Get started

Double Bottom

ARBITRUM DOUBLE BOTTOMThis article is pure technical analysis. BINANCE:ARBUSDT is showing a double bottom pattern, indicating a potential bullish movement. But first, pay attention to its past price movement that led to a bullish movement of the coin, ARB had a multi-month trendline breakout. Through this trendline below there were multiple instances of resistance (highlighted in red) from the all-time high. As of this writing, the neckline is still showing its firmness as the price attempts to breakout after hitting it momentarily. This firmness is presented on this chart below through back testing procedure wherein we see instances of it being most as resistance line and support at times. For an intraday perspective, we have to wait for a confirmation for either breakout or breakdown plays. If a breakdown happens, I plotted some trendlines for a possible take profit areas by using basic support and resistance with backtesting. $1.0121 and $1.0619 will be my take profit areas to consider. On the other hand, I plotted a diagonal trendline support, when a massive sell confirms potentially could lead to reversal. Also, consider the MACD indicator in a 4-hour timeframe if MACD crosses along with weakening of the buying pressure that could lead to a reversal. BULL or BEAR: Still BULLISH considering market on a consolidation phase from the massive pump that happened days ago. Let's give the market the time to recover :) I'll give time to update the movement for this coin. Overall, scalp if you want to trade this coin and wait for those scenarios that I mentioned for intraday trade. Follow me on this platform for more market pattern ideas like this. I appreciate the support. Always PLAN your trades and happy trading!
Long
by Habadoo
XRPUSD working on a horizontal channel breakout. Not a sure thing that the breakout will confirm here, always a chance it could correct back inside the channel once or possibly even twice before triggering the real breakout, though of course the current move could easiy be the breakout. Either way sooner rather than alter the breakout should be official and once that happens the target will be around 63-64 cents. For now the current bullish impulse looks very convincing. If it can maintain solid support on the top trendline of the channel then we will almost certainly see the recent deathcross be uncrossed and confirmed a fakeout. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
SHR/USDT finally reaches its bottomSharering has just announced some massive news, namely that they have been certified as a digital identity services provider in the UK, which means they are now able to offer their digital identity solution for labd registry purposes in the UK. In other words, they have essentially partnered up with the UK government. cointelegraph.com We are talking about a coin with currently a $3.5m marketcap. This news comes right as the chart has formed a perfect double bottom pattern on the weekly, and is sitting near the all time low. I think buying SHR right now carries relatively low risk for how small of a marketcap the coin has, because it is already completely bottomed out, and once people catch a glimpse of this news and the chart, they will for sure feel some FOMO. The only thing currently preventing this coin from starting the inevitable moonshot, is the fact that this news is going completely under the radar and nobody is talking about it. Once this chart starts to take off, there is some huge potential profit to be made. A 10x could just be the beginning.
Long
by jariii
GBPUSD | Perspective for the new week | Follow-upDespite a setback in UK Retail Sales last Friday, where September's retailers' receipts fell by -0.9% against the expected -0.1%, the Pound Sterling is finding its footing amidst a weakening US Dollar (USD). As it finds demand around the $1.21000 area; the GBPUSD pair is capitalizing on the current market conditions, aiming to secure gains in the face of global uncertainties. Looking ahead, market enthusiasts are eyeing Tuesday's UK Labor and Purchasing Manager Index (PMI) figures. Forecasts suggest a decline of 198K job additions in August, a slight improvement from July's -207K. Additionally, there is optimism for an uptick in the UK preliminary PMI, with the PMI Composite expected to print at 48.8, compared to the previous 48.5. Federal Reserve (Fed) Chairman Jerome Powell's recent comments regarding significant tightening in financial conditions, particularly with higher bond yields, might influence policy decisions, potentially weakening the US Dollar. However, it's essential to acknowledge the ongoing Israel-Hamas conflict, which could prompt investors to seek refuge in safe-haven assets, possibly bolstering the USD against its counterparts. As we step into the new week, we approach the market with flexibility, keeping our strategies adaptable to changing scenarios. GBPUSD Technical Analysis: Will the pound find solid support at the $1.2000/$1.18000 zone, or are we heading towards a potential breakdown and a possible sell-off? The stakes are high, and we're on the edge of our seats! The spotlight is on high-impact economic events from both the US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities. In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure. Keep a close eye on that critical confluence at $1.21800. It's a decisive moment where both sellers and buyers are vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days. Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading! Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results
by darcsherry
2
$DYDX : Cultivating Opportunity: An In-Depth AnalysisA comprehensive analysis of CRYPTOCAP:DYDX , presently valued at $2.36 as of the current writing, unveils a series of significant patterns and indicators. Most notably, an intricate Triple + Double bottom formation has materialized, complemented by a consistent series of ascending peaks and troughs in the Relative Strength Index (RSI). This steadfast progression is further underscored by the multitude of price interactions with resistance thresholds. Contextualized within the backdrop of Bitcoin's lateral or ascending movement, discernible price milestones come into focus, including $2.92, $3.70, and $4.52. Beyond these intermediate benchmarks, the prospect of a substantial surge, potentially reaching $6, emerges as a distinct possibility. #NFA
BINANCE:DYDXUSDLong
by UnknownUnicorn3237473
Neo - Fractal Double Bottom Pattern 📈Déjà Vu: A Tale of Double Bottom Resonance Neo, much like Bitcoin and other digital assets, knows how to repeat history. In 2020, it showcased a double bottom pattern, and its evolution bears a striking resemblance to what we are witnessing today. The Setup: An Intricate Dance of Market Forces A double bottom pattern is no mere coincidence; it often involves market manipulation. The first leg of the pattern involves a substantial drop, catching many off guard. Then, as if by design, a lower low lures in more traders. The Thrilling Twist: A Prelude to Growth While the lower low may instill doubt, it's a setup for a dramatic turnaround. Just as in 2020, when Neo finally started its ascent, this pattern could serve as a prelude to a new bullish cycle. Trading Perspective: Learning from Neo's Echo Crypto traders can glean valuable insights from Neo's historical performance. Identifying patterns like these can better prepare them to navigate market fluctuations and seize opportunities. Conclusion: A Pattern with Purpose History has a way of echoing in the cryptocurrency realm. Neo's 2020 journey teaches us the value of recognizing patterns like the double bottom, shedding light on possible trends on the horizon. 📉 Double Bottom Patterns | 📊 Market Manipulation | 🚀 Bullish Cycles | 🧭 Trading Insights ❗See related ideas below❗ Feel free to share your thoughts in the comments! 💚📈💚
Long
by Yaroslav_Krasko
PancakeSwap CAKE - The Road to $150PancakeSwap is the place you trust when it comes to swapping your AltCoins. Its symbol: CAKE ( CAKEUSD , CAKEBUSD , CAKEUSDT ). If you take a look at this one, it's a no-brainer. Things are looking up. Although the Crypto Markets have been smashed lately, the Sun will shine on almost all projects. And I intend to be ready. Got myself a portfolio and adding gently to it on most big dips. HODLing requires patience, but time passes anyway, so might as well do something with it. My next buying point is: $1.2 . So, let's ramp things up with some awesome CAKE Trade Idea. CAKEBUSD Technical Analysis: * Elliott Wave Impulse: Cycle a (white) * A-B-C Elliott Wave Correction: Primary A-B-C (red) * Ending Diagonal in Primary C (red) * Bullish Divergence * 88.6% Fibonacci Retracement * 61.8% Fibonacci Extension of Primary A &B (red) * Demand Zone * Double Bottom Early '23 I'm expecting a start of a greater cycle. Good luck HODLers!
CLong
by EW4X
📈 ARB: 2-Day Double Bottom - Descending Triangle 🚨 Attention traders, we've got an exciting chart setup on ARB! A 2-day double bottom pattern is forming, with a descending triangle on the horizon. It's time to craft a trading plan for potential breakouts. Chart Analysis: Pair: ARB Timeframe: 2-Day Key Observations: Double Bottom: The ARB chart shows a clear double bottom pattern, indicating a potential reversal. 📉📈 Descending Triangle: A descending triangle has formed, suggesting a period of consolidation. 📉🔼 Support and Resistance: The recent double bottom acts as a significant support level. We aim for an upside breakout with resistance at the All-Time High (ATH) around $2. 📊🧩 Trading Plan: Entry: Consider entering a long position when the price breaks above the upper boundary of the descending triangle. Ensure this breakout is confirmed with strong volume. 🚀📊 Stop Loss: Set a stop loss just below the support level of the double bottom pattern to manage risk effectively. 🛡️⛔ Take Profit Targets: First Target: Around $2, which is the ATH. This level could act as resistance, so consider taking some profits here. 💰💼 Second Target: Beyond ATH, consider letting a portion of your position run in case of a price discovery phase. 🎯📈 Price Discovery Targets: In a bullish scenario where ARB experiences price discovery, we could see the price surge toward $20. This is a speculative but exciting target, and you may consider trailing your stop loss to protect gains. Risk Management: As with any crypto trade, remember that the market is volatile. Only invest what you can afford to lose and employ proper risk management strategies, including setting stop-loss orders. Disclaimer: This is not financial advice. Always do your research and consider consulting with a financial advisor before making any trading decisions. Keep a close eye on ARB as it approaches the apex of the descending triangle. Potential breakouts could be just around the corner. Happy trading, and may the markets be in your favor! 🚀💹 Note: TradingView posts are for educational and informational purposes only. Always conduct your research and use proper risk management when trading cryptocurrencies. 📚🔍
Long
by STP_MrNodeItAll
Algo ready for trend change(bullish)Okay,I know we all been watching the steady downtrend of EURONEXT:ALGO for a very long time but hear me out, I think its finally time it starts to pop off. Monthly has reached a strong support zone. Multiple candles rejecting. Higher time frames showing clear rejections where price has finally made the same low. Double bottom formation. For ideal traders, I will wait for a break out and retest. I'm personally adding positions here with a long sl. Will keep you all updated. Best wishes to everyone!
Long
by KidCrypto_
1