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Ascending

BTC showing multiple Bearish indicatorsCOINBASE:BTCUSD Here we see that BTC has been in a long-term downtrend since June of 2019's high. More recently, at the beginning of this year it appeared as though we could be breaking out of this bearish trend, only to see a major correction to the downside spurred by macroeconomic events. Since the spike downward the price action of BTC over the past 2 weeks has lead to the formation of an Ascending Wedge. This is characterized by candles closing with higher highs, lower lows, and decreasing volume. It is also considered to be "more" valid if the fib retracement levels remain below the .5 line, which we can see, they still are. As supply gives out and bullish exhaustion takes over, we can expect to see a continuation of the long term downtrend. Coupling this with the macro environment we are all aware of, and I don't see BTC bucking this trend. Of course, it is possible that BTC is strengthened by these factors (as it was designed to be) and we see BTC enter a new bull phase. The problems I have with this scenario are that; 1: People aren't buying any risk On or Off speculative assets (stocks or even bonds) if they can't afford food or housing, which is a very real possibility in the coming months. 2: If hyperinflation drives the price of BTC to 100k, then it will also drive the price of everything else we own up. A cheeseburger could end up costing 10k. Does that mean it's time to go long on burgers? Adjusted for the rate of hyperinflation, the fact is that a 100 thousand dollar BTC would actually be worth much less than it would be today, but it wouldn't be evident in the charts.
COINBASE:BTCUSDShort
by VanBenno
2
Potential Ascending triangle possibility with an apex in aprilwant to see some more confirmation on this one before I'm a 100% convinced but as of now that's the bigger picture. we can see how price action also came up exactly to the teal horizontal line and found resistance further proving the validity of that trendline as it has so many times before. we should break above it soon but not so sure if we'll be retesting the top trendline of the purple ascending triangle on this leg up or if we will turn back around and retest the bottom trendline first. Gonna potential take a lot of sideways here before we find out, if we see a breakout much sooner than very end of march/beginning of April then the ascending triangle may not be the pattern afterall. We'll see what happens soon enough. It would make sense to consolidate her in a long ascending triangle however if the candle from a couple days back was indeed the final capitulation candle. That for now is still up in the air but it very very likely could have been...unless his next weekly candle is the real capitulation candle..for now odds favor the previous weekly candle as the capitulation candle. It is key that we get back above the weekly 200ma in the next couple weekly closes or at least hold support on the 50 monthly ma just below that.
COINBASE:BTCUSD
by DrDovetail
LONG - OKBPERP - Trading OpportunityOKB consolidating above previous support, looking like we could get some kind of ascending triangle action over here, so we will be playing the range. Entry: 6.731 Target 1: 7.375 SL: 6.3705 CryptoCue is not providing investment advice and is not taking subscribers’ personal circumstances into consideration when discussing investments. Investment involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire position. CryptoCue is not registered, licensed or authorized to provide investment advice and is simply providing an opinion, which is given without any liability or reliance whatsoever. The information contained here is not an offer or solicitation or recommendation or advice to buy, hold, or sell any security. CryptoCue makes no representation as to the completeness, accuracy or timeliness of the material provided and all information and opinions provided by CryptoCue are subject to change without notice and provided on a non-reliance basis and without acceptance of any liability or responsibility whatsoever or howsoever arising. You hereby irrevocably and unconditionally waive, release and discharge: (a) any and all accrued rights and/or benefits you may have against CryptoCue in respect of any opinion expressed or information conveyed by CryptoCue at any time; (b) any and all Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time; (c) CryptoCue from all and any claims (whether actual or contingent and whether as an employee, office holder or in any other capacity whatsoever) including, without limitation, Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time. ("Claims" shall include any action, proceeding, claim, demand, judgment or judgment sum of whatsoever nature or howsoever arising.) You hereby agree to indemnify and hold harmless CryptoCue in respect of any and all Losses paid, discharged, sustained or incurred by CryptoCue in the event of bringing any Claim against CryptoCue. (“Losses” shall include any and all liabilities, costs, expenses, damages, fines, impositions or losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of earnings , loss of reputation and all interest, penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses and any associated value-added tax) of whatsoever nature and/or judgment sums (including interest thereon).
FTX:OKBPERPLong
by ElMomento
BTC to $11750 in two weeksThis screen captures all 3 runs, our first miracle run to $20k, the run last summer to $14k and this run now. All 3 runs had their own ascending channel. Notice with each run, the return descending channel is more narrow, this is as a result of a larger number of smaller runs versus just a fewer major runs in the past. 2017 run lasted 9 months and had 4 distinct runs from $900 to $20,000 2019 run lasted 3 months and had 3 distinct runs from $4000 to $14,000 2020 run, 6 weeks so far and has already had 4 distinct runs from $6900 to ? ($11750?) ------------- This ascending channel couldn’t be more calculated and in line with historical resistance points. There is an incredibly strong likelihood this was a good entry point and we are about to run up, continuing the current 6 week trend until it hits a major resistance point around the beginning of March (2 weeks from now) establishing a 2 month trend @$11,750. At $11750 (See circle), there is a major horizontal resistance point, in fact, one that has been a rest-stop for around 2 years now. More importantly we reach the top of our 2020 ascending channel and are almost certainly no way around a healthy pullback. We can expect a pullback from $11,750 to around $11,000 or if it breaks that, $10,500. I drew a diagonal line in in black to make this look like a massive triangle, but it’s not. Triangles are typical over a few months, maybe you could stretch it to 6 months, but not two years. But this does establish a top trendline over the last couple of years, it tells us that anything over this line is an improvement to the previous top of candle descending trendline. The next big hurdle will be $14k to prove a long term bull price action. How great it would be if these smaller runs represented greater consolidation just before breaching a 2 year (not triangle) and going parabolic! Its not all roses. There really is a fairly plausible chance that at $11750, we pull back all the way to the 5 year trendline as we complete this. Since we know the approximate width of descending channel, we are looking at probably $9500ish around June while also threatening to break below our 5.5 year trendline but offering a great entry point with a 5.5 year guarantee. This is not investment advice, just sharing my observations, do your own research. Also just some notes from our site vcdepth.io with integrated TV charts, we see that our global order books had gone from $1Billion to around $720Million during this route. We are now sitting at $860M and order books at 1% went from $283M to $260 million. BTC @ 1% orderbooks with overall books and bids and asks separately along with MACD and price action with a line chart, 20SMA, 50SMA and Bollinger.
COINBASE:BTCUSDLong
by EncryptShawn
2
Beautiful Ascending Triangle is forming in ETH/USDT This triangle is another great opportunity for us to try and catch a cluster of green candles once it gets penetrated to the upside. As always, we are trading candle color and not necessarily the price. So as soon as green candle closes above resistance line, we will place a bet that the next candle will be green and keep on betting on subsequent green candles until the first loss. Since our wins pay fixed amount regardless of the price move, all we care about is the number of green candles.
Long
by Candle_Trader
Higher high and low for AUDSGDJust a casual update on an earlier analysis posted: Presently biased towards bullish. AUD appears to have find support above the blue line -- previously acting resistance of the steeper downward channel since Dec 2018. The pink lines forms the gentler downward channel started since 2017, expected to act as resistance levels for AUD ahead against SGD. Expect AUD to be rejected at around 0.95-0.97 SGD to retest the support. If AUD is able to pierce above 0.97 SGD and finds support, a follow-up pump is expected perhaps to ~0.99 SGD at the 38.2% Fib level. If AUD is not able to find support at ~0.93 SGD, then expect a continuation of the descending channel (defined by the two blue lines), and expect price to go down and revisit 0.9 SGD.
Long
by cybernetwork
LINK to $3.50 end of Jan 2020 @ top of ascending channel +LINK (ChainLink) long term outlook still looks quite bullish, riding well over the multi-year support and still holding a much higher and near parallel, bullish ascending channel. We are currently sitting at bottom of channel, minimizing entry risk but entry should be leashed with a short Trailing Stop Loss. Top of channel is $3.52 or so around the end of January 2020, a month from this write up. Because we may also be seeing a wedge form here, we could see a really nice breakout that could occur earlier in January where as that $3.52 would already be support by end of January (or break down to $1.50 historical support). There is downside potential where as the mid-term trends could reverse (though currently no indication of such), likely we would be caught by the the historical horizontal/logical support @ $1.50 or worst case our multi-year long-term trend-line below would catch us. Right now a downtrend seems really improbable though hinged on the health of the global market. This ascending channel could actually play out for a couple of years before forcing LINK to choose between maintaining the channel and breaking its ATH. I am pro-link long as well as bullish long term and for the next month or so for a channel swing trade, holding both in long-term and short-term positions and accruing more now. This is not investment advice, just some of my market observations published. DYOR. s
BINANCE:LINKUSDLong
by EncryptShawn
3
XAGUSD Descending Channel - Short Term Down4H Analysis Long Term - Price moving on a Descending Channel Short Term - Price moving on a Mini Ascending Channel Price struggling to create a new high inside Mini Ascending Channel. Per history, this is bound to go down. Entry Detail: SL: Set outside the Mini Ascending Channel Resistance Zone to allow the price to fluctuate. TP: 2R - Just before previous resistance-turned-support / base of Mini Ascending Channel Note: This post is my personal journal/opinion only. Please trade at your own risk.
OANDA:XAGUSDShort
by jumpstartscript