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Doublebottomreversal

Double-Bottom Reversal in $AE Aeternity$AE Aeternity is quietly bouncing off of a double-bottom on the 1- and 3-day candlestick closes. The prudent thing to do is wait for the daily candle to close and await more confirmation. However since many alts in $BTC pairings are painting possible bottom reversal patterns this seems like a valid risk to take now. It also aligns with the apex of a falling wedge. I'd like to see more volume as confirmation of a breakout if this is the real deal. I've started a long entry now but will watch this as double-bottoms usually take on a more rounded formation than the sharper 1st bottom. Target is 2700 sats: the previous peak in-between the 100-day troughs.
ALong
by gumbyguy
ETHOS rebranding to Voyager - Huge potential!ETHOS $BQX is rebranding to Voyager $VGX a new up and coming fee free trading app, check out below for referral link to get $25 back in BTC -- Even before the fundamentals, you have a double bottom and a giant bull div with huge volume coming in on the daily. The 3 day RSI has never broken the down trend line, ever. This goes back to January of 2018. If it breaks and re-tests, you're probably looking at the highest target. Use code GUX1S1 or this link to claim your BTC: go.onelink.me
BLong
by mlotis
BTCUSD D1 chart (8/5/2019)Good morning, traders. Bitcoin has continued pushing higher this past weekend, ultimately marking $11860 on Coinbase before stalling out in supply. This is also the flag resistance and the median of the Andrews Pitchfork pulled from the July 17th swing low, July 20th swing high, and July 28th swing low. A pullback at this point shouldn't surprise anyone, but if we want the double bottom target to remain valid, then we don't want to see it break below the blue zone. However, price does not HAVE to pullback at this time. The H1 Stoch RSI has already reset more than 50% and the H4 Stoch RSI, while high, still has room to continue higher before attempting a reset. The target based on the height of the descending wedge is $13465 while the Adam and Eve double bottom target is $13150. The D3 and weekly charts appear to have confirmed their 2-month-long hidden bullish divergence with both TFs having a lot of room to run, comparatively, in their RSI and Stoch RSI. The weekly candle closed extremely bullishly, engulfing the previous two and a half weeks worth of candles. Price has moved bullishly above the daily pivot. Stoch RSI is topped out on the daily but, as we know, can remain that way for a while as price continues to push higher. Daily RSI is only at 64, so it has a lot of room to run. While daily volume isn't significant in comparison to what was seen at the beginning of this corrective leg, it is expanding relative to where it was prior to this move up and candle spread is increasing, which is what we want to see. Our premium Discord members now have access to our trading basics course included with their membership! We continue to add more content for new traders to learn how to be more effective and consistent when trading the market. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
15
XBTUSD H1 chart (7/29/2019)Good morning, traders. Things got interesting near yesterday's close with price dropping and then rocketing back up. This was a very strong reaction out of demand at $9100 following a low volume sell off. As a matter of fact, that pop up had the largest M30 volume that we have seen since July 18th and the swing low nearly found the July 17th swing low. This led to a large, $650 spread long-legged doji printing on the H4 and a slightly larger-bodied doji on the D1. Normally, in such a case, we would expect price to ultimately continue higher. With price finding support at the M15 pivot this morning, this is what we are going to watch for now but we have to keep in mind that we are still seeing decreasing daily volume. Until we see expanding daily volume coupled with expanding candle spread, there is no guarantee of either direction. In printing this swing low yesterday, price has potentially set up an Adam and Eve double bottom. A close above the swing high of $11132 would confirm this and set up a target of $13180 based on the height of the double bottom. The W1 printed tweezer bottoms which generally leads to a reversal to the upside, however H4 and H6 RSI haven't yet closed above their descending resistances yet. As I have been mentioning since last week, these are the main indicators I am watching for confirmation of a possible reversal to the upside. The D3 is still printing that hidden bullish divergence that we've been watching for a while now, so it has not been confirmed yet. But we also have the W1 printing hidden bullish divergence as well, and if this week closes higher, then we could see the confirmation on both TFs. Why might this week close higher in spite of all the bearishness running rampant on CT, TV, and YT? The FOMC is expected to lower interest rates this week. That will weaken the dollar and, as a result, anything valued against the dollar (all things held equal) should see a rise in that value. But first things first, price needs to close above the H1/H4 pivot at $9775, and in order to do that it needs to close above the H1 21 EMA which it is currently banging against. This will pull the H1 and H4 RSI's above their resistance which should indicate continued demand pressure. I have noted a few diagonal support and resistance levels to watch. If price makes it through the grey demand zone then I will first be looking for it to bounce off the S1 pivot just below $8860. Beyond that, I will watch for a bounce off the descending red support line. So nothing has really changed from last week. All this short term movement between $9100 and $10300 remains noise. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
BITMEX:BTCUSD.P
by Chris_Inks
1
XVG Verge Historical Double Bottom Massive Bounce or Doom?Verge's luster has kind of worn off over the past few months (to say the least). But that does not mean it doesn't have the capability to make us money. It's currently right around its historic 1.5 year low of 53 satoshis, going back to December of 2017. On the weekly, its RSI is in the oversold levels hovering around 29.3. Lower time frames show potential bullish reversal signals (constricting ema's, long sideways movement). If you're feeling froggy, entry can be made between 53 and 60 satoshis. Stop loss at 46 satoshis. This could have some massive short term potential...if interest sparks. Good luck and happy trading!
XLong
by ninjacookies
2
BTCUSD 1H chart (6/7/2019) BULLISHGood morning, traders. I mentioned that I was cautious yesterday pending the outcome of the local TR. I said that we needed to see demand volume increasing, especially as price pushed through the descending blue resistance to signal a likely reversal, and we did. Price attempted to print a Spring on Bitstamp, but was not able to do so (price remained above the bottom of the TR support). Bitfinex actually saw price print the Spring. In both cases, the supply volume was lower when compared to the supply volume coming into the TR. This lower supply participation in this area was a great signal to initiate a long. Confirming the reversal is the expanding demand volume and growing candle spread as price has risen from that point. As a result, price has printed an SOS, is currently retesting the TR resistance as support, and will be looking for the $8175/$8200 level I believe. This will put price right into that overhead supply and at the descending channel resistance where we should look for a rejection and pullback before price pushes through the descending channel resistance. Based on the height of the channel, we should expect price to target the $9300 level. If we see price getting to that point, then I am inclined to believe that it will only be subwave 1 of subwave 3 of wave 5. Remember, I am operating under the assumption that the recent drop was a subwave 2 simple ABC correction. Taking a look at price action another way, price is currently confirming the double bottom that it printed as it tests the peak of that pattern as support. The target based on the height of the double bottom is $8413 on Bitstamp. This necessarily will push price through the descending channel resistance which sets up the ~$9300 target mentioned earlier. As we can see, price is also printing a flag with a target of the ~$8200 area, also mentioned above, based on the height of the flagpole. The red line that price was rejected at a few hours ago before retesting resistance as support is the weekly/monthly pivot. In terms of the 1H pivots, we can see that the immediate targets are at the S1 pivot with the larger channel target at the R1 pivot. Finally, the daily 21 EMA is currently sitting just overhead at $7940. Price continuing to head above that EMA, the monthly pivot, and the 1H pivot is all bullish. Therefore, while nothing is ever guaranteed in the charts, things look a lot more bullish than bearish at this time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDLong
by Chris_Inks
1
CL1!: Watch for the reboundCL1! has completed the stretch price objective for a channel breakdown at 1.382x. This price objective also ties in with an ABCD completion from the Apr peak. You can see CL1! has formed a double bottom on high volumes and price action has broken a new SSR level on the upside. Normally on a breakdown or break-up, we would expect to see a retest of the previous support/resistance. In this case, a potential retest would be the $61.20 level which coincides with the 61.8% retracement level.
NYMEX:CL1!Long
by WellTrainedMonkey
ETHUSD - Double Bottom, Or Top?Bulls may have gained the EMA 12 , 26 , and broken a minor downtrend line , but the Bears have MA 50 , 100 , and with backing by a large downtrend line . MA 100 is settling right atop the down trend line from September , and recent price action just saw MA 50 act quite quick with profit taking. While a minor double bottom reversal may have formed near $100, there is stiff double top action positioned. Some real upward momentum is going to be needed to overcome these Bear defense lines. To fail here would invite another $80 retest, and perhaps a firm double bottom reversal, one with enough momentum. However, a 'Chink in the Armor' here would certainly soften things up a bit. The next few days will tell tales. Good Luck, Traders. May you find yourself on the correct side of it.
BITFINEX:ETHUSD
by MrJEB
Coast Clear to Long FBLong Facebook I don't have fancy charts but the recent candlestick chart is clear that Facebook had completed its double bottom reversal to turn bullish. This is confirmed when Facebook went above $171 today in a continuation of the bullish pattern. Facebook also announced superb results despite the negative privacy news about it. Finally, it would appear that the political issues (shutdown, trade wars) and hawkish Fed had all cleared the horizon. My opinion is that the coast is clear for good shares to shine in Feb 2019 after the sharp downturn in the last quarter of 2018 and the recovery on Jan 2019. Sure, there are worries about slowing Chinese growth and there will be political fights over the wall but it is unlikely to slow down the recovery and the general recovery theme.
NASDAQ:METALong
by kailevel