in timeframe of 1 month which comes to 40% return in just 1 month.
NSE:PETRONETLong
by PrashantDahale
5
An update on the bitcoin dominance charts double bottom patternWe can see that Bitcoin dominance is still on its way to the full breakout target from the double bottom pattern it broke up from a couple months ago. After breaking up from the neckline of the double bottom pattern it formed a bullflag and seems to have just recently broken upward from that bull flag. The target of the bullflag breakout lines up nicely with the double bottom breakout target giving us some nice bullish confluence to increase the probability of hitting the full target of about 57.18%. Once bitcoin reaches this level, it would not surprise me if thats when alt really start to pump afterwards. We shall see soon enough if that will hold true. *not financial advice*
CRYPTOCAP:BTC.DLong
by DrDovetail
2
Double Your Winnings: Capture the Perfect Bounce with the DoubleA technical approach that could change your trading game. The Double Bottom, a classic chart pattern, comes in the form of a "W" and signals a potential uptrend after a period of decline. This configuration is characterized by two hollows formed at the same level, indicating a solid support. A high accompanying volume validates the signal and often triggers a significant price rise. Savvy traders measure the amplitude of the "W" to predict the potential upward trajectory. Understanding and acting on the basis of the Double Bottom can open the doors to calculated trading opportunities. It is the integration of technical analysis and risk management that will make you a savvy crypto trader, capable of capturing the wave before it takes off. Ready to turn analysis into action?
QLong
by ATheDay
#AUDJPY bullish possible continuation movePrice has correctively reached an important medium-term support zone , which is further reinforced by the presence of the 200EMA. Additionally, we observe that the price has taken out liquidity from the low and formed what appears to be a double bottom pattern. These indications suggest the possibility of a bullish continuation move, potentially driving the price back to previous highs and beyond. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
1