Get started

Double

An important flashback to a previous Adam and Eve Double bottomhere we have on the 1 day chart, back on a very important day in bitcoin(September 15th, 2017), something extremely worth noting the importance of. You can see where I've circled on the volume chart the tall green bar for that day...this green bar just so happened to be the biggest bull volume swell of the entire year of 2017 and it was exactly 3 months later on December 15th that bitcoin hit it's all time high. I originally assumed that this volume bar was the main catalyst for that all time high and later after the low in February, when we received yet another huge bullish volume burst that was even somehow slightly bigger than this one, I anticipated that we may get lucky and reach a new all time high 3 months from february 6th (May 6th)....at the time I had only that to go on...until the possibilities of an Adam and Eve double bottom to lift us out of are current dip started becoming a real possibility and then I decided to look back to this september catalyst to check and low and behold we formed an adam and eve double bottom during its volume spike too...which further convinces me both that we are about to have a valid adam and eve double bottom...and an eventual bullish breakout that then eventually leads to a new All time high. This is nothing but a little bit of history repeating...so if we do complete this adam an eve double bottom I think a new all time high around may-june is entirely feasible. I haven't heard anyone else yet say they spotted this so I wanted to be the first to put this idea out there to help get others to notice it...I haven't checked the moving averages with it but it wouldnt surprise me if there was a death cross somewhere around this time frame too...I will check after I initially post this idea and if there is I will notate it in the update section. Cheers!
BITFINEX:BTCUSD
by DrDovetail
6
What hints to expect if the Adam & Eve Double Bottom is ValideHi all just wanted to gie you an idea of what to watch for if this bigger Adam and Eve double bottom is valid. If it is the size I'm projecting, then the bottom is likely already in at $6420 back on Easter(aka Jesus' resurrection and possibly btc's resurrection?) so far we have just established a higher low on the 4hr chart after the higher high we had of 7500 so we need now to establish one more higher high on the 4hr to give control of price action back to the bulls...we will probably form a higher low on the 1 day chart before that happens though so be on the lookout for a higher low on the 1 day as that hasn't happened yet. If we can achieve a higher high on the 4 day that will be a great sign. If the Eve bottom truly is forming the way I think it is we should also on the next retracement only go down to around 6520-6660 max before picking back upward...as you can see by the symmetrical arc I gave it (which in crypto things rarely prove to be that symmetrical but it's just a rough guideline to go by) we have reached the end of the downward motion and should start sloping upwards if so we won't be going under 6800 again after the 15th of april....and if this is correct we should be back above 10400 by may 15th but we could also easily break above that and validate the adam and eve far before that since things are never quite that symmetrical. To reach those heights by May 15th would be excellent, and when you realize that the volume spike we got on february 7th is larger than the one from last year that 3 months after it happened we got the alltime high...there's very good reason to believe that we may be able to reach another all time high some time in May. Breaking above the 10400-10500 area and closing above it by may should trigger the eve shoulder and send us upward to 14700 or so...an from there the FOMO that kicks in could easily take us above our all time high...especially with all this news of institutional investors entering the market, and people like rockefellers creating venture funds for crypto and george soros getting involved in crypto...it all hints at a very bullish turnaround very soon. So for the longterm at least I am long so this idea will be long...but in the immediate day or 2 we may drop back down to the uppers 6500s-6660 region and then by the 15th of this month i dont think you'll see us get below 6800 again. You choose your own path however as this is not financial advice. Good luck and thanks for reading!
COINBASE:BTCUSDLong
by DrDovetail
My Thoughts On a Potential Adam and Eve Double Bottom (longterm)A fellow tradingview publisher by the handle of @BTCookieMonster (follow him and give his charts views and likes please) created a very nice chart hypothesizing an Adam and Eve Double Bottom which would result in a great uptrend. I totally agree with him and find that outcome highly probable but I think his adam and eve is really just Eve.....and That Adam is the Low from February....here is his chart which focuses on the 4hr timeframe: which is very well laid out. Above you can see on my 1 day chart however that this pattern can easily be applied to more zoomed out starting with the Adam bottom from February 6th and what we are experiencing now and have been since the Adam completed is the Eve Bottom. Should this trend play out on this larger timeframe as I am hypothesizing the upside of it will be much bigger and could take us all the way to 14700 and back into the bull market for Q2. For this Adam and Eve to be Valid though we would have to break somewhere between 10500-11000 depending how many days from now it takes to reach that...I'm thinking we could see something like this as soon as the middle of this month...of course we could always dip lower but probability makes this outcome fairly possible. Of course whichever choice you take, I always usually err on the side of probability while at the same time I stay completely prepared for the exact opposite outcome..You choose your own path however for this is not financial advice. Good luck and thanks for reading!
COINBASE:BTCUSDLong
by DrDovetail
previous bearflag finally breaks down and hits projected target.It was over 36 hours of non stop consolidation on the last bear flag, doji after doji after doji, morphing at times into a descending wedge, a diamond bottom, and threatening to be an eve shoulder of an adam and eve double bottom, but after 9 4 hour candles of consolidation, it finally returned back into a standard bear flag and broke down to the projected target almost exactly. One of the obstacles that took it so long to do so was the 23.60% fibonacci retracement line(in red) That line was tested again and again and again and just refused to submit....acting as support for hours and hours before finally caving and the flood gates opening. It has now been flipped to just as strong of a resistance line which is a very bad sign for the bulls and the chance of us returning above it before more downside is experienced. It also has now overlapped with the t line which was providing just as stubborn of resistance during the last bear flag and continues to be that level of resistance. Here I am showing the 1hr chart because I think it shows the flags slightly more clearly, but it is important to note that on the 4hr chart, we still have not established a higher low than the last low we had on back on April 1st. I find it hard to believe we would fall back down this close to that low and somehow still create a higher low so I'd say probability highly favors either a new lower low after this current bear flag that has a projected drop of $6264....or we trigger a double bottom with the low on April 1st and then finally shoot upward from there. If we achieve a lower low, the next chance for a rebound will be the psychological support of 6,000 and just under that at $5942 a chance to trigger a massive double bottom with february 6ths low. If we do dip down that low, we will need to trigger a big rebound quickly otherwise we could close under a massive head and shoulders pattern which if triggered has the potential to send us down to $3,000 or even lower which would be bad for the market and could potentially cause the entire year of 2018 to be a bear market. I'm still optimistic in a bullish 2nd quarter so I'm hoping we trigger one of these potential double bottoms...but for now I remain short and will likely limit buy most of my position back just above the psychological support of 6,000 to play it safe...and ladder in more to the position just above each significant line of support under that we might reach. You of course choose your own path though as this is not financial advice. Good luck, ad thanks for reading!
BITFINEX:BTCUSDShort
by DrDovetail
3
Bearflag drop reached the exact amount predicted; more downsideWelcome back to another episode of Bearflag after Bearflag. You can see the projected drop of the last bear flag on the 1hr chart hit its target pwith exact precision. The charts are scary accurate sometimes...and now that it has hit its target it has once again gone into consolidation mode and started forming another clear bear flag that can be seen very well on the 1hr and the 4hr charts This current one seems just as likely to continue the downtrend and has a projected fall target of just above 6500 at 6507. It will be interesting to see if it too achieves its projected target to the exact amount, but it wouldn't surprise me if it does...After we get there we may see a bounce that will likely have little volume to go with it and no sustainability and then fall some more but I think probability favors the downtrend still for now...I will put a small limit buy in at 6516 and then save my bigger limit buy for 6021. You of course choose your own path because this is not financial advice, Just a declaration of what I intend to do. Stay safe out there bulls let's somehow turn this thing around at the double bottom, if not we may rech 4000s and even 3000s I still have hope for the double bottom...but there's always a possibility the biggest whales may try to cut us all off at the pass before we even hti double bottom. I try to remain optimistic that double bottom is the real bottom but if I get it wrong and it goes lower I will simply start laddering in just above ey support zones...good luck and thanks for reading!
BITFINEX:BTCUSDShort
by DrDovetail
1
Bearpennant trendlines busted; giving way to 1day chart bearflagWell my bear pennant trendlines have now been busted and need to be readjusted....the trend we were being led on as valid as it seemed was not quite a 4hr chart pennant we know now, after neither break up or down generated the breakout a valid pattern would generate... it is instead upon slight readjustments and panning out a bearflag on th 1 day chart...a flag not a pennant....and it is still looking very valid....I realized something else slightly different had to be going on when the close of the last 4 hour candle didn't trigger a big bull impulse. so I tore down the trendlines and zoomed out to the 1 day chart to see that a rather big 1 day bear flag with about the same drop target was in deed playing out very well...so we are still in short mode until we can get over the 7250 mark....and it is still more probable that we will breakdownward from this 1day bear flag than we will break upward from it...meaning the double bottom is still in play. I'm showing the flag on the four hour chart here but you can see it easily without trendlines if you look at it from the day chart and it is playing out like most bear flags tend to play out. For now I remain short...you make your own decisions though as this is not financial advice. Thanks for reading!
BITFINEX:BTCUSDShort
by DrDovetail
Bearpennant breakdown happening like clockwork as I predicted.As you can see the bear pennant I noticed forming 2 days ago while everyone was alreay claiming, "The bottom is already in!" and "We'll never see 7,000 ever again, trust me!" has broken down just like the majority of bear pennants do: Bearishly. Now you can see the price action is dropping at the same angle as the pole of the flag...which I always find rather fascinating when it does that...it will probably diverge from it eventually but for now it's following it to a t. Listed below are 3 potential rebound support zones that I think we could find our rebound on....I'm gonna play it safe and re enter my position just above the blue fibonacci extension 161% support zone at $6021. So I will probably buy back in at $6100. ...I'm still hopiing we trigger a double bottom with the low we had on February 6th which could result in a massive rebound as I have shown the projection target on my chart for something like that. That would keep us from falling to the projected price drop target of the bear flag of $5600...However if we trigger the inverted cup and handle or massive head and shoulder pattern magic poop cannon has been hypothesizing then we could potentially fall as low as sub $3000...however I think if we trigger the double bottom it will skyrocket us back up fast enough that we wont have time to close a confirmation candle in the zone that would trigger the head and shoulder pattern. This is what I'm hoping for. We will see what happens...I think we will tank today and then sometime april 2nd rise like a phoenix, or I guess since it's also Easter.....rise like a Jesus! Happy easter Fool's everyone. Don't let Bitcoin fool you!
BITFINEX:BTCUSDShort
by DrDovetail
Bear Pennant continuing to unfold as I expected; Double bottom?In my last Idea I drew some lines of what I predicted would turn into a rather large bear pennant...and so far it's following the Trendlines I layed out for it precisely. It somewhat amazes me how that can happen...But I have switched the dotted blue lines of the equilateral triangle to solid red and havw added the pole of the bear pennant too that ts now looking exactly like a bear pennant so with that I can give you a downward bullish breakdown price projection target of around $5600. That sounds pretty realistic of an outcome and the probability favors it...however there's a chance that before it has a chance to drop that far, that a potential double bottom could happen when it reached the $5,900-6,000 range which was where we had our low in February. If a double bottom occurs we'd be looking at some huge upward momentum of which I will make a seperateidea following this one focusing more on the double bottom and giving you a more zoomed out perspective on my chart. For now though the bear pennants projected range is $5600 unless its stopped first either by a double bottom around $6,000, or potentially just above that at the blue fibonacci 161% extension line at $6071.90. The body of the candle may close/open at the fib line with a wick dipping down to the double bottom zone and potentially a wick dipping as far down as $5600. Now that there wasn't enough bull volume to sustain the recent climb, The death cross will start to occure on many more exchanges once we close the current 1 day candle in 24 minutes from now. Once that happens, I predict we will be dropping in price most of April Fools day...but I see that death cross carnage as simply cryptos april fool's joke and something like a double bottom happening the very next day to trigger a huge upswing and jumpstart the bull market. I'm still optimistic that Q2 of this year can be a very bullish one that I will be long on, but for now I'm obviously short(temporarily)...you choose to do whatever you see fit though as once again this is in no way financial advice! Thanks for reading and best of luck!
BITFINEX:BTCUSDShort
by DrDovetail
Death Cross Confirmed. Yet so far bullish price action.We have seen a nice bullsih climb so far as the new 1 day candle despite the Death Cross also officially occuring has opened which could be one of 2 things....the anticipation of the Death Cross triggered so much selling leading up to it that by the time it actually got here the bears have been completely exhausted, or that bullish momentum is a bear trap. For now I'm going short, and trying to sell as high on the bull momentuma as I can...I personally believe the death cross will not be nearly as bad as some previous death crosses but my own little theory is we may see a horrible april fools drop only to shoot back up on april 2nd the very next day....I'm thinking a some sort of bearish doomsday crypto april fools scenario is likely, and then on April 2nd we see a huge bull surge which in turn creates a golden cross and kickstarts the market. This is just a theory, who knows whether or not it will pan out...I don't reccomend anyone take this theory as gospel but it would be rather amusing to me if it does pan out that way...so for now I remain temporarily short....we will see if it ends up biting me in the end. I still an ticipate we could drop as low as the low we had in february and create a massive double bottom that would springboard us back into a mega bull run but fornow that is completely hypothetical...and for now I remain shor on the short term...good luck out there.
BITFINEX:BTCUSDShort
by DrDovetail
Ripple (XRP) : All Fractal Cycles CompleteThis shows the 15min chart for XRP, which can be arguably interpreted as a better looking version of BTC's horrible effort with crayons.. It shows the completion of double bottoms throughout all the timescales.. Standard issue double bottoms have one sharp and one rounded side.. These have been misinterpreted as "Head and shoulders", "Tripple Tops" and many more for years.. I'm proposing a new outlook on charting.. There exists only the double bottom and double top.. If you're seeing something else, you're viewing it on the wrong timescale.. There does not seem to be a set structure in terms of which one goes on which side.. In other words, the sharp side and rounded side can alternate by either one being on the left or the right.. Please see the below images of the various other timescales for clarity on what I mean.. It will show the same repetitive pattern for all scales.. The completion of all cycles mean only one thing: BTC is ready to go up, since it too, has completed all the required steps of this 3 month dance.. Happy days..
BITFINEX:XRPUSDLong
by Lezz
5
Still Bearish on BitcoinBitcoin got a nice little pump today. THIS DOES NOT MEAN BTC IS MOONING! A temporary increase in price is a common side effect of previous rapid downfall (the past 5 days). No need to jump on the bitcoin train just yet. If you buy in now you will most likely loose money short term. There still is no major news coming up, nothing to get hyped up about yet. BTC will need a catalyst like that in order to moon. My TA backs my thesis up as well. BTC is not mooning because BTC has not shown any strong patterns that indicate a rise in price on the daily. I believe that bitcoin is still in its decent and we really just have to wait for new all time lows to predict exactly when and where this selloff will stop. There is a possibility BTC will get a double bottom at around 6k, but I doubt that. Even if BTC does stop at 6k, that still means bitcoin will drop down from where its currently at, 8.3k. In the next few hours, we could see BTC ride to the next Fibonacci line at around 8.5k. I believe that bitcoin will stop its rally there because there is previous resistance that it will not overcome with ought massive volume. Anyways, that's my 2 cents on bitcoin today. Hope you enjoyed :)
BITFINEX:BTCUSDShort
by CryptoColm
XMR forming double top on short term rangeDear trading friends, Monero chart have formed a double top pattern on the 1H candle chart : * High volume entry 02th March * Double top at 32898 * Pullback at 30317 While the coin has been quite bullish since March 01th, the bullish trendline was broken (at least briefly). I see a shorting opportunity here in case the double top pattern completes. With an entry zone at 30355, the target would be 27772, stop loss at 30730. Please feel free to comment and let me know if you share this or any other idea :)
XShort
by Greenou