If YES i expect to see Adam & Eve Double Bottoms
BTCUSD
This is just my opinion, please DYOR.
Overview
Adam is a term that describes how the bottom looks, in this case, a narrow, pointed bottom, perhaps with a one-day downward spike. Eve bottoms are more rounded looking and wider. If they have spikes, they tend to be more numerous and shorter. Many times the difference between Adam and Eve is the width of each over their entire height. Adam bottoms tend to remain narrow but Eve bottoms widen over their height. When trying to decide which is which, ask yourself if the two bottoms appear different or similar. With Adam & Eve, the two should look different (the first narrow and the second wide).
Adam & Eve Double Bottoms Bull Market Results
Overall performance rank (1 is best): Not available
Break even failure rate: 17%
Average rise: 42%
Throwback rate: 67%
Percentage meeting price target: 66%
Adam & Eve Double Bottoms Identification Guidelines
Price trend Downward leading to the pattern.
Shape Two distinct valleys that look different. Adam bottoms appear first and are narrow, V-shaped, sometimes with one long price spike. Eve bottoms appear after Adam and are wide and more rounded looking. Spikes that appear tend to be more numerous and shorter on Eve bottoms.
Peak The rise between bottoms should measure at least 10%, but allow variations. Tall patterns perform better. The link discusses performance of short and tall chart patterns.
Bottom price The price variation between bottoms is small. The two valleys should appear to bottom near the same price.
Separation The average separation between bottoms is almost two months.
Confirmation The double bottom confirms as a true double bottom once price closes above the peak between the two valleys. See the figure to the right. Without confirmation you do not have an Adam & Eve double bottom, just squiggles on a chart.
What do you think guys? Please share your point of view!
BTCUSD
This is just my opinion, please DYOR. Overview
Adam is a term that describes how the bottom looks, in this case, a narrow, pointed bottom, perhaps with a one-day downward spike. Eve bottoms are more rounded looking and wider. If they have spikes, they tend to be more numerous and shorter. Many times the difference between Adam and Eve is the width of each over their entire height. Adam bottoms tend to remain narrow but Eve bottoms widen over their height. When trying to decide which is which, ask yourself if the two bottoms appear different or similar. With Adam & Eve, the two should look different (the first narrow and the second wide).
Adam & Eve Double Bottoms Bull Market Results
Overall performance rank (1 is best): Not available
Break even failure rate: 17%
Average rise: 42%
Throwback rate: 67%
Percentage meeting price target: 66%
Adam & Eve Double Bottoms Identification Guidelines
Price trend Downward leading to the pattern.
Shape Two distinct valleys that look different. Adam bottoms appear first and are narrow, V-shaped, sometimes with one long price spike. Eve bottoms appear after Adam and are wide and more rounded looking. Spikes that appear tend to be more numerous and shorter on Eve bottoms.
Peak The rise between bottoms should measure at least 10%, but allow variations. Tall patterns perform better. The link discusses performance of short and tall chart patterns.
Bottom price The price variation between bottoms is small. The two valleys should appear to bottom near the same price.
Separation The average separation between bottoms is almost two months.
Confirmation The double bottom confirms as a true double bottom once price closes above the peak between the two valleys. See the figure to the right. Without confirmation you do not have an Adam & Eve double bottom, just squiggles on a chart.
What do you think guys? Please share your point of view!