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ETH: BULLISH PATTERN RETEST!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ETH/USDT update. ETH looks good here. ETH is forming an ADAM&EVE bullish pattern in an 8hr time frame. After the breakout of the neckline currently, it is retesting it. After this successful retest, we can expect a good pump in the price of ETH. All we need is to hold the neckline which is in the range of $3150-$3250 level. If any candle closes below this level then this chart becomes invalid. What do you think about this? Do you think this is a successful retest or we can see more dump in ETH? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
4
ETHUSD above the necklines of 3 very bullish patternsNot only is ETHUSD’s price action currently above the neckline(tan trendline) of a descending inverse head and shoulder. It’s also above the neckline of 2 different double bottom patterns. (Green and yellow horizontal trendlines). The right shoulder of the inverse head and shoulder pattern is actually also a valid double bottom pattern on the 4hr timefram(daily time frame shown here instead of 4hr). Also, The head of the inverse head and shoulder and the right shoulder combined also create somewhat of an Adam and Eve double bottom, similar to the one playing out currently on cardano. We are only just now having price action poke its head above the inv h&s neckline though and since, as is usually the case, patterns rarely trigger their breakout on the first break of the neckline we could still see price action retrace below this neckline before the real breakout occurs. There’s always a chance this is the real breakout too though so the best thing to watch for on the initial neckline break is whether or not we getting any sort of major bullish impulse in the volume to help confirm an official breakout. I cou;d see a breakout fakeout going as high as to test the 200ma then get rejected and fall back below the neckline, before it finally has the break break above it. So we must remain vigilant. In the long run i think these patterns will confirm their bullish breakout eventually but am not yet sold on the current 1 day candle being the breakout candle just yet.
COINBASE:ETHUSDLong
by DrDovetail
BTC: A BULLISH PATTERN BREAKOUT SOON!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC/USDT update. BTC doing pretty good so far. In my previous analysis (Check the link given below), I told you that BTC hit the $45k level and exactly the same happened. So what's next? Now, BTC is facing some strong resistance level at $45k-$46k which is tested 3-4 times in the past but is unable to close above this level. But this time I'm expecting BTC to break this hurdle and ready to explore the $50k mark. In the daily time frame, BTC made a beautiful Adam&Eve pattern which is very bullish. All we need is to break the resistance line. Once we break the resistance line it will pump hard. I'm expecting a lot of greenery in BTC in the months of April and May. The next supports for BTC are $42k and $40.5k What do you think about this? Do you think that we break the resistance line this time or once again it falls from here? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
8
Cardano looks ready to trigger an Adam & Eve double bottomWe can see considerable amount of volume has accompanied the current big green candle that has broken above the Adam and Eve double bottom neckline here. This type of volume impulse usually signifies that a breakout of a pattern has been confirmed. However, this being only a 4hr timeframe, we must be prepared as always for the first breach of the neckline to potentially be a fakeout. For now though, it is looking like it wants to validate and head up to the $1.28 region.
COINBASE:ADAUSDLong
by DrDovetail
CRM - Adam & Eve reversalThis recent rebound in CRM could have momentum for a sustainable swing up with a confluence of the following technical factors: 1. mini Adam & Even bullish pattern locking in the near term bottom 2. Tested a longer term support zone (apparent on weekly chart) 3. Formation of a strong bullish engulfing weekly candle 4. Good RSI strength (>50) Theoretical swing target of between 240-248 (gap fill). Will we get there? Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
NYSE:CRMLong
by Juliac
Double Tops & Bottoms - Advanced AnalysisDouble tops/bottoms are relatively frequent and easy formations to identify and use. In this post, we provide a description of each pattern, implications, respective measure rule, as well as the variations described by Bulkowski. We also review the literature on these patterns in order to find various observations as well as a theoretical explanation of their occurrence. 1. Double Tops Double tops are a bearish pattern commonly found in uptrends and characterized by two consecutive peaks located at a similar level, separated by a trough. Bulkowski suggests that the absolute relative distance between the two peaks should be within 6%. The first peak is followed by a 10/20% decline. The location of the trough in the formation forms the "confirmation" level. The price breaking this level signifies the completion of the pattern, and a short position should be opened. In order to avoid fake breakouts, Bulkowski suggests a 5% decline below the confirmation level. Volume is generally declining during the formation of a double top. The time separating two peaks is an important factor when it comes to determining the validity of a potential double top. This separation should be in accordance with the duration of the uptrend before the peaks. Peaks that are too close to each other are not indicative of a double top, while an excessive time separation might indicate that the prior uptrend is outdated. Double top on OIA daily. 2. Double Bottoms Double bottoms are a bullish pattern commonly found in downtrends and characterized by two consecutive troughs located at a similar level, separated by a peak. Bulkowski suggests that the absolute relative distance between the two troughs should be within 6%. The first trough is followed by a 10/20% rise. The location of the peak in the formation forms the "confirmation" level, the price breaking this level signifies the completion of the pattern, and a long position should be opened. In order to avoid fake breakouts, Bulkowski suggests a 5% decline above the confirmation level. Volume is generally declining during the formation of a double bottom. Like with double tops, the time separation between two troughs should be in accordance with the duration of the downtrend prior to the troughs. The observations on the matter previously described for double tops also apply to double bottoms. Double bottom on CFFN daily. 3. Measure Rule The measure rule allows for the determination of the amplitude for the expected price move after a breakout of the confirmation line. This also allows for the trader to decide the location of take-profits/stop-losses when trading double top/double bottom patterns. For double tops, the take profit is determined from the height given by subtracting the formation highest peak with the trough. The height is then subtracted from the formation trough. For double bottoms, the take profit is determined from the height given by subtracting the formation peak with the lowest trough. The height is then added to the formation peak. Another rule suggests an expected price movement after breakout equal to 73% of the distance between the formation highest peak and the formation lowest low. 4. Eve/Adam Variations Bulkowski classifies double tops and double bottoms into four distinct types: - Adam & Adam - Adam & Eve - Eve & Adam - Eve & Eve The term Adam and Eve is given to peaks/troughs depending on their width, with the term Adam given to narrow (V-shaped) peaks/troughs and the term Eve given to wider (U-shaped) peaks/troughs. There aren't large scale studies quantifying the accuracy of each of these variations, Bulkowski ranks each one of them as follows (lower is better) (1): For double tops: - Adam & Adam: 19 out of 36 - Adam & Eve: 10 out of 36 - Eve & Adam: 16 out of 36 - Eve & Eve: 12 out of 36 For double bottoms: - Adam & Adam: 26 out of 39 - Adam & Eve: 17 out of 39 - Eve & Adam: 20 out of 39 - Eve & Eve: 5 out of 39 Note that such classification is not always used by traders. Example of Adam & Eve double top on LEO daily. 5. Observations The big M and big W patterned described by Bulkowski are variations of the double top/bottoms. The analysis conducted by Caginalp and Balevonich shows that double formations can be the consequence of identical equilibrium prices with slightly differing undervaluation (2). 6. References (1) Bulkowski, T. N. (2021). Encyclopedia of chart patterns. John Wiley & Sons. (2) Caginalp, G., & Balevonich, D. (2003). A Theoretical Foundation for Technical Analysis. Capital Markets: Market Microstructure eJournal.
BITSTAMP:BTCUSDEducation
by LuxAlgo
30