Scallop has already broken the downtrend line and gone up to the first resistance area. If this area breaks too, the next horizontal area is the next target.
The SCLP chart is probably one of the most bullish bottomed out altcoin charts out there in crypto.
I expect it to reach up to $2 within the next 3 months.
besides the great chart they have a awesome product (DYOR) with loads coming this year.
All of this is of course dependant on what Bitcoin does.
let's see what happens.
This ascending scallop or ascending curve provides support for price as it completes this pattern.
Once finished the pattern price makes another move upwards which I have shown with the bars pattern.
Bullish on this 4Hr chart
The scallop pattern is nearly finishing with price settling at the top of the pattern.
I expect a move upwards to conclude a W like structure that I have pasted with the bars pattern tool.
Similar W patterns can be seen in the past along the ascending scallop.
Starting with a clean chart...
A look at the weekly shows an extended V bottom, the V bottom is often seen as a recovery formation. Should the price fall below $0.52 I consider the formation eliminated. With the "extended" V bottom, the sideways (extended) consolidation phase serves as a pause and often resembles the shape of a channel or bull flag .
I zoom in on...
Starting with a clean chart...
A look at the weekly shows an extended V bottom, the V bottom is often seen as a recovery formation. Should the price fall below $0.52 I consider the formation eliminated. With the "extended" V bottom, the sideways (extended) consolidation phase serves as a pause and often resembles the shape of a channel or bull flag .
I zoom in on...
Starting with a clean chart...
A look at the weekly shows an extended V bottom, the V bottom is often seen as a recovery formation. Should the price fall below $0.52 I consider the formation eliminated. With the "extended" V bottom, the sideways (extended) consolidation phase serves as a pause and often resembles the shape of a channel or bull flag.
I zoom in...
Hello and Welcome to this analysis
HINDUSTAN UNILEVER the FMCG giant in hourly time frame is forming another ascending and inverted scallop bullish formation.
Ascending & Inverted Scallops have a success ratio of approx 70%. They are found in bullish trends and their formation works wonderfully with Fibonacci ratios as found in this case.
It looks good for...
Have been going over a few things and here are my observations.
1. Three rising valleys usually occur during previous uptrends, however this isn't always the case.
2. Valleys appear in their last phase and have formed a rounding bottom which could create a inverted scallop (usually a very bullish sign)
3. 24,000 area has shown itself as consistent resistance...
US10Y on this daily timeframe shows a large descending scallop
On the right another example of this pattern is shown, however just it has been completed
Descending Scallops are a bullish reversal pattern
In the chart above AUD/USD has formed two Inverted and Ascending Scallops. These chart patterns look like the right side of an umbrella. The price quickly rises, before levelling off near the top in an inverted cup formation. The beauty of these patterns is they perform very well in both bull and bear markets.
Breakeven Failure rate: 9%
Average Rise:...
IEF on this ascending scallop has undergone many dumps along the scallops history
This is just another one
Added a falling wedge pattern for a little flare
![SCLPUSDT: RIP To Those That Are Selling SCALLOP [SCLP] At These Levels.](https://s3.tradingview.com/a/ANSkmatU_mid.png "RIP To Those That Are Selling SCALLOP [SCLP] At These Levels.")
