CRV Ascending Triangle OppurtunityIf CRV manages to show support on the trend line thinks could be looking very bullish for CRV.
- On the daily MACD you can see that we are very close to a bearish cross and are set up for a pullback
- RSI shows us a bullish divergence, this means less overbought at the same prices
- The trendline support area is set up between the 0.5 and 0.618 of the fib which is known as a good area for a bounce (cant see this very well on this chart)
If the ascending triangle would break out to the upside there would be a very big resistance around 4.4 based on 2 strong fibonacci retracements
Price targets:
For me there are 2 main price targets:
20% at 3.41 if the trend line gets respected and bullish momentum shows
36% at 4.428 if the ascending triangle breaks out
NOTICE: These price targets are at exact levels and I would recommend taking profits mildly lower.
Ascending
BATUSDT is testing the lower trendline 🦐The price is creating an ascending channel and the price tested the lower trendline on 0.382 Fibonacci level. IF the price will hold the channel we could see another breakout, According to Plancton's strategy (check our Academy), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
btc is either breaking out of the ascending triangle or. . .btc is either breaking out of the ascending triangle or just going up to test the top trendline of the potential rising wedge we are in. Of course it could also be doing both...even though the breakout target of the ascending triangle is in the 72ks we could wait to reach that zone until where the top trendline of the rising wedge converges with the grey horizontal hyphenated line. This would be a slow grind up and take a lot of people off guard if it did cause a strong rejection from the top trendline of the rising wedge after mosts only saw the ascending triangle. However this ascending triangle is actually part of a larger pennant so probability favors that we do break above the top trendline of this wedge. We won't know for sure until price action tests it a few times I'm guessing. for now probabilities lean toward the bullish outcome after all the trend is your friend until the end. *Not financial advice* :
GBPCHF - Bear Run Started?GBPCHF could be on the verge of a bear run. But first, we require a break of the zone indicated and the long term ascending trendline.
Wait for an impulsive break and the bearish correction before getting in. We're anticipating GBP weakness overall.
Goodluck and trade safe!
BTC Breakout .. Is it North or South?Quick update but looks like on the 4 hour we are running out of runway inside this ascending triangle. Stoch RSI looks healthy, VFI crossing over bullish, we might see a breakout North here. I think thats the most likely scenario but there is heavy, heavy resistance at 60k and a rejection here would see us retesting support at ~56k and possibly 53k. I could see bears trying to force it lower to 50k but suspect they won't have the volume to make that move, if it comes to it.
That said, my favored course of action here is for a breakout North, and since I'm out for the day I'm going to have a big surprise tonight when I get back.. best of luck traders.
BITCOIN - Bullish until 50K is BrokenFor bitcoin we can see that the daily moving average has been respected many times. As for as the ascending black trendline goes, sometimes corrections get bigger and go beyond trendlines. For this, I'm looking at the daily moving average as it holds more value.
Also, the correction we're in looks like an ABC parallel bull flag. Keeping a close eye on this!
See links below for more info and more charts.
Goodluck and trade safe!
XRPUSD looks ready to break out of 4hrchart ascending triangleI give it no later than the 11th-12th of this month for xrp to finally break above this pattern 58-59 cents is the target here. Of course no bullish breakout has been confirmed yet meaning a fakeout resulting in a breakdown instead of up is still potentially in the cards. I will be waiting an obvious breakout one way or the other however probability currently favors the bulls slightly. *not financial advice*
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NZDUSD - Ready to SHORTWe have been waiting for this short for quite sometime. We're anticipating overall NZD weakness and looks like it will happen very soon. This would also mean we'd be bullish for EURNZD depending on which currency is the weakest.
I'll be breaking things down further and providing updates in the links below.
Goodluck and trade safe!
EUR/JPY - Who wants some classic B&R?EJ has produced some great setups over the last couple of weeks as the overextended bullish cycle continues.
We can see a couple of great B&R setups. Will price continue to target the previous highs and form a double top? Will we see some retracement and bears sitting at this level?
As mentioned previously, this pair is currently weakness vs weakness.
USD/CHF - Ascending StructureUSD/CHF - 4HR Chart
Price has been trading in this ascending channel. Not long ago we saw 6 year lows on this pair. We have remained bullish on the USD throughout.
Price is testing the topside of our structure. Will we see a breakout to the upside or a retracement before another bullish push?