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Double Bottom

#ETH/USDT Bulls in Control#ETH/USDT pair has recently formed a double bottom pattern, finding significant support within a crucial trend box area. This pattern suggests a potential reversal of the previous downtrend and signifies a bullish sentiment in the market. With the double bottom formation in place, Ethereum is likely to experience upward momentum, aiming to retest the $3000 resistance level. Traders and investors are closely monitoring this development, anticipating a continuation of the bullish trend as Ethereum moves towards challenging key resistance levels. This pattern highlights a shift in market sentiment, with buyers gaining confidence and driving the price higher in anticipation of further gains.
BINANCE:ETHUSD.PLong
by crypto_vulture_signals
#BTC/USDT Rebound Sparks Optimism#BTC/USDT has recently shown promising signs of a potential relief rally, supported by the formation of a double bottom pattern and bullish divergence. A double bottom typically indicates a reversal pattern, suggesting that selling pressure may have exhausted and buyers are stepping in. Concurrently, bullish divergence, where price forms lower lows while the indicator (like RSI) forms higher lows, signals weakening bearish momentum and a possible trend reversal. This combination of technical indicators implies that Bitcoin could be poised for a relief rally, with a target retest of the $62,500 level. However, as with any market prediction, it's essential to monitor price action and volume to confirm the validity of the pattern and divergence. Traders should remain cautious and implement risk management strategies accordingly.
BINANCE:BTCUSD.PLong
by crypto_vulture_signals
#SOL/USDT Surges After Retesting 0.5 Fibonacci LevelThat sounds like a bullish scenario for #SOL/USDT! Here's a description you could use: "#SOL/USDT has recently formed a double bottom pattern on the 1-hour time frame, coinciding with a bullish divergence, indicating a potential trend reversal. The price has also formed a double bottom pattern on a larger time frame, further confirming the bullish bias. The next significant resistance level for SOL/USDT is around $160. If the price manages to break above this level, we could see a continuation of the upward trend, with the next target around $200. Traders should monitor the price action closely, as a failure to break above the $160 resistance could lead to a retest of the support levels. However, the current technical setup suggests a bullish outlook for SOL/USDT in the short to medium term." This description highlights the technical factors supporting a bullish outlook for SOL/USDT, including the double bottom patterns, bullish divergence, and potential upside targets.
Long
by crypto_vulture_signals
#ETH/USDT Rebounds Strongly: Golden Ratio at Play#ETH/USDT has formed a double bottom pattern and is currently bouncing from the golden ratio (0.618 Fibonacci retracement level), indicating a strong support level. The next significant resistance level is around $3350. If Ethereum manages to break above this resistance, we could see a further upward movement towards the $4000 mark. The double bottom pattern is a bullish reversal pattern, suggesting that the price could continue to rise after a period of consolidation or decline. The bounce from the golden ratio adds to the bullish case, indicating that buyers are stepping in at key technical levels. However, it's essential to monitor the price action closely, as a failure to break above the $3350 resistance could lead to a retest of the support levels. Traders should also consider other factors such as market sentiment, news events, and overall market conditions when making trading decisions.
BITSTAMP:ETHUSD
by crypto_vulture_signals
Banking Stock - Keep An Eye - BANKBARODA📊 Script: BANKBARODA 📊 Sector: Banks 📊 Industry: Banks - Public Sector Key highlights: 💡⚡ 📈 Script has given breakout of Double Bottom pattern but didn't sustain keep an eye on it we may see good rally. 📈 One can go for Swing Trade above 284. BUY ONLY ABOVE 284 ⏱️ C.M.P 📑💰- 281 🟢 Target 🎯🏆 - 311 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:BANKBARODALong
by radha_23
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