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Doublebottomreversal

$AMC $33 Double Bottom and then $53? Unlikely or Reasonable? This probably my last AMC publish article for this month. I don't believe in fractal theory. But If $AMC hits $33 and bounces off quickly to $40 again. It confirms two things. 1. $33 is the next double bottom. It becomes the new high lows. ($28 was the last double bottom before we hit $53 and fall down.) Along with completing the 3 drop of the falling wedge. 2. $44 is the resistance line. If we break out $44 resistance line one more time. The symmetrical of AMC is then completed. No need to search to $53 to break out. *Bulls institution bought AMC shares around $33 Quick summary of historical data chart of AMC based on the Daily Chart AMC fell from $14.54 on March 18th. April 14th 2021 AMC bottoms around $8-9. AMC meets resistance level all high at $12 on April 27th 2021. This is the resistance. AMC was smack down to $8-9 again on May 6th. This is the double bottom. AMC gain green candle to $10 at May 13th AMC meet around $14 at May 18th and drops AMC consolidate gain a new support line $12 at May 19th-21th AMC then surge from May 25th to June 2nd from $14 to $72 AMC dips $72 all to $28 in August AMC gain a higher low of $28 when it double bottoms AMC surge to $53 on September 13th AMC smack down to $33 on September 30th. $33 became new high low? AMC surge to $44 on October 19th AMC dips to $36 on October 22nd So yeah this is a mixture of technical analysis and theory. But I tried to refrain from theorizing and speculating. Do I believe it? Probably not. Will it play? Probably not. This is only base on historical chart of falling wedge, and double bottoms of AMC play out beginning this year.
NYSE:AMC
by gojira91
3
$PTONIn its most recent quarter, Peloton reported 2.3 million connected fitness subscribers. These members purchased a Peloton exercise machine and paid $39.99 per month to access Peloton's live and recorded exercise classes. Overall, subscription revenue totaled $281 million in the fourth quarter. Compare that to Peloton's total revenue of $936 million in the quarter, and it shows the bulk of its sales come from products. That could be a challenge for the company because the products it sells can last for several years. That means once Peloton saturates its total addressable market -- estimated by management at 75 million households -- its sales could drop off significantly. Peloton would then have to rely on existing customers upgrading older machines every few years. The good news is that the subscription side of the business will bring in recurring revenue at higher margins. Indeed, the gross profit margin of the subscription business was 63.3% in the latest quarter compared with 56.8% a year earlier. And there is the potential to increase prices on subscribers over time as the company adds content. There is also the potential to improve the gross margin on the subscription segment as Peloton adds more members. The cost of creating the content will be roughly the same, but it will be spread out over a larger audience.  Peloton has taken a big hit over the past month moving from $112 down to the mid $80s but in saying that, It looks like it’s found some support on the daily chart. Whether it will hold or not, that’s another question. Only time will tell. Going into next week this should be on watchlist. If price is able to hold it gives a good opportunity for a long but if it breaks below support, it also gives a good opportunity to go short. Keep your eyes on this one. Watchlist this.
NASDAQ:PTONLong
by TheBlankFund
GBPUSD double bottom 🦐GBPUSD on the daily chart creates a double bottom over the weekly support. The price is now moving back to the upper trendline and according to Plancton's strategy if the pair will be able to break above the static resistance structure we will set a nice long order. ------ Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
17
QCOM made a double bottom and is now looking to break!QCOM has been doing well fundamentally with its sales growth more than 30% quarter-over-quarter. Technically it's on a clear up-trend and just recently had a nice pull-back. Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break. What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in. Thoughts: * QCOM made a double bottom and is now looking to break * The double bottom will be confirmed if the price breaks and closes above 144.10. * The measured objective of the pattern would be close to its all-time-highs. Trade idea: * Wait for a confirmation of the pattern i.e. wait for a close above $144.10
NASDAQ:QCOMLong
by HaseebKhan_90
What is Double Bottom Pattern?What is Double Bottom Pattern? The double bottom pattern looks like the letter "W". It indicates an trend and momentum reversal in a particular asset. It is best for analyzing the intermediate to longer-term view of a market. Double Bottom Pattern one of the most reliable reversal pattern after Head and Shoulders Pattern. How does Double Bottom Pattern Work? Double Bottom Pattern works in two phases: Phase 1: When the major trend is downtrend and forms the first down peak, then from the support the prices bounce to a new higher resistance and unable to break that resistance. Phase 2: When prices are not able to break the resistance it again goes to the same level and take support form similar levels forming second down peak also double bottom. Again due to demand the prices rises up to the resistance and break that resistance. Increase in volumes during breakouts further confirms the reversal move. This marks the completion of the pattern. Above Chart Explanation: This is the daily chart of EGLDUSDT here we can see in a downtrend prices take support and forms a down peak one and took support form there and bounce back to the above resistance. But prices were not able to break it instead prices got rejection from resistance and the prices again go down forming second down peak. After taking support prices bounces and break resistance due to heavy demand with great volumes. Usually traders enter on the breakouts and target the next resistance. Conclusion: Hence, the Double Bottom Pattern is great reversal pattern after Head and Shoulders Pattern. And it occurs quite often. Most of the traders use it on large time frames like 1D, 1W, 1M. Please let me know in the comments what do you think about Double Bottom Chart Pattern! Disclaimer: This is just an educational post never trade just any pattern. And please do your research before taking any trades.
Education
by Coinlog
2
PETRONET LNGA Bullish Harmonic AB=CD reversal was met by a slanting trend-line resistance which lead to a dip towards 88% retracement with the likelihood of a double bottom activating a Bullish Harmonic Shark. This up move can go till 225/235/255 as long as it does not break the lower base formed when the AB=CD was made. Harmonic Patterns are based on Fibonacci ratios which conform to specific alignments. They are among the fastest to give reversal signals unlike oscillator based systems.
NSE:PETRONETLong
by Dinesh_C_Nagpal
1
Double Bottom Is In FET/BTC #FET $FET #FetchAIHere we see our FET daily chart from Bitfinex . You can see we have had a Double Bottom ! That China miner's shut-off seemed to cause a slump in the whole market.And it definitely caused what appeared to be our Bullish Inverse Head & Shoulders pattern to fizzle out a bit at the end and form instead the Double Bottom you see now on FET . But this is a good pattern ! So don't lose hope! It's target should be the 1800/1900 area marked with a green X on the chart above. You can see our 550 bottom from a month ago ? And now last night we wicked very close to it (doesn't have to be exact but within 3% of our previous bottom and we have a Double Bottom !) And we wicked to within 18 sats of the previous bottom last night and that's about 3% from our last bottom so the Double Bottom is in !! Target of the Double Bottom will be the distance from the bottom to the neckline -once we break over the neckline - should pump the same amount up at least over the neckline ( to where that green X is on the chart . ) That would put our target on this Bitfinex chart at about 1800 but on the Binance chart the neckline is just a little bit higher and so the target would be around 1900 ! Great stuff ! I would love to see these numbers come in this Summer ! Also I'd like to say a word about being flexible and not giving up hope . This market is volatile ! And it can change quickly. Especially in a Bullrun year. But wild swings is what gives the Crypto market it's great profit potential and it's why we're here . So be prepared ! Have a Trading Plan ! And have an idea of where you would like to enter and exit . I'm here for the long haul and I have great hope for this Bullrun so I'm not going anywhere but if you are noob it may be easy to lose hope when you see the market pulling back. Just understand that wild swings are normal in a Bullrun year and we should see our FET well over 5400 sats by end of year , imo.
by shimmeringpath
3
COMP-USDT(Double Bottom)An open-sourced decentralized finance protocol built on the Ethereum blockchain that has currently locked in ~$7.38 Bn in its protocol. From its All-Time High, COMP too crashed ~70% and is currently trading at $420. It has currently taken support from the level of $350 and it looks like it is forming a Double bottom kind of formation, further downside seems unlikely. The support to the lower side is present at $280 while it is possible to achieve $550.
Long
by TradeDog-Research