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Double Top or Bottom

BTC Analysis - Pre-Post HalvingIn the daily time frame, Bitcoin's price action is exhibiting consolidation within a defined range, marked by the formation of a triple top pattern. This pattern is typically recognized as a bearish reversal indicator, emerging after a sustained uptrend. The appearance of the triple top on Bitcoin's daily chart may signal a potential shift in market sentiment from bullish to bearish. Should Bitcoin break through the crucial support level at $60,000, we could witness a notable downtrend, with the price potentially falling to the $51,000 range. This pivotal movement highlights the importance of closely monitoring these key technical levels, which serve as critical indicators for Bitcoin’s short-term market movements.
Short
by Mudrex
Divergence into a Reversal?? - AUHere I have AUD/USD on the 1Hr Chart! Our two current Lows @ ( .9498 ) on Wed. April 10th and ( .9456 ) on Fri. April 12th show an interesting underlying story when it comes to our indicators! 1) Looking to the RSI and comparing the Lows to Price on the chart, we can see that the RSI is showing a STRONG Divergence meaning Price could potentially be looking to move up now! 2) Our Momentum & Volatility indicators are showing Consolidation or Sideways movement meaning there is really no more trend left to be found. Now this Divergence leads me to believe that if Price works back up to the CONFIRMATION of PATTERN @ .6545, we could see the VALIDATION of this PATTERN and look for trading opportunities! CONFIRMATION of PATTERN @ .6545 INVALIDATION of PATTERN @ .6456
Long
by Novi_Fibonacci
AGIX - not looking good! Prepare for more downside.First of all, I acknowledge that I've changed my mind on AGIX short term price prospects (see previous post in link below). I acknowledged a risk of a pullback but the resulting move was much more decisive than I was expecting. The Bitcoin wobble has really sparked some sudden short-term reversals and hurt the technical charts of a vast number of coins, but it has also given hope to the strength of others (e.g. SOL). Unfortunately, AGIX is in the former camp. Not making any predictions on medium- and long-term prospects (so AGIX hodlers: this is not for you), but from a short-term perspective this chart is now looking decidedly dicey. Some more shenanigans at the BTC front (see second previous post below), could see AGIX dropping into the $0.50s before bouncing. Also note that the AGIX/BTC gives the same impression: I continue to believe the excitement around AGIX and the merger is not all hype, though and look forward to seeing it recover and mint a new ATH later in the year.
A
by Fractaleer
TSM Analysis: Double Top and Support Zones Signal Bearish TrendTicker: TSM (Taiwan Semiconductor Manufacturing Company) Current Price: $142.57 Technical Analysis: Potential Short-Term Bearish Signal Price Action Observation: TSM is currently trading at $142.57, with a possible double top formation identified around $147.40 (purple dotted line). This formation often signifies a potential reversal in the ongoing uptrend. Support Levels: A crucial support zone is marked by the purple rectangle between $133.50 to $136. These levels historically indicate increased buying interest and could potentially act as a floor for the price. Indicators Analysis: - RSI (Grey Line): The RSI, represented by the grey line on a custom indicator, has been declining, signaling diminishing bullish momentum. - ADX (White Line): The ADX, depicted as the white line on the custom indicator, has also been decreasing, suggesting a weakening trend strength. Potential Strategy: Considering the technical analysis indicating a short-term bearish outlook and the identified support levels, traders may watch for price movements around the support zone of $133.50 to $136 for potential buying opportunities or confirmation of the bearish trend continuation. Conclusion: Based on the analysis of the double top pattern (purple dotted line), support levels (purple rectangle), RSI, and ADX, there's a possibility of a short-term bearish direction for TSM. Traders should closely monitor these levels and indicators for potential trading signals.
NYSE:TSMShort
by maybethatguy
3
Bearish Trend Continues with Potential Reversal Zone IdentifiedBearish trend on BGB, an asset that has also been undergoing a strong correction since the last overall wave that affected all crypto assets. However, the volume on this asset remained quite active, which gave me an idea that it's possible they are hedging on BGB against other cryptos that experienced much higher volatility, resulting in greater losses in this bearish wave we are experiencing. With that said, my view focuses on converging points, which basically consist of the target of the double bottom pattern on the H1 chart, the 61.8% Fibonacci retracement on the H1 chart, and on a more weekly or daily chart, we can see an uptrend trendline converging to the same point mentioned above. Combined with weak indicators such as OBV and Stochastic, the asset continues its bearish trend with no possibility of operations on the upside leg. Upon reaching the convergence point, roughly between 1.045 and 1.600, I await a possible price resistance signal, and the moving averages nearing this region to then look for any bullish pattern or candle that could give me an indication of a reversal to the upside. But at this moment in the medium term, there are no buying points. For sellers, selling operations, I await the price to return to the top of the bearish channel formed on the H1 and then enter the breakdown below some candle that could signal this entry.
Short
by vieiraes
Bearish Trend Continues with Potential Reversal Zone IdentifiedBearish trend on BGB, an asset that has also been undergoing a strong correction since the last overall wave that affected all crypto assets. However, the volume on this asset remained quite active, which gave me an idea that it's possible they are hedging on BGB against other cryptos that experienced much higher volatility, resulting in greater losses in this bearish wave we are experiencing. With that said, my view focuses on converging points, which basically consist of the target of the double bottom pattern on the H1 chart, the 61.8% Fibonacci retracement on the H1 chart, and on a more weekly or daily chart, we can see an uptrend trendline converging to the same point mentioned above. Combined with weak indicators such as OBV and Stochastic, the asset continues its bearish trend with no possibility of operations on the upside leg. Upon reaching the convergence point, roughly between 1.045 and 1.600, I await a possible price resistance signal, and the moving averages nearing this region to then look for any bullish pattern or candle that could give me an indication of a reversal to the upside. But at this moment in the medium term, there are no buying points. For sellers, selling operations, I await the price to return to the top of the bearish channel formed on the H1 and then enter the breakdown below some candle that could signal this entry.
Short
by vieiraes
EU D Bearish Idea 3/17/24There is a chance that price could continue bullish from here, BUT I can NOT ignore the fact that there is a weekly head and shoulder possibly printing. Which will send price bearish for quite a bit. On top of price not really breaking this area of price since 2021. This is a key level of price for EU. There has been 4 bearish engulfing candles in this area on the monthly, plus if you FIB the last bearish swing on the monthly price is at the 50% area of that FIB. Last week printed a M on the daily & broke the neckline. Looking for the retest of the neckline and price to continue bearish. If price engulfs bullish I will adjust and look for buys
Short
by cecedidit
3
BTC bearish scenarioReverse Adam and Eve Pattern: This pattern suggests a potential trend reversal from bullish to bearish. It's characterized by two consecutive highs that are lower than the previous high, followed by a low that's lower than the previous low. Impact on Crypto Market: If Bitcoin undergoes a significant price decline, it can often drag other cryptocurrencies down with it due to its dominance in the market. This is because Bitcoin is often seen as a bellwether for the broader cryptocurrency market. What you can do: Further Research: Conduct your own research to understand the technical indicators and potential implications. Explore other analysts' perspectives and analyses. Risk Management: Always have a risk management plan in place, including stop-loss orders to limit potential losses if the price moves against your expectations. Don't Panic Sell: Don't make investment decisions based on fear alone. A potential bearish reversal pattern doesn't guarantee a crash. Remember: Technical analysis is a valuable tool, but it should be used in conjunction with other factors for a more comprehensive understanding of the market. Stay informed about the latest news and events that might impact the cryptocurrency market. Develop a sound trading strategy that aligns with your risk tolerance and investment goals. By following these steps, you can make more informed investment decisions and navigate the complexities of the cryptocurrency market with greater awareness.
BITSTAMP:BTCUSD
by ParabolicP
Solana (SOL) Chart Analysis: Potential Bullish ReversalThis analysis examines the Solana (SOL) price chart on the 4-hour timeframe, highlighting a technical pattern that suggests a possible bullish reversal. Adam and Eve Double Bottom Pattern: The chart appears to be forming an Adam and Eve double bottom pattern. This pattern is generally considered bullish and indicates a potential reversal of a downtrend. Here's a breakdown of the pattern: Two Lows: The pattern consists of two troughs, or lows, in the price data. The second trough (Eve) is typically higher than the first trough (Adam). Separating Candlestick: Between the two troughs lies a central candlestick peak that represents the failed attempt by sellers to push the price lower. The height of this candlestick is typically lower than the height of both Adam and Eve. Neckline: A neckline is drawn by connecting the lowest points of Adam and Eve. A breakout from this neckline, ideally with increased trading volume, could signal an upward move in price. Target Price: Based on the Adam and Eve double bottom pattern, a potential target price for SOL could be determined by measuring the vertical distance between the neckline and the bottom of Eve. Adding this distance to the breakout point above the neckline would provide a theoretical target. Important Considerations: Technical analysis is a valuable tool, but it's not a guaranteed predictor of future price movements. Other factors like market sentiment, news events, and overall market trends can influence the price.
BINANCE:SOLUSDLong
by ParabolicP
9