Get started

Double Top

Re-test of Rising Wedge Breakdown May Signal TopIf Bitcoin is unable to get above the bottom of this long-term rising wedge, the top may be in when it fails to reclaim it upon re-test. It could still go as high as 85-106k, or even higher the longer it takes to reach wedge bottom. Given this turns out to be true, when this top is finally in we may see the deepest and longest correction in Bitcoin's history, targeting 1.5k, or even lower. This could also be considered the makings of a double-top with a higher 2nd high, very similar to the structure of the previous ATH's double-top, but repeated on a larger scale. We may also see two attempts to re-test, just as we saw two highs last time. A possible secondary signal that this is the likely scenario that will occur may be if the US Dollar Index continues up above its fall of 2022 highs: Best of luck with your analyses and trading, and I hope you've found some valuable insight in the ideas we share together here.
BNC:BLX
by dudebruhwhoa
OM - SHORT opportunity | RSI Divergence#OM/USDT #Analysis Description --------------------------------------------------------------- + I'm seeing clear RSI divergence pointing towards bearish price trend for the OM/USDT + Also the chart looks like the price has reached double top pattern which is a bearish pattern. + Overall there is a short trade opportunity if we trade carefully. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.3056 Stop Loss: 0.3802 ------------------------------ Target 1: 0.26770 Target 2: 0.24950 Target 3: 0.22281 Target 4: 0.17431 ------------------------------ Timeframe: 1D Capital: 1-2% of trading capital Leverage: 5x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Short
by VectorAlgo
Possible Monthly Double-TopWe could still see a monthly wick up to an area between 82.5k and 100k, drawing bulls in, prior to the March candle close, giving confirmation of new ATHs, suggesting a prolonged bull run. The monthly candle for February still closed at the exact same high as the October and November 2021 monthly candle close and open. If the March candle closes below ~61350, I would start considering that Bitcoin is topping out and may form a monthly double top. DXY moving up towards its September 2022 monthly high, around 112-115 would lend confluence to this idea, as Bitcoin and DXY are macro negatively correlated. Have been talking about this over the last year or so. Note this could happen faster than drawn if DXY turns up hard over the next month or two; getting above 112-115.
INDEX:BTCUSDShort
by dudebruhwhoa
MSTR: Likely To Fall Off Due to Heavy Dilution of ShareholdersMSTR is seen as somewhat of a BTC trust given its BTC holdings, however, over the last few years we've seen MSTR engaging in the obsessive dilution of its shareholders and in recent days it was announced that they would further dilute shareholders in order to buy more BTC at the highs. I see this as being totally against the deflationary limited supply spirit of Bitcoin and in my opinion, MSTR seems to be acting as more of a trap asset for those that are ignorant of Bitcoin itself. As a result of all of this dilution, I would expect MSTR to show weakness at these highs and retrace the majority of the move up it has had in recent weeks. I will also add that dilution of shareholders going into a halving cycle, even if you though 1 share of MSTR represented 1 BTC, now would be a really bad time to be adding more shares given that BTC itself would actually be becoming more scarce during the same period, in many ways MSTR is more like your average Binance Smart Chain Scoin with the potential to add an infinite supply while Bitcoin itself has a fixed supply that can never be increased so all in all I find MSTR to be a very bad, misleading, and dangerous way to get Bitcoin exposure. My preferred positioning on MSTR would be bear call spreads or bear put spreads, depending on the deals, I may choose one or the other or both.
NASDAQ:MSTRShort
by RizeSenpai
9
GOLD - Wait For It ⏱Hello TradingView Family / Fellow Traders, On Daily: Left Chart GOLD has been bullish trading within the flat channel in blue and it is currently hovering around the upper bound. On M30: Right Chart 📈 For the bears to take over, we need a momentum candle close below the last major low highlighted in gray. 📉 Meanwhile, XAUUSD would be bullish short-term and can still trade higher to test the $2100. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
OANDA:XAUUSD
by TheSignalyst
3
Mr. Double Top is that you?Following a contracting triangle breakout today, NIFTY zoomed up with a fair amount of pull backs which denote more than just a regular retracement. Over a larger time frame, one can observe NIFTY ultimately forming lower highs since it made the last all time high. Today, near the closing bell NIFTY made a double top and slipped down from what one would consider a healthy retracement. These sharp pull backs show the power of bears to cause a dip and trap for buyers hoping a fresh bull run. However, patterns can break so keeping in mind the risks you should not stick to any particular pattern assuming the holy grail to market formations. On the right axis is Fibonacci retracements we can observe if a sharp fall occurs if the double top pattern holds true.
NSE:NIFTYShort
by nikhilchhabra
SC - Driving towards support | +310% Profit Target#SC/USDT Analysis Description --------------------------------------------------------------- + SC is currently moving towards the support line, if the it goes in this direction i'm expecting a nice double top pattern which is more bearish for SC. + I'm expecting this trend to continue and hit the next support before consolidating. + I'm not waiting for double top instead trading while double top is forming. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.012568 Stop Loss: 0.014570 ------------------------------ Targets 1: 0.01186 Targets 2: 0.01104 Targets 3:0.009839 Targets 4: 0.008537 ------------------------------ Timeframe: 1D Trade Type: Short Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Agree or Disagree with the ideas ? lets discuss in the comments. Like and follow us for more ideas. Regards VectorAlgo
Long
by VectorAlgo