Descending Triangle formation by ETH price action. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Let us see if this triangle will be bearish or bullish. I believe its a bullish as it also is forming a W double bottom in shorter time frame, and we might see an uptrend...
PLAN confirms a "Double Bottom" pattern, target $90 , #DoubleBottom.
Possible DOUBLE BOTTOM on FTM, double bottom confirmed if breaks neckline of ~$0.72873, Short Term Target ~$0.8493. NOT Financial Advice.
Rejected at Resistance established June 2020 with an attempt to continue bullish. We now have a double top with bearish divergence observed on the D chart.
THE CRYPTO CURRENCE HAS FORMED A REVARSEL PATTERN AT 1 TF
GTUSDT|BULISH DUETO FORMATION OF DOUBLE BOTTOM AIMED TO BOUNCE AT THISE AREA
As seen in the analysis price could continue the push up until it reaches the previous high and forms a double top on the 4H timeframe after which wait for sell confirmations at the 1.218 levels. However it is to note that price could reverse at this level and continue in a down trend to complete the H&S on the daily timeframe. if any buy confirmations at 1.218...
Trading Support with a double bottom. 79% retracement along with it.
M1 : Still in its ongoing uptrend channel. May closing level will give clues for June. W1 : Under the influence of a major double top formation trigger level being @ 12'207 Last week price action triggered a low of 12'915 which hold Kijun-sen level ! Nice recovery triggered by this rejection and as a result W1 closing level is above the cluster of MBB and TS.. but...
That pattern (Descending triangle) used to be super bullish this cycle. Is it going to keep 100% Breakout to the upside accuracy? Check out the log charts on my channel as well!
RSI is showing a consistent double bottom at the 50 value. This corresponds with the several double bottom patterns on this short term chart.
As long as price does not exceed 1955.455 and below trendline, bullish is in control overall.