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Triplebottom

Triple Bottom BounceAs Bitcoin continues to hold the support level of $53k, a triple bottom seems to be forming which is a bullish signal showing significant interest to buyers and a trend reversal could be approaching, further being supported that sideways price action and low volume usually indicates that a major move is imminent. If volume begins to increase and price moves towards the neckline we can expect a breakout towards $65k again. Bitcoin has been respecting the 50 day moving average since the beginning of October 2020, this being the first time we've had a daily closing candle below, In previous market cycles this has occurred which then resulted in a significant move back above and beyond which happened in the 2017 bull cycle . The MACD averages seem to currently be respecting each other which doesn't indicate any selling signals as of yet on the 4 hourly . The violent downwards move could be explained by the recent increase in news stating that the current bull market is coming to an end which triggered multiple people to sell which then lead to multiple liquidations longing after we managed to break an all time high. There is a possibility $65k may have been one small market cycle top while another may happen later this year after we trend downwards for several months. Instead of this I believe Bitcoin will finish with a blowoff top considering the amount of institutional inventors involved now preventing the price from falling significantly.
Long
by Rogez
Breakout From Falling Wedge Here it looks like we're getting another trend reversal on CHPT. Over the past 2 weeks it's been in a falling wedge pattern. Today we saw it break out of the falling wedge and retest the previous resistance as support. Then from there it jumped up about 5%, so great bullish signal we broke out of the downwards trend. Not only that but we also have a triple bottom now at the 19-20 dollar range in the last several months. I'll be catching it on a dip tomorrow and jumping in to ride it back up to the 30-32$ range for a swing. Hopefully we get a Biden green infrastructure announcement to help give it a little boost over the next 2 weeks.
NYSE:CHPT
by OfficialKairosMusic
1
$TPGY Longterm Bull on EVbox mergerTPGY with an ABCD to finish off its wave 1. Then retraced down to the .786 for a wave 2 completetion. Has now finished a triple bottom consolidation right around the A leg of the ABCD which is the min expected value. Technically this is all very sound, so I have take the time to make PT on its projecting to a Wave 3 (1.618). A lot of upside on this one, but a strict stop loss at the .786 because I think Growth stocks are in a bit of a rut. If it breaks the pennant upwards this one should fly and become a hot name.
TLong
by NapoleonStockS
FTSE100 - Triple bottom formedFollowing on from my previous idea, the FTSE has continued to show strength at this level of support. A triple bottom has formed at what looks like the bottom of the cup in a cup and handle pattern. If FTSE traders were bearish, the drop from the rising wedge would've been steeper. The news around the vaccine spat with the EU would've also likely caused a steepeer slide. However, because the bad news has been absorbed, we can assume traders are bullish (for now). I think the only thing stopping the FTSE from moving up is the current fears around lockdown on the continent. Technically speaking, I like how the chart looks. Bulls seem to be defending the 6700 level well. Fundamentally, the fears over lockdowns worries me about this setup, but I'm still confident it will play out. See chart for entries and exits
OANDA:UK100GBPLong
by pasojov
USDZAR Triple bottom buying opportunityAnyone who has studied chart anatomy will recognise this trading setup, no surprises here. Prices trade within the range three times (We are heading to or are already on our third bottom, preventing future declines. Will the USDZAR price descend below these prices in the foreseeable future? I don't think so, at-least not in a long time. Am I saying you should buy the USD?? No, I'm saying DYOR. Confidence level 8/10 Please like and comment your thoughts. Interested to know what you think about this idea. Goodluck!
Long
by BlacksmithShinobi
Ocean/USDT 1H. Solid triple bottom - Trend Line Break OutOcean/USDT 1H. I like stacking a few Ocean on the dips. Superb project. Looking at the 1 hour chart: I see a very good triple bottom that has offered support multiple times, far left is a 4th touch and within the rectangle is a good support zone. Buyers are not letting OCEAN dip beyond here 78 -80cents. All this and price action is within a larger ascending triangle structure that is bullish in its own right. Trend B, the blue descending line has been broken and had a retest, I'm a bit early to call this, but I HODL generally and look for dips. That said, I do like the look of this chart. I'm looking and HOPING to see an ATH in the shorter term. Also note support correlates to the Fibonacci retracement. 0.618. Fundamentally OCEAN is a good bet. Worth a look.
OLong
by iDoji