TONUSD – Double Bottom Formation (Neutral Technical View)
The chart shows a double bottom structure, where price formed two lows (Bottom 1 and Bottom 2) near the same zone. This is generally watched as a potential reversal signal when price moves back toward the neckline.
Key observations:
Bottom 1 and Bottom 2 highlight buyers defending the same support area.
Price is now approaching the neckline zone around 1.65–1.67, which is an important technical barrier.
If candles can hold above the short-term EMAs (9 and 21), it strengthens the idea of momentum shifting upward.
A close above the neckline would indicate continuation toward higher resistance levels, while rejection could keep the pair in consolidation.
https://www.tradingview.com/x/HmJnmIC0/
The chart shows a double bottom structure, where price formed two lows (Bottom 1 and Bottom 2) near the same zone. This is generally watched as a potential reversal signal when price moves back toward the neckline.
Key observations:
Bottom 1 and Bottom 2 highlight buyers defending the same support area.
Price is now approaching the neckline zone around 1.65–1.67, which is an important technical barrier.
If candles can hold above the short-term EMAs (9 and 21), it strengthens the idea of momentum shifting upward.
A close above the neckline would indicate continuation toward higher resistance levels, while rejection could keep the pair in consolidation.
https://www.tradingview.com/x/HmJnmIC0/
Trade active
closeTrade closed: target reached
close
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.