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Double Top or Bottom

PENDLE Daily - Bullish CHART PATTERN PENDLE has formed a W-Bottom Chart Pattern in the Daily timeframe, which could signal more upside is coming. We're also observing very distinctive higher lows and higher highs; a key sign of a bullish market. The W-Bottom pattern hasn't quite finished playing out, what we now need to see is a successful retest of support at the "neckline" which is currently at $4. What this means in simpler terms, is that the price cannot CLOSE below this, otherwise the pattern is invalidated. We're also observing a BUY signal in the weekly timeframe; a strong indication that bulls are in control for the near future: If the pattern holds, the price is likely heading towards the previous local high of $4.7 _______________________________ BINANCE:PENDLEUSDT
Long
by CryptoCheck-
Short setup on SPXThe SPX has experienced a significant bull run, reaching just below $5700, but is now showing clear signs of weakness, suggesting a potential short setup. Since mid-July, the SPX has been moving sideways and is now nearly flat at its all-time high. However, the RSI Exhaustion at the bottom of the chart has significantly declined and hasn't recovered much, establishing a downtrend. This divergence between the price and the RSI Exhaustion is the first major signal of a possible short configuration. Three additional signs support this setup: The RSI Exhaustion shows bullish exhaustion (indicated in green), signaling that further price increases are unlikely. The price has formed a top at its all-time high, as identified by the Bottoms Tops Signal indicator. A new major resistance level has recently formed, as indicated by the Levels and Zones indicator. While this level could potentially turn into support if the price breaks above it, for now, it remains a resistance, exerting downward pressure on the price. Is the bull run over? Only time will tell, but for now, it's crucial to remain patient and always seek confirmation from the indicators.
TVC:SPXShort
by a.b
Will MANTAUSDT Break Out or Break Down? Critical Moment ApproachYello, Paradisers! 🚨 Are you ready for the next potential breakout, or are you about to miss a crucial move? Let’s dive into MANTAUSDT and see what the charts are telling us! 💎MANTAUSDT has bounced off a key support zone and has shown a Change of Character (CHoCH) towards a bullish market structure. Additionally, a bullish divergence has formed, further increasing the chances of an upward move. 💎While the probability of a rise looks high, caution is essential as the price approaches the resistance trendline. If the price breaks through this resistance with strong candles, it will signal bullish strength. 💎Should the price break out and close a candle above the resistance zone, we could see the formation of a W-pattern structure, significantly boosting the likelihood of a bullish move. 💎However, if the price breaks down and closes below the support zone, our bullish outlook will be invalidated. In that scenario, it’s wiser to wait for better price action before making any moves. Strive for consistency, not quick profits. Stay patient, disciplined, and keep those emotions in check, Paradisers! MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
USOIL Rallies, Tensions Rise, Could Price Soar More??Here I have TVC:USOIL on the Daily Chart! Starting with Technical, we can see Price has formed a Double Bottom at a Support Area that's kept Price afloat for quite some years now, but was last visited and acted as Support for Price back in the Spring of 2023! Price has Broke the Confirmation of Pattern @ $72.36 and is now Breaking the Local Falling Resistance from prior July & August 2024 Highs. Regardless, Price Action has Broken Structure and created Higher Highs and Lows, confirming Uptrend, starting with the Higher Low of the Double Bottom on Oct. 1! - Currently we want to see this Bullish Rally continue Breaking Above the Falling Resistance and staying above the ( $71 - $72 ) Range that Price has been interacting with Signaling Bulls in fact are in control, then for a Test of the Break of Confirmation of Pattern and Test of the Break of Local Falling Resistance! * Once successful, we will see Price rise to the next Falling Resistance created from the Highs of Sept. 2023 & Apr. 2024! - Massive Bullish Volume enters on the 2nd Low of the Double Bottom on Oct. 1 - Price on RSI is Above 50 with the Break of the Confirmation of Pattern Now Fundamental, the biggest factor that seems to be at play for TVC:USOIL is all the Geo-political confrontation stirring up. Not only is the Russia/Ukraine war still ongoing, the tensions between Israel/Iran are seeing massive implications across the board! - Oct. 1 being the beginning of the Iran missile attacks on Israel www.tradingview.com - Now worries arise that Iran's Oil Facilities may be in danger as a possible Retaliatory Israeli Strike Target! With Iran eyeing Israel's Energy Infrastructure, Power Plants, Refineries and Gas Fields! www.tradingview.com * Oct. 7th is the Year Anniversary to the Israel/Hamas conflict and suspicions arise that we could be looking at things intensifying further!
TVC:USOILLong
by Novi_Fibonacci