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Triplebottom

Illuminia ILMN triple bottom reversal breaking out This could be a triple bottom or an inverse head and shoulders depending on your interpretation. Seems today this broke out of both formations and had a failed attempt to get through a very nearby resistance at $431.19 I'm a buyer with a close at $432 or above but also wouldn't be surprised to see a slight pull back to the head and shoulders line of the $420 range for a second entry opportunity. It should act as a support level now the shape is broken. For extra encouragement it looks like 21 day and 50 day SMA are due to cross. Also worth waiting for this move to play out before entering. For those of you with a preference for EMA I'm guessing it already crossed but check for yourself.
NASDAQ:ILMNLong
by JBlack99
Continued Wyckoff Accumulation Change in Plans In my earlier post about Wyckoff I estimated that the total corrective wave would have played out earlier. However it looks like the first wave was extended a lot to the low on the 28th of March. As of now I extended Phase B a little more to make sure the essential waves are in play before we head on to Phase C. Last night we found support on the 0.5 fibonacci trend-extension (the trend of the high of march 27th to low march 28th to high march 28th). After this is rallied back to the .618 fibonacci of the very first wave of phase B. This also created a double top *, which in most cases is a bearish scenario when there is a close below (3) around 34,900. When this happens we could see a drop to the .786 of the earlier mentioned fibonacci trend extension, or in the worst case scenario we could go for a test of the support line. At the moment of writing bitcoin is also testing the .382 of the first wave, when this holds a triple bottom is created which is a bullish scenario when it closes above the double top mentioned before. Just keep the two scenarios in mind. When there is no breakout into either direction a trading range can be established over the weekend and could result in a volatile Monday. * the double top is also supported by a 1.272 fib trend extension of the last 6 weeks. In the chart below you can also see that the target of Spring is somewhat at the same level of the 1.618 extension.
BITFINEX:BTCUSD
by DaanVerbeek
9
ANKR daily looking primed ANKR Daily chart here looking like we have a bull flag / triple bottom in the making. Targets will be back to .13/14 range of resistance From there back to the all time high of .21 then the .618 fib. I feel when we get to that point it runs we will break above the top of the Fib an run towards $1 on the spike/wick before we come back down to the mid .60 range on the first burst. This should start to come to fruition over the coming days and weeks. Unless bitcoin gives us all a middle finger.
COINBASE:ANKRUSDLong
by One5h0t
2
Triple Bottom BounceAs Bitcoin continues to hold the support level of $53k, a triple bottom seems to be forming which is a bullish signal showing significant interest to buyers and a trend reversal could be approaching, further being supported that sideways price action and low volume usually indicates that a major move is imminent. If volume begins to increase and price moves towards the neckline we can expect a breakout towards $65k again. Bitcoin has been respecting the 50 day moving average since the beginning of October 2020, this being the first time we've had a daily closing candle below, In previous market cycles this has occurred which then resulted in a significant move back above and beyond which happened in the 2017 bull cycle . The MACD averages seem to currently be respecting each other which doesn't indicate any selling signals as of yet on the 4 hourly . The violent downwards move could be explained by the recent increase in news stating that the current bull market is coming to an end which triggered multiple people to sell which then lead to multiple liquidations longing after we managed to break an all time high. There is a possibility $65k may have been one small market cycle top while another may happen later this year after we trend downwards for several months. Instead of this I believe Bitcoin will finish with a blowoff top considering the amount of institutional inventors involved now preventing the price from falling significantly.
Long
by Rogez
Breakout From Falling Wedge Here it looks like we're getting another trend reversal on CHPT. Over the past 2 weeks it's been in a falling wedge pattern. Today we saw it break out of the falling wedge and retest the previous resistance as support. Then from there it jumped up about 5%, so great bullish signal we broke out of the downwards trend. Not only that but we also have a triple bottom now at the 19-20 dollar range in the last several months. I'll be catching it on a dip tomorrow and jumping in to ride it back up to the 30-32$ range for a swing. Hopefully we get a Biden green infrastructure announcement to help give it a little boost over the next 2 weeks.
NYSE:CHPT
by OfficialKairosMusic
1