Ethereum Price Technical Analysis – Double Bottom Formation?
Ethereum price is currently struggling against the US dollar, but as long as it is above the $10.80 level it may bounce again. Key Highlights. Ethereum price failed to retain the bullish bias against the US Dollar and faced offers near $11.50. The ETH/USD pair fell down, and currently facing as a major resistance in the form of a bearish trend line on the hourly chart (data feed via Kraken). There is a chance of a double bottom pattern on the hourly chart, which may take the price higher. Ethereum Price Support. Ethereum price ETH climbed higher yesterday and broke the 100 hourly simple....
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Ethereum (ETH) has witnessed a notable resurgence, reclaiming ground after hitting a crucial support level at $1,500. As traders analyze the daily time frame, it becomes evident that this resurgence may signify the formation of a bullish reversal pattern, known as a double bottom. A double bottom is a classic technical analysis pattern that often […]
Bitcoin price has formed a double bottom on its 1-hour time frame but has yet to break above the neckline before confirming the reversal. Bitcoin Price Key Highlights. Bitcoin price has been trending lower recently but it looks like sellers are tired from the decline. A small reversal pattern can be seen on the 1-hour time frame, possibly indicating a short-term reversal. Price has failed in its last two attempts to break below the $645 level, creating a double bottom formation. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance....
Bitcoin Price Key Highlights. The bitcoin price rally has been proven unstoppable, with bulls pushing for new highs past the $400 and $450 psychological resistance levels. Bitcoin price even completed an upside break past a double bottom formation visible on the daily time frame. Bitcoin price could be in for much more gains, as three bullish candles formed after the confirmation of a long-term uptrend signal. Aiming for $500? No signs of a major correction or even a slight pullback are materializing for now, which suggests that bullish pressure continues to build up. If so, bitcoin price....
Bitcoin price could be due for a short-term uptrend once it confirms this reversal formation, but technical indicators are suggesting otherwise. Bitcoin Price Key Highlights. Bitcoin price has sold off sharply recently but it looks like bears may be tired from the dive. A small double bottom pattern has emerged after price failed in its last two attempts to break below $565. Price has yet to break past the neckline at $575 before confirming the potential rally. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In....
Many successful traders look for double bottom and W bottom reversal patterns on technical charts in order to spot powerful price reversals. Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed direction.While several patterns signal a possible trend change, one of the easiest to spot is the double bottom pattern. This can help traders change their strategy....