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Doublebottomreversal

COMP-USDT(Double Bottom)An open-sourced decentralized finance protocol built on the Ethereum blockchain that has currently locked in ~$7.38 Bn in its protocol. From its All-Time High, COMP too crashed ~70% and is currently trading at $420. It has currently taken support from the level of $350 and it looks like it is forming a Double bottom kind of formation, further downside seems unlikely. The support to the lower side is present at $280 while it is possible to achieve $550.
Long
by TradeDog-Research
NZDJPY LONGThe Price didn't made a lower low violation of market structure. Price currently sitting support level or neckline for a double bottom . Base on the daily & weekly candle the next candle must open to the upside. The Stop loss is protected by previous low and trend line also S/R level . Price broke the trend or trendline signaling for a reversal . Market structure shows a double bottom pattern signaling to the upside. Multiple confluence for a signal going to the a upside
Long
by vrcruzcruz
OMGBTC double-bottom, wedge challenge?OMGBTC recently had a near breakout from a double bottom w-pattern a few days ago (blue dotted lines). It has since started to retrace (as is common with a double-bottom breakout), however, if it does in fact continue to break upward again, there is some interesting resistance right around the corner. Since 2018, a descending falling wedge has been forming for OMGBTC that has forms a vertex right around the beginning of 2022. Hence there is a possibility for a rise up out from a double bottom breakout to reach up to this wedge in the short term. From there either another push back downward or a breakout can be expected, but it should be interesting which occurs with how soon is the date for the apex of the wedge. It looks like OMGBTC might be a few weeks away from this point, but the direction change to challenge this wedge looks like it may occur in the next few days (if the trend does in fact head upward, as BTC Dominance has recently shown that BTC could also take over in this relationship soon, see my other post for details). Either way it looks to be another point to keep an eye on.
OLong
by crypto_trends
EOSBTC wants the breakout! 🦐The price created a double bottom on the daily timeframe and now the price is testing the daily resistance. IF the price will have a breakout, 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 -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. 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 the Plancton0618 strategy will trigger.
ELong
by InkyGrip
12
Looking to Go Long on NZDCADAfter a nice sell of and a breakthrough of the daily support which is now daily resistance. Price also broke below the previous low, this is known as a a break of structure. This signals that price is no longer bullish and will continue a bearish move. price found support at the monthly/weekly demand zone. Here is where price formed a double bottom, which at the end of bearish movement can serve as a candlestick reversal pattern. Price broke through the neckline of the double bottom and has now began its retrace to test that area. If price can ultimately respect this neckline or do not fall below this current low, I am expecting price to make a nice bullish move to the upside. I am expecting price to pullback and test the "break of structure which also correlates to the daily resistance and the 61.8 fib level. Like if you agree, if you see something else please feel free to comment. I am open to others opinions.
Long
by NoCeilingsTrading
Multi TF Analysis: LTC-USDTFrom the past 7-8 weeks, LTC has been trading in a sideways trend with upper and lower bands at $230 and $160 respectively. After its recent high of $247, LTC took a dip and corrected by more than 30%. However, it started this week with a bang as it is already up by +15% on the weekly basis. On the daily TF, it formed a Double bottom kind of formation and seems it has completed the correction phase. On the higher side, the immediate resistance is placed in the range of $242-$245 , if bulls decisively break this hurdle, a fresh leg to the upside is most likely for the first target of $283 , followed by the next level of $305 . On the downside, the nearest support level is placed at $215 , if this level is breached the next support is available in the range of $201-$204 . MACD is also depicting a positive signal as it has started to re-enter in the positive territory, therefore, a breakout from the resistance can be expected once we get the decisive closing above $245, which will act as a confirmation to go LONG.
COINBASE:LTCUSDLong
by TradeDog-Research
EURNZD Long AnalysisWeekly Price found support and has been consolidating after a long downtrend. The previous weekly candlestick was a large bullish candle, which showed there was a significant amount of bullish pressure. Daily Price appear to have found support and formed a double bottom, which is a bullish candlestick pattern. After the formation of the double bottom, I am expecting price to make a retracement to test the neckline. The neckline also corresponds with the 50.0-61.8 Fibonacci level Here is where I will be looking to enter a long position.
Long
by NoCeilingsTrading
BTC - H1/M15 - WARNING POTENTIAL DOUBLE BOTTOM @ 47520 !H1 : Breakout of the clouds support zone triggered another wave of selling pressure which pushed down the BTC towards a low so far of 47520. Indicators are not showing bullish divergence yet on this time frame. M15 : Picture slightly different where a potential bullish divergence might be seen !!! Therefore, watch carefully price action over the coming M15 period to validate a trend reversal If it is the case watch MBB (48805) as first significant short term resistance level On the downside, an invalidation of a bullish divergence would directly put the focus on the 47000 area ahead of the 45300-43000 pivot support area mentioned on H4
BITSTAMP:BTCUSD
by Ironman8848
EUR /USD Update + Retest of the neckline. Good Day traders !!! On this Pair we have seen a major impulse today and we are sitting at a very strong level of support. On the monthly timeframe we have we have an overextended "W" formation and we just tested the neckline and we are ready to launch !!! Going down to the weekly timeframe we have an M formation and we want to test the neckline which is in confluence of with the 0.5 Fib level taken on the previous impulse. Going down to the daily timeframe we have a H&S that just formed and we want a retest to the neckline which is the same Neckline of the M formation on the weekly timeframe. Everything looks bullish for the moment. From an institutional perspective we have the more short position added on the dollar index which support our bullish idea and also on the Eur on the long run the trend is clearly toward the upside since we are looking at institutions adding long position and closing short positions. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Long
by TheDayzen
6