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Double Bottom

Intrigued by BCH HereFinding myself intrigued by Bitcoin Cash. We recently hit bottom a 2nd time and have thus far begun moving up, breaking out of a small falling wedge (on the non-log daily chart, the logarithmic weekly chart is what is pictured above, but it still has the wedge and targets from the daily non-log chart). Why am I intrigued, outside of a potential double bottom? Bitcoin Cash was a fork of the original Bitcoin code, meaning original adopters and/or owners of Bitcoin at the time received an equivalent amount of Bitcoin Cash. Many of them were made wealthy from Bitcoin. It would seem to me, if I were in their position - I would have a vested interest in seeing Bitcoin Cash make a comeback, if even just briefly enough to make some returns on an essentially free investment. On the chart - interim daily falling wedge targets, boith still under $200. For weekly / long-term - get through and hold above the first red resistance area to make it to the next one above it - that happens, the double-bottom comes into play.
COINBASE:BCHUSDLong
by dudebruhwhoa
6
GBPJPY Confirmed Double Bottom +400 PipsAfter identifying a potential triple bottom pattern on GBPJPY, I took a long position following a successful retest of the key support level at 157.00. This trade has entered into profit, with the current price at 161.500. Moving forward, I am watching for a breakout above the neckline, which would signal a new opportunity to enter another long position with a target price of 168.00. Despite negative news for GBP last week in retail sales and interest rate announcements, I believe the post-pandemic deflation process could support a rise in GBP, particularly against currencies like JPY that are facing economic uncertainties. By carefully monitoring price movements and staying attuned to global economic trends, I remain optimistic about the prospects for our trade and the future of GBP. What is your thoughts?
Long
by OfficialKieranTrewick
EURJPY can break above? 🦐The double bottom pattern that formed on the EURJPY Daily chart after the recent low suggests that there was a period of selling pressure that eventually led to a reversal. The impulse to the upside that followed and tested the daily resistance level multiple times shows that buyers are in control and are attempting to break through this level. Currently, the market is in an accumulation phase between the resistance and the 50% Fibonacci level. This suggests that buyers and sellers are assessing their positions and waiting for a clear direction before committing to a trend. As a trader, you could look for a break above the daily resistance level as a potential long entry signalaccording to the MTB Strategy Rules. This could indicate that buyers have gained enough momentum to push through the resistance and continue the uptrend.
by InkyGrip
10
Shiba Inu will double in price, right now! Shiba Inu is absolutely ready for a massive breakout! I recommend to buy Shiba Inu right now because the technical analysis gives us a strong buy signal! As you can see, the price is breaking out of the descending channel with a successful retest. After the retest, I don't see any reason why Shiba should go down at this point. There are absolutely no unfilled GAPS below the current price, so it is extremely positive for the bulls. There is no reason to short SHIBA for the bears; they would prefer other coins. From the Elliott Wave perspective, inside the descending channel we can spot a zigzag, which is a corrective pattern. Usually, you want to buy a breakout of corrective patterns for an explosive move! There is no doubt that Shiba Inu knows how to pump drastically, and what can happen to you is that you wake up in the morning and you will see a huge green dildo, so I think you want to fill your bags before it happens! Also, we have a double bottom pattern on the macro scale between the previous swings from June 2022 and December 2022. Another great sign of a trend reversal. The most important question at this point is where to take profit. You don't want to take profit earlier than at the POC of the previous symmetrical triangle from 2021–2022. Be greedy and make sure you double your investment! Also you can long on futures with a reasonable stop loss! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
82