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Double Bottom

ETH/USD Daily Levels — December 21st, 2022Looking at Ethereum on the 12-hour time frame we see the bounce from the $1,161 level which could’ve just formed the local bottom for this next swing upwards. 1st target I’m aiming for is $1,287 and then we’ll re-evaluate from there, but huge capitulation move down in November, so would expect the same set of volatility to reclaim back on the upside. Trade is invalidated with a close underneath $1,161, from there, looking at $1,110. As of now, price action is looking good. As always please do your own research, I am not a financial advisor.
BITSTAMP:ETHUSDLong
by kyer
1
COMPUSDT is creating a double bottomThe price is testing the demand zone on the daily timeframe where the market is creating a double bottom. How to approach it? IF the price is going to grab new liquidity, we could see a pullback untile 0.5, 0.618 Fibonacci level, so According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
BTC calm before the storm, be prepared!! Total Market CapHi dear community and my loyal followers. In short I would like to update crypto market from macro perspective. I'm looking at monthly timeframe and would like to bring your attention to some bullish facts. As you see Total market Cap tested previous ATH in June 2022, the point which I called and till now I haven't changed my mind. Even the recent dump couldn't make me change my idea coz as you see it is double bottom. At the same time TOTAL Market Cap tested 0.786 fib level with 12D MACD bullish cross in a bear market which marks Bull market start and the Bear market end. BTW it has never given false signal in the whole BTC history. As you noticed every time when MACD crosses bullish the bottom was already in which proves my previous analyses about BTC bottom which I called 17.5K in June, the recent dump was a fake breakdown/ bear trap/ with Double bottom + multiple indicator bullish divergences like 2021 69K which was a fake breakout / bull trap/ with double top+ multiple indicator bearish divergences. At the moment I'm waiting BTC daily candle close above 21.3-21.5K with confirmation then daily candle close above 24.5-25K with confirmation to announce officially Bull market start. BTC will surprise 99% people who are waiting lower prices like 12-10-8K and doesn't give chance to buy at such low prices jumping suddenly in a crazy way. If you like my ideas don't forget to like, comment and follow my ideas. I will appreciate any single follow. Thanks in advance.
CRYPTOCAP:TOTALLong
by ergal91
2
USDCAD Idea 12/18/2022 Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of USDCAD Price closed within the zone so there are two options on this pair. 1. Price goes back down and retest zone and drop 2. Price creates double bottom and goes up to the next major zone Look at smaller time frames for patterns such as double tops and double bottoms for more confirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
EURNZD Idea 12/18/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of EURNZD I am looking at two scenarios with EN. Price closed nicely underneath a major zone. I am now looking at price to retest and continue downwards to 1.64000 Look at smaller time frames for patterns such as double tops and double bottoms for more confirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
Short
by rubensanalysis
3
CADJPY Idea 12/18/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of CADJPY I am looking at two scenarios with CJ. 1. Price break below 99.800 and drop to the next area which is 98.000 2. Price retest current price and creates a double bottom and goes back up to 101.000 Look at smaller time frames for patterns such as double tops and double bottoms for more confirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
NZDUSD Idea 12/18/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of NZDUSD Price closed above this zone (0.63725), once the market is open today I will be waiting for a retest on the zone and see if any long positions open up if not, we can wait for price to break below and close underneath the zone and look for short positions Look at smaller time frames for patterns such as double tops and double bottoms for more confirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
EURUSD Idea 12/15/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of EURUSD I am looking at two options for this pair. 1. Waiting for price to retest minor zone 1.05950 and go long to 1.06800 2. Price break below and retest 1.05950 and drop to 1.04600 Look at smaller time frames for patterns such as double tops and double bottoms for more comfirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
GBPJPY Idea 12/15/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of GBPJPY I am looking at two options for this pair. 1. Looking for a retest on 167.900 and long 2. Price break below and retest 167.900 and look for sells to 167.000 Look at smaller time frames for patterns such as double tops and double bottoms for more comfirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
2
EURNZD Idea 12/15/2022 Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of EURNZD I am waiting for price to get to 1.68500 and once it gets there I will be looking at two options. 1. Price to retest 1.68500 and then drop to 1.66500 and look for buys to 1.70000 2. Price to break above and retest 1.68500 and go long from there to 1.70000 Look at smaller time frames for patterns such as double tops and double bottoms for more comfirmation. Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
USDCAD Idea 12/15/2022Trading is all about patience. If you’re not patience, the probability of failing is very high. Here is my thoughts of USDCAD. I am currently waiting for price to either break above 1.36850 and retest and look for buys or it can also fail to break above and retest and drop. Look at smaller time frames for patterns such as double tops and double bottoms for more comfirmation. USDCAD looks bullish on the weekly time frame so I can see price go and hit 1.38000 Remember to trade responsible. This is not a signal at all, just my thoughts.
by rubensanalysis
BTC update after CPI data released. Hi dear community and my loyal followers. As you know actual CPI data released 7.1% but had expected 7.3% so both stock and crypto market reacted the news positively and pumped making the market green. If you check my previous analysis about BTC short term update, You can see that I warned you about it, tweeted about new updates how I closed my short position at 16.8K and opened long at the same level. I'm looking at daily timeframe and as you see I expect BTC bullish move towards 21.5-22K if it flips green zone and at the same time OBV breaks the mentioned blue channel and confirms trend strength with volume. When you look at my daily chart you can notice how BTC diagonal support trendline held & how beautiful triple bottom on OBV chart played out very well. If BTC breaks the mentioned green zone 18.5K it will confirm and increase probability that my previous analyses were accurate about BTC bottom and Wyckoff accumulation phase. As you remember I mentioned many times that BTC real bottom was at 17.5K in June and the recent dump from 17.5K to 15.5K was a false breakdown/bear trap/ with double bottom pattern + many bullish divergences like 2021 November top which was a false breakout/ bull trap/ with double top = many bear divergences. At the same time I published Wyckoff accumulation phase and told you that the recent dump from 17.5 to 15.5K was a spring. As you see on the chart I expect red line scenario for coming days. BTC more likely will hit 21.5-22K supply zone and rejects at that area and tests 18-18.5K resistance, then hits upper band of the Wyckoff accumulation zone. If my scenario plays out, it will also confirm the weekly falling wedge breakout and retest posted bellow and my previous analyses. Check bellow other bullish weekly charts and indicators I'm going to update. If you like my ideas and analyses, don't forget to like and follow for further updates. I will appreciate any single follow, like & comment.
Long
by ergal91
6
PROSBUSD - Double bottom pattern?What is Double Bottom Pattern? The double bottom pattern looks like the letter "W". It indicates an trend and momentum reversal in a particular asset. It is best for analyzing the intermediate to longer-term view of a market. Double Bottom Pattern one of the most reliable reversal pattern after Head and Shoulders Pattern. How does Double Bottom Pattern Work? Double Bottom Pattern works in two phases: Phase 1: When the major trend is downtrend and forms the first down peak, then from the support the prices bounce to a new higher resistance and unable to break that resistance. Phase 2: When prices are not able to break the resistance it again goes to the same level and take support form similar levels forming second down peak also double bottom . Again due to demand the prices rises up to the resistance and break that resistance. Increase in volumes during breakouts further confirms the reversal move. This marks the completion of the pattern. Above Chart Explanation: This is the daily chart of PROSBUSD here we can see in a downtrend prices take support and forms a down peak one and took support form there and bounce back to the above resistance. But prices were not able to break it instead prices got rejection from resistance and the prices again go down forming second down peak. This is where we are NOW . What next? Well, after taking support the prices should bounce and break resistance. There usually traders enter on the breakouts and target the next resistance.
PLong
by fortitude23