NZDCAD - possible wildcardhi everyone - haven't posted in a while but im back on the charts!
looking over the pairs NZDCAD has caught my eye, after breaking an ascending structure on the daily sitting nicely in the amber zone. price shows a clear 'scoop' (double top) with an element of structure that can be seen approaching the value area on the 4H. i am looking for an entry in the green zone on the lower degree next week if price is to form an element of structure, given the price action previously and the aggressive sell off, i will be inclined to take a RE in this area. if anything else is to form, confirmation and a lower time frame continuation pattern will do just nicely!
dont sleep on this one!
have a good week everyone!
Connor
Ascending
Technical analysis of bitcoin chartsIn my opinion, as I explained in the previous post, this bitcoin chart chart will continue until almost the end of July, and we will have to wait and see what happens next.
I think there are two events ahead of Bitcoin in late July
$ 25,000 Bitcoin Or $ 45,000 Bitcoin
$OXBR ASCENDING BROADENING WEDGE$OXBR ASCENDING BROADENING WEDGE, scaling up exponentially...
CONSECUTIVE HIGHER BOTTOMS
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ADA falling wedge, ascending triangle and cup and handle?ADA looking extremely healthy here guys. we have a clear uptrend over the last days, broke out of the falling wedge and the ascending triangle, and also kinnnnnnddd of forming a cup and handle here as well? price targets are very similar and give a clear path for ADA should the market cooperate. possibly the healthiest looking alt coin if you ask me. i personally have been accumulating a lot of ADA as she feels like a sleeping giant righht now and i think in one year we would kill to get ADA at sub $2. lets get this money guys
BTC ASCENDING WEDGE, DESCENDING VOLUMEon the 4 hour chart, I am seeing an ascending wedge which appears to be accompanied by decreasing volume.
Also, the candlesticks have not surpassed the 50% Fibonacci zone, which leads me to believe that this is not a false pattern.
If the pattern is correct, then another dip can be expected, breaking the ascending wedge pattern. My guess is that BTC would find support around $29,000. I would love to hear your opinions. BITSTAMP:BTCUSD
Ascending triangle breakout target 42KHigher higher lower lows on the 4hr chart. A break out of the ascending triangle should result in a breakout of critical assistant to 42K which is significantly important as it will break above the 21 week SMA and flip the narrative bullish on bitcoin on the daily once again.
EURCHF - How To Trade This BreakoutEURCHF is within a descending channel of an ascending channel... pretty confusing I know but have a look at the chart and you can see which way price will be heading. What we need to do now is find the best entry which is safe and clean.
From the diagram in the chart, you can see that our entry will only be after the break of the descending channel and after a bullish correction such as a bull flag. We need to make sure that price has the momentum to move up so we will be waiting for a breakout of the bullflag before entering with stops below the correction.
Goodluck and trade safe!
SPY Another Wedge pattern!? SPY loves to follow wedge patterns and it looks like its trading inside a BROADENING WEDGE pattern. Another drop to 412-413 area could be seen soon.
A break of the bottom trendline of the wedge could result in big downward moves, filling the large gaps it made on the way up.
If the bottom trendline holds, we could see another ATH.
As a beginner, I'm still learning the ins and outs of recognizing patterns and trading them, but I'm always open to criticism and other ideas.
What do you guys think about my analysis?
Leave a comment below!
$BNTX Ascending Triangle breakout in next 3 days?BNTX has formed an Ascending Triangle indicating breakout in next three days for run to earnings. I've taken some good profits on this since the last earnings, got in at 102, so may be a bit biased.
On the other side - this has been a LONG bull run and is clearly overbought already. The ascending triangle would seem to indicate it's got some more bullish energy left though. China is on the verge of approving it in the news...
Also in the news watch out if the White House issues an intellectual property waiver on vaccines . This most certainly could have a dramatic effect on the price action.