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Triplebottom

Potential triple bottomThis appears to be a triple bottom forming with the steady trading range we've had and consistent volume. This may indicate a little bit of a bullish move coming in the near future. This being an hourly chart it's hard to take long term predictions from this, but I feel like a key indication will be whether we get a clean break through that hourly resistance at 6560. Due to the signal limit I can't show it on the chart as I believe the indicators showing are fairly important to determining the local trend - But, there appears to be a W-Bottom on the Bollinger Bands as well. I feel like this next week or two will be interesting, I have no strong instinct on where we're gonna go over the next month or two so I'm only taking intra-day trades and taking in the information as I go as for now I don't believe I have enough experience trading with the current market behaviour.
BITMEX:BTCUSD.P
by LookUpTwice
Triple TOP/BOTTOM Reversal PatternTriple Top is a Bearish Reversal Pattern which means the long term uptrend will be switched into long term bearish trend Triple Top chart Pattern means the price with base candles or wicks must touch 3 times in row same level in form of peaks Peak, correction/re-fuel,peak and so on for three times in row These TOPS will become a strong strong resistance line, if after third peak the resistance line can t broke we will have a nice short oportunity First, we need a confirmation about this Triple Top Pattern so we can entry ONLY when we broke the neckline and the target will be the distance of the neckline and TOP Triple Bottom is a Bullish Reversal Pattern which means after a long downtrend the coin will change their trend to LONG TERM BULLISH We can see in this picture 3 times tried to break the huge support but they can t and after this we can say that was the BOTTOM The price of coin will increase but we can enter into this trade ONLY when we are about the neckline which is a strong resistance If we are closing above neckline(resistance will be transformed into support) and also we can continue to grow Target is the distance from BOTTOM(support) and Neckline
Education
by CryptoRomaniaTD
AUDJPY (H4): Approaching LT Trendline, ST Triple Bottom FormedAUDJPY Timeframe: H4 Direction: Long Confluences for Trade: - Stochastic Oversold momentum - Close to Strong Resistance of L/T Trendline (since May 2016) - S/T Triple Bottom Formed Suggested Trade: Entry @ Area of Interest 79.12 -79.85 SL: 78.62 TP: 81.14 RR: Approx. 2.00 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Long
by weekendanalyst
NZDJPY Triple Bottom ReversalNZDJPY market is overall in bearish bias but the market formed triple bottom on daily time frame with small tail pin bar on weekly TF from a strong support . On daily TF market printed bullish Price Action signal showing a reversal from strong Daily/Weekly Support Level (72.50-72.25). I suggest Bullish reversal upto 73.60 and 74.30. Disclaimer: Any post/comment is not a trading recommendation or investment advice but a thought shared by author who is not professionally certified or regulated to provide market research, analysis or investment advice. Author cannot be hold responsible for any loss occurs because of his comments. Manage your own risk.
Long
by Nomikhan
ZEC/ETH Long-Term BottomDue to a mix of fundamental and technical factors, I believe the price of ZEC has bottomed relative to ETH, which may lead to substantially higher ZEC prices in the near future. Currently ZEC has relatively little use outside of speculation, which results in periods of intense demand and rapid price increases. Demand is particularly strong following news about ZEC, such as new exchange listings, but this demand eventually drops off when ZEC falls out of the news cycle. This demand imbalance means that the overall supply and demand dynamics of ZEC are particularly sensitive to miner activity, and whether the amount of newly mined ZEC being sold is greater than or equal to the current demand for ZEC at market price. An excess of supply at the current market price naturally leads to lower prices. Miners are motivated entirely by profit, so their motive to sell ZEC must logically be incentivized by profit. GPU miners in particular have been known to switch between mining different algorithms in order to maximize their returns. Historically, AMD cards achieved their highest returns mining Ethash, while Nvidia cards achieved their highest returns mining Equihash. Miners with 1080ti's who wanted to accumulate Ether were better off mining ZEC and exchanging it for ETH, resulting in selling pressure on the ZEC/ETH pair. Due to the recent increases in Zcash network difficulty this is no longer economical and thus a significant source of selling pressure has disappeared. Miners who accumulate coins rather than sell them may also be shifting from ETH to ZEC, as seen in the ZEC/ETH trading pair. The trading pair has been in decline since Zcash's inception, from highs of over 200 all the way down to 0.42 today. Miners who did not immediately sell mined ZEC for ETH (or BTC) missed out on huge profits. However, this trend may be coming to it's conclusion. Looking at the ZEC/ETH chart, a large falling wedge pattern has formed over the course of the last 16 months. The pattern is well defined with no less than 5 reaction highs and lows, in addition to consolidating volume. The pattern saw a false breakout to the downside in January reaching a low of 0.33 on February 1st, followed by a strong move back above 0.5. The new low was tested in May, reaching 0.347 on May 13th, followed again by a quick move above 0.5 on huge volume. This event marks the breakout of the falling wedge pattern. Since that date, the trading pair has fallen back to test the upper trend line of the wedge, and has made what appears to be a triple bottom formation at 0.35. This pattern will be confirmed with a strong move above the 0.50 level on increasing volume.
Long
by vmarche
EURUSD Off Of Triple BottomEURUSD is has been trading lower along the supply line these last months. At this point, some demand is expected to enter this market, there is a triple bottom support area around 1.1515 and the overall trend seems to be overextended. There hasn't even been a pullback to 0.382 of the setup bear leg. Long entries around the triple bottom area with stops below 1.1470 and looking for 1.5R-2R targets seems reasonable at this point. Worth a try.
Long
by Zoen_Trieste
3
DO MARKET FEELS GREED OR FEAR THAT IS THE QUESTIONPrice movements occurs like a waves. You can check it by looking its momentum. When momentum starts to slow you can know that trend reversal not far away. You can also double check it with markets current situation. There is a greed or fear? You can't just make the same think with crowd. You are making trade. If you want to sell something to them you should buy it when noone wants to buy. Is bitcoin gonna break its market structure and drop like there is no tomorrow? I don't think so. Nothing has changed you are just thinking like that because of price. Purple lines shows divergences and yellow areas and keltner channels show oversold and overbougth situations. I think there is a clear pattern that bitcoin repeats. White horizontal lines support area.
BITFINEX:BTCUSDLong
by dr.orientem