Last time I called an Adam and Eve Bottom was February 2019, that call worked out well. I'm seeing the same pattern play out now here.
Volume profile confirms A&E with large spike on the Adam, and fall off on the rounding of the Eve.
Breakout point/neckline is around $21,500, Measured move is around $26,500.
If we break 20k and flip it to resistance then we will indeed go to 12k levels, where there is big support.
This is possible from fundamental analysis
1. more rate hikes for about three quarters
2. stock market has not bottomed out, there is support coming in, though
3. borrow protocols like celsius and 3ac who needs to be liquidated
4. 4 year cycle...
INSANE run up, 670% in just 2days. It funny correction of just 25%... We could use both of these facts. The herd will continue to pump it, or we will see a massive dump... Adam&Eve at this point looks so interesting that I had to draw this. I am eager to see the next move. Careful with this one. Good luck traders
Adam & Eve Double Bottoms: Bull Market Results
Overall performance rank (1 is best): 17 out of 39
Break even failure rate: 12%
Average rise: 43%
Throwback rate: 67%
Percentage meeting price target: 69%
The double bottom confirms as a true double bottom once price closes above the peak between the two valleys. See the figure to the right. Without confirmation you...
AVAXBTC created an inverse Adam&Eve Pattern, and the price broke the daily support. The price wants to test the next blue (daily) support.
According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure ->...
CRSP had an bearish H&S formation earlier which saw it fell to a low of $100 on 5 March. It then traded in a wide sideway range of 106-137 for most of the next 7 weeks and eventually an Adam and Eve pattern has emerged.
The Adam & Eve ((A&E) is variation of the "double bottom" formation. The neckline is currently at 137. As soon as it started trading above...
PTON established a strong support at 94 after forming a double bottom there on 5th March. It rose for only 2 days before losing momentum for the next few weeks when it slowly became apparent that a mini Adam and Eve bullish pattern was forming.
Today it gapped above the Adam & Eve neckline with RSI rising strongly >50 at the same time. For those who have yet to...
Adam and Eve, I love this pattern. Do you remember this idea?
According to Plancton's strategy, we can set a nice order
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.