Get started

Double Bottom

BTC - Short-Term Correction | ETH analysis inside!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. As per my last analysis (attached below) the bears took over by breaking the wedge pattern downward and BTC traded lower till the 20k support zone. 18k - 20k is a strong support zone so we will be looking for buy setups on lower timeframes. Knowing that BTC can still dive inside the support zone before trading higher. BTC is forming a minor double bottom pattern, but it is not ready to go yet. For the bulls to take over, to start the minor correction upward, we need a momentum candle close above the blue neckline. Meanwhile, until the buy is activated, BTC would be overall bearish and can still dive inside the 18-20k support zone. Regarding ETH, we can see a very similar pattern. ETH is sitting around the 1450 - 1500 support so for the bulls to take over, we need a momentum candle close above the blue neckline. Meanwhile, the bears can still kick in and break the 1450 downward, in this case, further bearish movements would be expected. Which scenario do you think is more probable and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:BTCUSD
by TheSignalyst
53
2 paths for BTC 1H chart,both long?hi folks.previous idea still going.despite the pattern changing its formation from past idea,our target OR stop has not touched yet.as I told you before,it was a risky trade.if you have opened a long trade like me,you should be in profit.I have 2 suggestions for you : "either save profit now or move stop loss below 20500".but be advised,moving stop loss makes your trade a lot riskier and you should be a master at risk managment to do so! if you have not opened the trade,I think an entry around 20500 would be a good place to go long.but remember,this is still a reversal trade and risky! good luck all!
Long
by NikanShakeri
EUR/USD Double Bottom OR Short Order Block EntryLooking at trading EUR/USD today. We have a potential double bottom formation on the 4-hour chart. Remember, we are currently at major major support levels. The fact that the euro is less than one to one with the dollar is incredibly unsettling. So, we know that we have a major fight currently happening between the bears and the bulls. I have highlighted the neckline in yellow and I would like to see strong volume show up to accompany a close above this zone. We can also see that we are currently sitting against a descending trend line and it is very possible that we could bounce off of this region, get rejected, and carry on lower. There is also an order block that we have currently pierced that could give us a target of 1 / 8 Risk to reward if we were shorting. So there's one awesome opportunity. However, if we were looking for a long setup, we have the full divergence across the MACD histogram as well as the MA lines which dd confluence to the setup. We just need that volume to show up. Once we see a close above the neckline zone, I would be waiting for a retrace back into the neckline zone, which would coincide nicely with flipping the trend line to support resistance. This would trigger a long entry with two targets up above. Target number one would be the 1.01 price level. Target number two would be the 1.02 price level. Remember, going long right now is trading counter-trend. We must be certain and need all the stars to align in our bag of rules and criteria. I also would not risk my usual amount on a counter-trend position. Let's keep an eye out and watch what happens. Hope you all have a great day
Long
by TheVortexTrader
EOS Update - May visit 2.08 and TOPI have reduced my leverage and will be adding more shorts at around 2.08, with Stop Losses over 2.12+ This is the DOUBLE BOTTOM profit target for Longs. IMPORTANT: ****I am only thinking it will make it this far now, because of how Bitcoin and other altcoins look.**** The market has changed today, which has changed my mind about EOS top. To me, I think we will see a big scam push up in the next 2-3 days, and then after that the big drop begins (BTC towards 18.5k area) It would be foolish to think EOS will stand still where it is without finishing its double bottom profit target, considering how the overall market looks scammy pumpy currently.
Short
by reiiss7
3
First bounce with valid RSI support First, this is not entirely my idea. Someone posted it in chat, and then deleted it immediately and then I couldn't find them or their chart. But I saw it long enough to get the picture. The 3 bounces prior to this one since $17.8, have all crossed over above 30 on the RSI, on the 4 hour. Generally those aren't oversold enough conditions to make significant impact. This one is different however, as you can see it crossed below the 30, and that's a bullish signal. Couple that with the double bottom and it makes for a compelling case for a strong rally to the upside. In any case, I'm staying cautious, leaning a bit bullish. Will place some longs if we can get clean above $21,500. But they will be tightly controlled as things are tricky to read right now. There are other indicators working against BTC too of course. Zoomed in, the chart actually shows a triple bottom forming on the 15m, which is like a double bottom, but more specifically a reversal signal. Regardless of all of this, the chart zoomed out, at a glance, looks quite sketchy, IMO, but I still think we go to low $22k.
Long
by D-Rock_Anomaly
2
Textbook Double Bottom If we're going to reverse this trend in the short term, I'd wager that this double bottom is a good potential spot for it to happen, and it might take us to the heavy resistance zone in the low 23k range. This is just a short term idea for the next 12-24 hours or so, not a prediction of an overall trend reversal to the upside, I think a revisit ~$18k is easily possible... But it's a tricky market to read right now, it's very split. I like simple ideas in times like these.
Long
by D-Rock_Anomaly
$EQNR is breaking out of its base with a Pocket Pivot!Notes: * Very strong up trend on all time frames * Good earnings in the recent quarters * Created a double bottom base for ~5 months and is now breaking out with higher than average volume * Not much else to say... it's a great looking chart ;) Technicals: Sector: Energy - Oil & Gas Integrated Relative Strength vs. Sector: 6.09 Relative Strength vs. SP500: 1.64 U/D Ratio: 1.17 Base Depth: 22.23% Distance from breakout buy point: 0.44% Volume 31.67% above its 15 day avg. Trade Idea: * You can get in now (at $38.44) as the price is just breaking out * If you want a better entry you can look for one around the 37.7 area if it comes back down * Right now it does seem to be gaping up so I wouldn't chase the price... Lets see how it behaves after the gap up and offers another entry * This stock usually has local tops when the price closes around 15.28% above its 50 EMA * Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA * The last closing price is 7.64% away from its 50 EMA
NYSE:EQNRLong
by HaseebKhan_90
BTC/USDT - 1H - Bullish ReversalBTC/USDT has been in a bearish trend. The price action has bounced off an important Support Zone that seems to have caused a bullish reversal. The Bullish Bias is based on the following signals: Price has stopped making LHs and LLs Double bottom at support with neckline breakout GMMA: Slow and Fast MA crossover Falling Resistance breakout with bullish hammers Bullish divergence on RSI + strength over 50 and not too near overbought levels OBV convergence with price (uptrend has conviction) Expecting bulls to be in control and take price towards the Resistance Zone .
Long
by yo_zubair
2
BTC LTF UPDATE! DOUBLE BOTTOM!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC quick update. BTC looks good in ltf. Currently, trading around $21.3k level and it is forming a double bottom pattern at $20.8k level which is generally a bullish pattern. There is some resistance at $21.5k level. Once BTC breaks above $21.5k level then we might see a good rally up to $22.8k level. Invalidation level:- Any hourly candle close below $20.8k 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
8
BTC/USDT : Possible double bottom!BINANCE:BTCUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $BTC has reached the local lows that formed a double bottom in July 2022 and caused the second rush above $24000. Now, There can be a mini fractal out our last double bottom and cause another rush based on correction of the local bearish basement we have before the drop! So, In this case, We need another rejection attempt below/near $20750 to form the Double bottom or QM pattern with a bullish convergence into RSI. If this happens, Then I'll set my trigger to locate my Long as $BTC gets closings above $21450. Stop-loos after trigger and the scenarios Invalidation, Both should be a Close below the Grey zone, Which has been announced as an S/R zone from early July! Anyway, If we get caught on Stop-loss/Invalidation, Then I'll be looking forward to locating my Short once $BTC gets below the lower bullish order-block at $19900 - 19600. 📝 We have made 12% on $BTC's short and 10% on $ETH's short. So taking Profits and waiting for new triggers won't leave us behind the market's trend 😉 Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
4