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 & Adam, the two should look similar (both narrow).
he chart pattern is a twin bottom formation that sports a low break even failure rate but a mediocre performance rank.
The pattern becomes a true double bottom when confirmed (that is, when price closes above the center peak).
Only then is it safe to buy, but that does not guarantee success. If you buy the coin before confirmation, the probability of having a successful trade drops to just 36%.
A full 64% of the time, price fails to close above the peak after forming a twin bottom. Until confirmation, the squiggles on the chart are just that -- squiggles -- not a double bottom.
Price trend Downward leading to the pattern, Two distinct valleys that look similar. Adam bottoms are narrow, V-shaped, sometimes with one long price spike.
The rise between bottoms should measure at least 10%, but allow variations.
The price variation between bottoms is small. The best performance comes from bottoms between 2% and 5% apart. The two valleys should appear to bottom near the same price.
The twin valleys are several weeks apart with most falling in the 1 to 2 week range. Wider than 5 weeks and performance deteriorates.
The double bottom confirms as a true double bottom once price closes above the peak between the two valleys.
Volume Usually higher on formation of the first bottom.
Technicals suggests that price is currently at the at the resistance level( which is the peak of the 2 valleys), abreakout will likely happen any moment.
STOP LOSS: 0.00010776sats
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.