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Double Bottom

XRPUSD currently retesting support on the double bottom necklineWe currently have one weekly candle close above the double bottom neckline and the currently weekly candle is still currently holding support on that same neckline with 3 more days left to go before it closes. A close above the neckline would certainly be a bullish sign especially when the entire candle’s body closes above such a resistance level. Considering Trump just appointed PayPal Mafia’s David Sacks as cryptocurrency/AI czar,I think probability favors a breakout up fro XRP’s double bottom pattern. Were price to confirm the breakout from the spot it just recently broke above the neckline at, then the full breakout target will be $4.0422 a most auspicious number full of multiple numerogically encoded 11-11’s. I also think if we are fractally mirroring 2016’s huge breakout move, that $3.80 or perhaps 3.84 could be an important level to watch also both very auspicious numbers as well, though the 4.0422 target would be preferred considering it would make for a new all time high. Whichever one it may be they will all get reached eventually this bull run in my opinion. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
1
CRV appears to breaking up from double bottom necklineIf you zoom in you can see the previous daily candle closed on the neckline with exact body support and now the current candle is having a nice bullish impulse, which suggests that it could validate the double bottom relatively soon. If it has a few days of correction n this zone it will also form a right shoulder to an inv h&s pattern that would then materialize with a neckline slightly above this double bottom neckline as I hypothesized my previous curve idea which I will provide a link to below. That inv h&s pattern would then have a slightly higher breakout target than this double bottom will should it materialize. For now the double bottom is the one to focus on as it seems very close to validating. Curve is likely overextended at this point so it could easily go back and forth on the neckline here before the real lift off. *not financial advice*
COINBASE:CRVUSD
by DrDovetail
Cardano - Starting The 10x Parabolic Rally!Cardano ( CRYPTO:ADAUSD ) is perfectly following the break and retest: Click chart above to see the detailed analysis👆🏻 With an incredible +200% pump in November, Cardano is finally coming back to life after creating the bullish double bottom break and retest just a couple of months ago. Looking at previous cycles, this seems to be just the beginning of another +3.000 rally. Levels to watch: $3.0, $10.0 Keep your long term vision, Philip (BasicTrading)
CRYPTO:ADAUSDLong
by basictradingtv
12
Digibyte looks like it’s validating the invh&s breakoutDigibyte shown here on the daily chart showing a nice bullish impulse firmly above the neckline of its inverse head and shoulders pattern. Already well on the way to the breakout target here so very likely validating the breakout. Also doing so a day or so before it has its golden cross. Once it reaches the full breakout target it’s likely to test the next potential resistance of the yellow horizontal trendline. That trendline is actually the neckline of a larger double bottom pattern. Wouldn’t be surprised with the golden cross so close by that whatever resistance that double bottom neckline provides doesn’t last very long *not financiala dvice*
CAPITALCOM:DGBUSD
by DrDovetail
CRV potentially breaking above a Double bottom neckline hereCurve like any other altcoins has responding very parabolically to its goldencross. It has now gone above a potential double bottom neckline, however, as much as it has pumped recently I would not be surprised to see it correct back down below this neckline for a bit. If it does that it may form another neckline slightly higher for a potential inverse head and shoulders pattern. If it does just continue up fro here instead then the target shown on the above chart is the ost probable one to expect. *not financial advice*
COINBASE:CRVUSD
by DrDovetail
Apecoin chart per request.I’m not entirely sure how this chart will play out, currently looks like this chart’s price action is heading towards this brown trendline that will either serve as a double bottom neckline or if it holds resistance for a candle or few t will become the top trendline of a valid descending channel at that point, either way the target would be the same for a breakout from either pattern, won’t be able to dial in the exact placement of the dotted goldenrod colored measured move line until price chooses where it’s going to trigger the breakout but I believe I have arbitrarily placed it in a close enough radius to get a within the ballpark of a decent price target guesstimation. Once again we see a big bullish pump coinciding with the golden cross as well. *not financial advice*
COINBASE:APEUSD
by DrDovetail
Goldencross even causes coins like EOS to go parabolic You know when even a long considered dead coin like EOS also responds with a parabolic pup on the day of its golden cross that at this point my hypothesis has to be proven. This is like the 20th example I’ve given of this occurring the same day as a chart’s golden cross. Remember this behavior the next time alt season begins during the second parabolic leg of a bitcoin bullrun. Anyways I never expected to chart an EOS chart but here we are. Would normally never hold this coin but do see it as an opportunity to at least take a position in it to its eventually double bottom breakout target. *not financial advice*
COINBASE:EOSUSD
by DrDovetail
4
Quant’s big green candle today coincides w/ its goldencrossJust like so may other alt coins around the market, Quant exploded upward on the day of its golden cross as well. There’s a slight chance t could pull back from here in which cae then it could possibly form a right shoulder of a potential inverse head and shoulders and give people a chance to enter in lower before the next leg up, or it could just keep pumping right through this current tan colored resistance line and continue up to the purple neckline of it’s massive double bottom pattern. Ether way whenever it flips that purple line to solidified support,the breakout target can send Quant all the way back up to its old all time high, likely making a new all time high in the process. Looking forward to seeing where this one goes. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
Cardano - Repeating the +3.000% bullish cycle!CRYPTO:ADAUSD is creating price action like back in 2020 and we might see a rally soon. Looking at the higher timeframes allows you to massively capitalize on overall market swings and cycles. Especially when it comes to Cardano, these cycles are pretty rewarding but also pretty predictable. At the moment, Cardano is repeating price action; we saw the same pattern playing out in 2020 and this break and retest was followed by a rally of +3.000% Levels to watch: $0.42, $0.25 Keep your long term vision, Philip - BasicTrading
CRYPTO:ADAUSDLong
by basictradingtv
38
Flare breaking up from falling wedge that is also a bullpennantThe shorter dotted purple line is the breakout target for just the falling wedge alone. The much longer dotted purple line is the measured move / breakout target line for the entire pennant. As we can see the price action has treated this longer dotted purple line as exact wick resistance here now as it begins its ascension to the breakout targets which helps tell us that this measured move line is indeed a very valid one. We can also see an impending golden cross just around the corner for flare as well at which point I expect it to get the same bullish impulse most of the alt market has been getting after their golden cross happens. If we hit the full breakout target of the entire pennant, that will take price action above a double bottom neckline as well which wll then lead to the opportunity for an even bigger breakout target. *not financial advice*
COINBASE:FLRUSD
by DrDovetail
2
US30 to continue rise?Hi Guys, Its been a long time since ive posted. I hope everyone is killing it. I have been away mastering US30, as you know I used to trade GJ and Gold mostly. So I am back. Watch this space for some fire analysis. I have been in buys on US30 for almost the past 2 weeks. After a double bottom from the previous bearish market reversal from the week before. It looks like we have completed 2 full levels of rise, and made a new high. This high was retested, so I think that we could see more rise on this pair for the rest of the week. While not disregarding the fact that we could have a pullback before the rise. However I am in a buy with tight risk.
BLACKBULL:US30Long
by faddy
1
JUBLINGREA : DOUBLE BOTTOMNSE:JUBLINGREA has displayed a strong reversal pattern on the chart, forming a double bottom structure. This is a bullish indication, signaling a potential trend reversal. Today's price action has confirmed the breakout above the neckline, marking a critical turning point for the stock. Technical Analysis: Double Bottom Formation: The stock formed two distinct lows at approximately ₹643, showcasing strong support at this level. Neckline Breakout: Today, the stock decisively broke above the neckline at ₹ 765, accompanied by increased volume, validating the breakout. Entry: Enter near the breakout level at ₹765. Stop Loss: Place a stop loss below the neckline at ₹ 733, ensuring protection if the breakout fails. Jubilant Ingrevia's breakout above the double bottom neckline is a bullish signal, indicating a potential upward move. Traders can look to capitalize on this momentum, with well-defined entry, targets, and risk management. Monitor for sustained buying pressure to maintain conviction in the trade. Disclaimer: This analysis is for educational purposes only. Always conduct your own research or consult with a financial advisor before making trading decisions.
NSE:JUBLINGREALong
by VanshikaUdeshi
2
US100 daily time frameGood morning traders, I have been quiet for a while, I hope everything has been going well. My US100 daily tf analysis. I have posted the daily analysis on this pair before, hoever this is an update on how it is playing out. If you look at the left of the chart, you can see that market reversed after an uptrend(cant be seen) I want to point out the 3 levels that price moved down after this reversal(marked on the chart). After these 3 levels of retest and fall, The market then formed a massive double bottom, which was made up of 2 smaller double bottoms as shown on the chart. We have been buying this pair for over a month now, with sells in between(because market always has to retrace) So as it stands now, market had formed the double bottom on the daily time frame, so we are in for very strong buy, for the next few months if this reversal is respected as analysed. Price at the moment has broken above the 200 and 800 ema resistance, making it a support. Price went down to retest that zone the day before yesterday, and yesterday it began the move up. So I expect buys on this pair, and will wait for the correct signal to enter, as I closed my sell trades yesterday from the day before.
ULong
by faddy
5