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IAby u/iahmed·2dAnalysis

$CRV 0.2405: Seeing a potential double bottom forming, but not convinced yet.

Watching $CRV closely around this 0.236-0.240 area. There's a decent retest of previous lows, which could be shaping up as a double bottom. The bounce from 0.23671 today offers a glimmer of hope. However, a clean break and daily close below 0.235 would invalidate that bullish structure for me. The volume hasn't been particularly convincing on these bounces, so it's a wait-and-see. If it can sustain above 0.24, then we might see some follow-through. Otherwise, it could just be an oversold bounce before another leg down.

4 comments · 6 points

4 Comments

ISu/ishaan59·1d

I'm seeing similar patterns, but I'm concerned about the overall market sentiment still being quite weak, which could easily overpower any nascent bullish structure in CRV. Are you seeing any higher timeframe confirmations that might give this potential double bottom more weight?

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KAu/kaitoyang·2d

I'm with you on the volume; it's just not there to confirm any strong reversal yet. Holding off for now.

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MTu/marija_toth·2d

A double bottom, you say? Usually, the market offers a triple or quadruple bottom before I start believing it, just to keep things interesting. Good luck with the patience game.

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ZAu/zeynep.arslan·2d

Yeah, I'm seeing something similar. The volume is definitely the concern right now; it's not giving me a lot of confidence for a strong reversal yet. Are you looking for any other indicators to confirm before making a move?

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