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Double Top

2022 Bitcoin Halving Post AnalysisHistory Never Repeats, But it Often Rhymes When analyzing the potential impact of the 2024 Bitcoin halving, it is wise to have an in-depth understanding of the price action of previous halving in 2020. This can help us to identify potential patterns and similarities that could play out in the current cycle. Pre-Halving Price Action In the lead-up to the 2022 halving, we saw a clear resistance/supply zone build up in the $12,000 range. This zone was tested multiple times, but price was unable to break through on a sustained basis. (Red Color Supply Zone) Several months prior to the halving, price action visited the 200 EMA/SMA range. This was the same as the strong accumulation zone of the bear market in 2018/2019. Key reason for this dump was COVID-19 pandemic. This drop provided the best pre-halving buying opportunity. (Purple Zone) Price Recovery Price recovered within weeks leading up to the halving on May 11, 2020. This recovery was fueled by a combination of factors, such as uncertain economic environment and halving anticipation. (Yellow Zone) Post-Halving Accumulation After the halving, we saw a period of accumulation as investors bought Bitcoin in anticipation of future price appreciation. This accumulation phase lasted for several months. Again this was the next best buying opportunity. Sametime there were many shake-off of inpatient investors. (Blue Zone) 2021 Parabolic Uptrend Towards the end of 2020 price-action was able to break out from the accumulation and resistance zone. 2021 resulted on the expected parabolic uptrend in the first half of the year. Then it was retrace. again a recovery during latter part of the year. This created a Double Top Candle stick formation. This concluded the bull market, and it did not give the expected blow-off candle like in 2017. Hope this post-analysis helped in order to build your plan for 2024 Halving and 2025 Expected Bull market Based on the historical evidence, it is possible that we will see a similar pattern play out in the lead-up to and after the 2022 halving. This could include: A period of accumulation as investors buy Bitcoin in anticipation of future price appreciation A breakout from the current resistance zone A sustained bull run as demand for Bitcoin continues to grow It is important to note that past performance is not indicative of future results. However, by understanding the historical price action of Bitcoin, we can better prepare for what may happen in the current cycle.
BNC:BLX
by cryptochi1986
1
#META looking rather precarious. META released a decent set of results last night, but trade action post market is very weak which makes me think there is a scenario where it could be headed as low as R240 to meet the Rising 200wma and previouys level of support at approx R245.00. Stock recently made a new high which was not confirmed by the RSI forming a lower high (bearish divergence). I would becareful of buying this thing too soon as i think further weakness is most likely on the horizon in the metaverse!
NASDAQ:METAShort
by MarcoOlevano
GBPCAD - Bearish Double TOP 📉 Hello Traders ! On Friday 22 Sep, The GBPCAD Broke a Strong Support Level (1.65373-1.67148) This Key Level Becomes a New Resistance Level. The Price Created a New Correction in The Previous Week! Currently, The Price Formed a Double TOP Pattern. The Neckline is Broken. So, I Expect a Bearish Move ! i'm waiting for retest... ----------- TARGET: 1.63830🎯 ___________ if you agree with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Short
by Hsan_BenAhmed
11
WOO: DOUBLE TOP PATTERNIn this technical analysis, the idea presented is the 4-hour chart of BINANCE:WOOUSDT , which appears as a bearish indication of a double top pattern. With that, I plotted two potential diagonal support lines to consider for a breakdown to materialize. I have a bearish sentiment for WOO based on an unlocking happening this October 10 per defillama.com . What is unlocking? From a coin perspective, investors have the attempt to sell the unlocked tokens that they held for some time, which can decrease the price of the coin. We're currently on a weekend, so we can't expect volume. I will continue to monitor this coin from time to time and provide updates as well in the comments. On another note, consider checking my article about BTC CRUCIAL TRIANGLE as we could expect a massive move and could correlate with altcoins as well. Always plan your trades by knowing your support and resistance along with take profit or stop-loss areas when entering a position. Happy trading!
Short
by luigi360swirl
Bank Nifty - Long Term Analysis Technical Analysis: Bank Nifty down by over a percent today, it led me to analyse its long term charts and what I see is not that great (P.S-I am not an expert) Let's start with the big question, is it forming a Rising Wedge? It clearly looks like plus it has tested the resistance for over 6 years now. Now talking about the weekly chart of bank nifty, it looks like it is forming a double top and although now it is around the support level but it looks that it can be easily broken. The worst would be when the rising wedge breakdown confirms On the Monthly chart there has been a bearish engulfing followed by a shooting star (both Bearish) and this month has confirmed the bearishness so far. Also I analysed the sector charts of both private and public banks, and private banks charts looks similar to the bank nifty (double top) bearish - considering bank nifty % is dominated by the pvt banks coz of market cap. Now Public banks have given massive wealth to the retailers and now is around its all time high, also it has been one side rally so not a lot of consolidation and is around the supply zone or resistance. Another negative point. I have also marked a support level to which it can come down plus you can consider 200 MA on weekly as another support Fundamentally banks have been performing well on many parameters and will continue to do so but it feels like the time when there will be massive profit booking specially from FII's as their accounts get closed by the end of December unlike ours end of march. This is not a trading call, just my analysis. So be cautious if you trade. Would love to know your comments if you agree or disagree, here to learn and understand your point of view
NSE:BANKNIFTYShort
by VArun1000