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Triplebottom

ZEC/ETH Long-Term BottomDue to a mix of fundamental and technical factors, I believe the price of ZEC has bottomed relative to ETH, which may lead to substantially higher ZEC prices in the near future. Currently ZEC has relatively little use outside of speculation, which results in periods of intense demand and rapid price increases. Demand is particularly strong following news about ZEC, such as new exchange listings, but this demand eventually drops off when ZEC falls out of the news cycle. This demand imbalance means that the overall supply and demand dynamics of ZEC are particularly sensitive to miner activity, and whether the amount of newly mined ZEC being sold is greater than or equal to the current demand for ZEC at market price. An excess of supply at the current market price naturally leads to lower prices. Miners are motivated entirely by profit, so their motive to sell ZEC must logically be incentivized by profit. GPU miners in particular have been known to switch between mining different algorithms in order to maximize their returns. Historically, AMD cards achieved their highest returns mining Ethash, while Nvidia cards achieved their highest returns mining Equihash. Miners with 1080ti's who wanted to accumulate Ether were better off mining ZEC and exchanging it for ETH, resulting in selling pressure on the ZEC/ETH pair. Due to the recent increases in Zcash network difficulty this is no longer economical and thus a significant source of selling pressure has disappeared. Miners who accumulate coins rather than sell them may also be shifting from ETH to ZEC, as seen in the ZEC/ETH trading pair. The trading pair has been in decline since Zcash's inception, from highs of over 200 all the way down to 0.42 today. Miners who did not immediately sell mined ZEC for ETH (or BTC) missed out on huge profits. However, this trend may be coming to it's conclusion. Looking at the ZEC/ETH chart, a large falling wedge pattern has formed over the course of the last 16 months. The pattern is well defined with no less than 5 reaction highs and lows, in addition to consolidating volume. The pattern saw a false breakout to the downside in January reaching a low of 0.33 on February 1st, followed by a strong move back above 0.5. The new low was tested in May, reaching 0.347 on May 13th, followed again by a quick move above 0.5 on huge volume. This event marks the breakout of the falling wedge pattern. Since that date, the trading pair has fallen back to test the upper trend line of the wedge, and has made what appears to be a triple bottom formation at 0.35. This pattern will be confirmed with a strong move above the 0.50 level on increasing volume.
Long
by vmarche
EURUSD Off Of Triple BottomEURUSD is has been trading lower along the supply line these last months. At this point, some demand is expected to enter this market, there is a triple bottom support area around 1.1515 and the overall trend seems to be overextended. There hasn't even been a pullback to 0.382 of the setup bear leg. Long entries around the triple bottom area with stops below 1.1470 and looking for 1.5R-2R targets seems reasonable at this point. Worth a try.
Long
by Zoen_Trieste
3
DO MARKET FEELS GREED OR FEAR THAT IS THE QUESTIONPrice movements occurs like a waves. You can check it by looking its momentum. When momentum starts to slow you can know that trend reversal not far away. You can also double check it with markets current situation. There is a greed or fear? You can't just make the same think with crowd. You are making trade. If you want to sell something to them you should buy it when noone wants to buy. Is bitcoin gonna break its market structure and drop like there is no tomorrow? I don't think so. Nothing has changed you are just thinking like that because of price. Purple lines shows divergences and yellow areas and keltner channels show oversold and overbougth situations. I think there is a clear pattern that bitcoin repeats. White horizontal lines support area.
BITFINEX:BTCUSDLong
by dr.orientem
BTC Triple Bottom Extremlly BulishhhThe triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market. While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal. The third bottom indicates that there's strong support in place and bears may capitulate when the price breaks through resistance levels. There are a few rules that are commonly used to qualify triple bottoms: There should be an existing downtrend in place before the pattern occurs. The three lows should be roughly equal in price and spaced out from each other. While BTC price doesn't have to be exactly equal, it should be reasonably close to the same price, such that a trend line is horizontal. The volume should drop throughout the pattern in a sign that bears are losing strength, while bullish volume should increase as the price breaks through the final resistance. Just my opinion do your own research ................Not finacial advise
by nadjib
1
USDJPY POSSIBLE UPWARD MOMENTUM!This Trend/Chart analysis was done on 1 day (Daily) Time Frame were we can see Dollar (USD) having a nice strength over Yen (JPY) if talking about longer time frame point of view. We know it did pullback yesterday on nyu session like 30 pips but that might not much affected to position trader (holding deep down ) rather then a scalper (might got tough to decide fast). It might be a false breakout yesterday cause today $ is totally back again on the track and still on London session $ is kicking ass of yen! Here on my chart there are some simple analysis on exponential moving average (EMA),Symmetrical Triangle,Support/Resistance and Triple Bottom (Reversal). 10 day EMA is already crossing over 60 and 180 longer EMA and trying to show us a golden crossover. Price are inside the Symmetrical Triangleand we can see that last time Triple bottom didn't able to make a reversal and finally after this nice pullback it seems like a false breakout for long term trend where price weren't total bear and moved back again inside our symmetrical triangle. Now the main thing is here if only the uncompleted task of triple top last time is possible now then our price will act as the black line with green tick sign boom! USDJPY
Long
by Anatta0