Subscribe
March 20, 2026
Sign In

Capitalizations Index – B ∞/21M

Menu
Breaking
Lightning Network: Boosting Bitcoin Speed and Cutting Costs Bitcoin Transactions Enabled via Radio Waves and Satellites Bitcoin’s Versatile Use: Goods, Services, and Real Estate Bitcoin as Digital Gold: Explaining Its Value and Role Understanding Bitcoin Criticism: Energy, Volatility, and Risks

Another Double Bottom for Bitcoin? Part 2

Another double bottom for bitcoin? Part 2

Another Double Bottom for Bitcoin? Part 2

I have moved this analysis to a new chart, seems it was registered under the XBT” charts.

So the wedge failed (partially) as well, this shows the intention of the market was upwards. We can simply sate now, that the 3300/3200 is a level where buyers are stepping again, they like this level to buy it up. That 3320 (green zone on the right did it’s work again.
The previous high at 3990 has been broken and now it seems the 3420/40 has been broken as well. My best guess for now is, making a small bull flag . If that happens and it looks good, i think we can move to the 3600. This will be the key level for the double bottom pattern. If it goes like this, we should be able to see the 4000 this week.

To stay objective, there is another version and that is the triangle we can see on the left. If the bulls will fail around this level and start to drop again towards the lows, than we can forget about the W bottom pattern and have to assume the triangle is in play. With a triangle, it can still break both ways, but at this spot, a bearish break is more likely.

Please don’t forget to like if you appreciate this.

Chart of the last update.


Snapshot

Important chart as well: The one on the right, similar to the 3500/3600 zone


Snapshot

Don’t forget to read the previous analysis if you want to be up to date:


Another double bottom for bitcoin?

Published at Wed, 12 Dec 2018 11:45:08 +0000

Previous Article

CVE-2018-17144 Full Disclosure

 Next Article

Crypto Exchange Gemini Launches New Mobile App

You might be interested in …

Ether Price Analysis: Eve and Adam Could Be Turning Back the Bulls

Ether Price Analysis

Since bottoming out around $200, ether has spent several weeks bouncing back and forth inside an ascending channel:

Figure_1 (15).JPGFigure 1: ETH-USD, 4-Hour Candles, Ascending Channel

For the last month and a half, ether’s trend has been contained within the bounds of this ascending channel, where it has continued its bullish rally. However, today (as of the time of this article) it is starting to make moves to aggressively test the lower boundary. Specifically, as ether tests this channel, it is forming a potential reversal pattern called an Eve-and-Adam Double Top.

Figure_2 (12).JPGFigure 2: ETH-USD, 1-Hour Candles, Eve-and-Adam Double Top

At the time of this article, ether is attempting to break the neckline (the pink dashed line) of the massive reversal pattern. Should ether break this neckline, the measured move from this pattern is a $30 move downward, which would ultimately shove ether outside the bullish ascending channel it has been trending within. The price target of the Double Top breakout would bring the ETH-USD price into the upper $200s.

On a macro scale, ether has support along the following Fibonacci levels:

Figure_3 (12).JPGFigure 3: ETH-USD, 4-Hour Candles, Fibonacci Levels

Should the ascending channel break, the above Fibonacci levels will provide support and will need to be tested in order to prove a bearish continuation. As of the time of this article, the Double Top mentioned in Figure 2 is sitting right on the 23 percent retracement values where it is making attempts at breaking it. There is strong support at these values, so if ether can break and hold below $315, it will send a strong bearish signal to the market.

Should the Double Top complete, we can expect a test of the 38 percent retracement values following the break of the ascending channel. At this time, the 4-hour MACD is showing strong bearish momentum on a macro scale, and the market is picking up sell volume.

Summary:

  1. For weeks, ether has been trending within an ascending channel.

  2. Ether is currently in the process of making a strong test of the ascending channel via an Eve-and-Adam Double Top reversal pattern.

  3. If the Double Top breaks downward, we can expect a break of the multi-week bullish channel and a test of the 38 percent Fibonacci Retracement values.

Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Ether Price Analysis: Eve and Adam Could Be Turning Back the Bulls appeared first on Bitcoin Magazine.

Close Menu