Bullish Trend Reversals - The Tweezer Bottom Chart

Bitcoin Price Prediction for June 24, 2016

Market Commentary (BTC):
All aboard!!! Within a matter of 24 hours traders went from jumping for life boats to desperately trying to hop back on the luxury liner. The main catalyst for the overnight rally was the successful Brexit vote in the UK, which was highly unexpected and apparently not all that well prepared for.
​Global forex and equity markets are getting slammed lower, gold and sovereign bonds are ripping higher, industrial commodities are underperforming, and cryptocurrency (bitcoin) is catching and keeping a bid. While we would not be surprised to see a pullback over the weekend as the market continues to digest the implications of the referendum outcome, we think there is a pretty good likelihood that the 555 $ bear trap low is all we'll get before another run at the highs.
Let's take a look at the 4-hour chart below for more detail on the short to medium term forecast. We can see that the market did indeed put in a local bottom at the 555 $ level, which was right in the middle demand area on either side of the 200 SMA. Then following a tweezer bottom the market began to press to the upside as the tides turned in the UK vote, and when the near term EMA's and MT uptrend line were broken higher we saw even more FOMO kick in...
Graph: https://www.bullbearanalytics.com/free-reports/bitcoin-price-prediction-for-june-24-2016
submitted by bullbearanalytics to CryptoMarkets [link] [comments]

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Tweezer Bottom formation consists of two candlesticks: Bearish Candle (Day 1) Bullish Candle (Day 2) Sometimes Tweezer Tops or Bottoms have three candlesticks. A bearish Tweezer Top occurs during an uptrend when bulls take prices higher, often closing the day off near the highs (typically a strong bullish sign). Trading tweezer bottoms is a good strategy on daily charts too. If you find a stock that is oversold on a daily chart, hits a historic support level on a weekly chart, and forms a tweezer bottom, that's going to attract some traders eyes. Some people strictly scan for double bottom patterns, with a tweezer bottom on the daily candlestick time ... Home Stock Charts Chart Patterns Technical Indicators. Thursday, November 12, 2020 7:32 PM. The Tweezers Top and Tweezers Bottom Patterns. Tweezers Top and Tweezers Bottom . The Tweezers pattern is a minor trend reversal pattern that consists of two candlesticks with more or less the same high or a same low or some variation thereof. It is the only candlestick pattern where the highs or lows ... What we are doing with the tweezer bottom is looking for reasonable confidence that the selling has subsided and buying has returned. But a tweezer bottom is just one possible configuration that a bearish trend can have when it turns bullish. False positives happen when a tweezer bottom forms but the price resumes its fall afterwards. In other ... Best Places On Charts To Trade tweezer bottom and tweezer top candlestick patterns? So why is understanding the psychology of the formation of the tweezer important to you as a forex trader? Answer: so that when you see the tweezer tops and patterns form on important level on the charts (support and resistance levels), you will quickly know who the dominant side is and trade according to that ... 81.80 - 80.80 is the key area of support. Two pin bars was formed side-by-side, or another forex term "tweezer bottom" can be spotted on the Weekly chart. Will decide whether to Long the market when it opens tomorrow. Stay tuned. ** This is not a But/Sell recommendation ** ** Please do your own due diligence ** Finds tweezer tops and bottoms which are often great reversal points. Signals are shown as TT & TB on charts. I've use strict rules here, so if you feel it's missing solid signals PM me with the details and I'll look into expanding the rules a bit. This also has an RSI filter to reduce false signals. If you like this you'll probably also like my Pin Bar Finder indicator.

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Tweezer Tops & Tweezer Bottoms Candlestick Chart Patterns

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