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Double Top or Bottom

Artyfact- Great buy for medium termAfter a challenging start to the year, during which OKX:ARTYUSDT token dropped significantly from above $2 to around the $0.35-$0.37 range, the token finally appears to have found its bottom during the summer. Since then, it has entered a period of consolidation, showing signs of stabilization after a long period of decline. In recent months, OKX:ARTYUSDT price has been trading within a tight range. However, it has now broken out to the upside, signaling a strong possibility of a trend reversal. This breakout is a positive indicator for the token, suggesting that it may be preparing for a more sustained upward move. At the time of writing, the price sits just above $0.50. As long as it holds above the key support level of $0.45, there are solid bullish prospects for the token. This level acts as a crucial threshold; if the price remains above it, it could pave the way for further gains. My Trading Strategy: Personally, my strategy is to buy on dips below the $0.50 level. Given the upcoming beta version release and, most importantly, the token’s very low market cap, I see significant potential for upside. In fact, I wouldn’t be surprised to see at least a 5x return on this project over the medium to long term. For traders with a short-term outlook, the $1.00 level could also serve as a reasonable target. If momentum continues to build, this zone may offer a strong point to take some profits or reassess the position. Conclusion: Artyfact has faced its share of struggles, but recent price action suggests the token may be gearing up for a comeback. The combination of technical signals, a key breakout, and the token’s low market cap all contribute to a positive outlook. Whether you’re in it for the long haul or just looking for short-term opportunities
Long
by Mihai_Iacob
Bearish Reversal Setup for BNBUSD - Targeting Key Support at 472Description: In this daily analysis of BNBUSD, several bearish indicators suggest a potential decline towards the $472 support level: Bearish Divergence on RSI: The RSI is showing bearish divergence, forming lower highs while the price has formed higher highs, indicating weakening momentum and a potential trend reversal. Resistance at $607 - $628: The price is currently facing strong resistance within the $607 - $628 range. This resistance zone has previously acted as a supply area, and the recent rejection indicates that sellers are in control. Double Top and Descending Triangle Formation: The recent price action suggests a potential double top formation around the $620 level, coupled with a descending triangle pattern, which are both bearish signs. Price Target at $472: If the bearish scenario plays out, we can expect the price to move towards the key support at $472, which represents a strong area of demand. Trading Plan: Entry: Consider a short entry if the price breaks below $593 or on a confirmed retest of the resistance zone. Stop-Loss: Set a stop-loss above $628 to manage risk. Target: The primary target is $472, with potential for further movement depending on market conditions. Remember to manage your risk appropriately, as market conditions can change quickly. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research or consult a financial advisor before making trading decisions.
BINANCE:BNBUSDShort
by Ayrop-Dev
Selling EURUSDHello traders I hope you are having a wonderful week:) This is a very nice trade: The ZONE(Supply): We have this nice zone here some of you might call it supply. It can be observed that every time we gen near the ZONE we see a lot of bearish power. The Triangle: This Triangle is neither bearish or bullish as it is a neutral pattern but if we see a breakout on the bearish side it will be a nice A+ setup. Be careful of the retest Divergence: This is not an A+ divergence as it is has been disturbed by the shadows. The Double top and entry: I've identified a double dop which will give me a nice entry at the neckline. A+ setup or what?
Short
by Linkhive001
DOGE PARABOLIC?? First, watch for these TWO CONDITIONS Dogecoin has been one of my top altcoins to watch for 2024, and it's likely going to be a key player in the parabolic runs during the next impulse wave UP. If you've been following for a while, you'll know I've been anticipating impulse wave 4-5 around December ( according to Elliot Wave Theory). Across many altcoin charts, we see very clear bottoms as the prices are making their way to the fist major resistance zones. We see it HERE, on Avax: HERE on FETCH: And even on ADA, Here: ______________________________ BINANCE:DOGEUSDT
Long
by CryptoCheck-
2
Bitcoin Eyes $64,928: Will the Double Bottom Confirm?Hello, fellow traders! Today, I’m diving into Bitcoin’s recent price action following the Fed's rate cut decision. Bitcoin has been stuck in a range for some time, and the recent -50bps rate cut has triggered a positive market reaction. Let's break down what this could mean for Bitcoin's next move, with a focus on the developing Double Bottom pattern. Current Situation: After the Fed's decision on September 18th, Bitcoin is showing signs of upward momentum. However, it's still forming a Double Bottom pattern, which needs to move up to the neckline at $64,928 to confirm a potential breakout. What to Watch: The key target level for a bullish continuation is $69,607 . Currently, we only have a Higher Low established on September 7th, which hints at a possible shift in market sentiment. Risks: The invalidation level is around $53,968 . If Bitcoin drops below this, it would form a Lower Low, potentially signaling a bearish trend. What do you think, traders? Will Bitcoin break through the neckline, or are we in for another pullback? Share your thoughts in the comments – I'd love to hear your perspective on this pattern! If you found this analysis helpful, please give it a like and follow for more insights. Let’s keep an eye on Bitcoin’s next moves together! Feel free to ask any questions or request an analysis of another asset in the comments.
CRYPTO:BTCUSDLong
by ArShevelev
8
GOOGL may be ready to rally with the other Magnificent 7.NASDAQ:GOOGL has not performed as well as other Magnificent 7 names, which are currently trading much higher than their August 5th lows. If NASDAQ:QQQ continues to build above its daily 50 SMA, and other technology names in this space continue to move higher, GOOGL may start to move higher as well. GOOGL has held demand at the retest of the previous all-time high and may break out of a falling wedge on the weekly chart.
NASDAQ:GOOGLLong
by DMT_Doctor
4
Swan Energy: Double Bottom Formation Suggests Potential ReversalThe chart is actually showing a double bottom pattern. This pattern is characterized by two consecutive low points, followed by a rebound. Technical Analysis: * Double Bottom: The formation of two similar low points suggests a potential reversal of a downtrend. * Neckline: The line connecting the highs between the two lows acts as a neckline. A breakout above the neckline could confirm the bullish reversal. * Volume: The volume appears to be increasing during the formation of the double bottom, which is a bullish sign. * Moving Average: The 50-day moving average (MA) is currently below the price, indicating a bullish bias. A break above the MA could further confirm the uptrend. Trading Strategy: * Wait for Breakout: A conservative approach would be to wait for a clear breakout above the neckline with increasing volume. * Stop Loss: Place a stop loss below the recent low to limit potential losses. * Target: The target could be based on the height of the double bottom or technical indicators like Fibonacci extensions.
NSE:SWANENERGYLong
by TradeAXN