📖Quick Technical Analysis Education
Double Bottom
🔸A double bottom is a pattern creates a W-shaped movement. It indicates that after two lows, there will be a significant increase in price after a confirmed breakout on its neckline.
🔸This is also called a reversal pattern from downtrend to uptrend
📝Simple steps to Identify double bottom:
✅Identify the two distinct bottoms of similar width and height
✅Distance between bottoms should not be too small - time frame dependent
✅Confirm neckline/resistance price level
Double Bottom
🔸A double bottom is a pattern creates a W-shaped movement. It indicates that after two lows, there will be a significant increase in price after a confirmed breakout on its neckline.
🔸This is also called a reversal pattern from downtrend to uptrend
📝Simple steps to Identify double bottom:
✅Identify the two distinct bottoms of similar width and height
✅Distance between bottoms should not be too small - time frame dependent
✅Confirm neckline/resistance price level
📖Quick Technical Analysis Education
Ranging Market
✅A ranging market is a market structure where the prices move back and forth between a price range of a high price level and a low-price level.
✅The highest price level is formed with a resistance line, whereas the lowest price level is formed with a support line.
✅Traders depend on these lines to place ideal entry or exit orders in the market.
Ranging Market
✅A ranging market is a market structure where the prices move back and forth between a price range of a high price level and a low-price level.
✅The highest price level is formed with a resistance line, whereas the lowest price level is formed with a support line.
✅Traders depend on these lines to place ideal entry or exit orders in the market.
BTC Quick Take:
🔸Bitcoin has been in a sideways trend since its drop in November 2021. The key levels to watch are still 18k for resistance and 15k for support.
🔸Another important level to consider is the EMA100 which serves as its Daily chart dynamic resistance.
🔸Currently, the price is flat and it appears that there is not much demand in the market. If there is a shift in volatility, it is likely that the price will either test the lower range again or try to reach the upper range
🔸Bitcoin has been in a sideways trend since its drop in November 2021. The key levels to watch are still 18k for resistance and 15k for support.
🔸Another important level to consider is the EMA100 which serves as its Daily chart dynamic resistance.
🔸Currently, the price is flat and it appears that there is not much demand in the market. If there is a shift in volatility, it is likely that the price will either test the lower range again or try to reach the upper range
#EOS moves between the support and resistance level and if it can break the resistance level, it will follow path 1
#USDT is moving in a rising wedge, which is getting closer with each candle close. A rising wedge is technically a bearish pattern.
might see a last upward trap to take liquidity above the equal highs before the breakdown of the rising wedge.We've to keep an eye on a high volume breakdown to confirm a downward direction in USDT to hit the lower marked horizontal support .
might see a last upward trap to take liquidity above the equal highs before the breakdown of the rising wedge.We've to keep an eye on a high volume breakdown to confirm a downward direction in USDT to hit the lower marked horizontal support .
#Chainlink has been quietly building during this bear market.
💥As evidenced by the increasing number of active developers working on the #LINK project seen in the illustration.
💥Despite market uncertainty, the developer activity on #LINK remains strong
💥As evidenced by the increasing number of active developers working on the #LINK project seen in the illustration.
💥Despite market uncertainty, the developer activity on #LINK remains strong
#Bitcoin is significantly undervalued based on its historical performance. This has only happened four times before in the entire history of Bitcoin
💥November 2011
💥January 2015
💥December 2018
💥March 2020
💥November 2011
💥January 2015
💥December 2018
💥March 2020
#SHIB_USDT:
#SHIB Showing Ascending traingle. Wait for break down to confirm Bearsish sign ✅
https://www.tradingview.com/x/QpAfRip6/
#SHIB Showing Ascending traingle. Wait for break down to confirm Bearsish sign ✅
https://www.tradingview.com/x/QpAfRip6/
TradingView
TradingView Chart
Bitcoin is trying to break the small channel. If BTC able to break above $17,000 level then we see a move toward the upper resistance of the trading range. We will also see some upward movement in altcoins if BTC holds above $17,000.
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