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Bearish Patterns

How far ETH will pull back? Potential Future PathIn this chart, all bull trends are in green and bear trends in red, the the longer/ more tested, the stronger the line. -The dark red line in the bottom corner was a descending trend we had since over a year ago -We broke out and established a strong ascending trendline and an ascending channel that was about 15 degrees lower slope. And actually at the same time it confirmed the upward channel, it started the downward channel, recently confirmed. -The other battle here is we lost that strong dark dark green ascending support line and then we came back up and took it back, got rejected and then tried numerous more times to break it before giving up and losing ground. * Once again we will need to decide which channel we want to maintain, the ascending green channel or the newly formed descending red channel * I drew some lines of what seems Potential Future Paths, based on my interpretation of the current chart *Each set of eyes are where you want to be paying attention should we make it to this area. Roughly this chart infers. Possible downside ETH: $3650-$3550 | bullish | If we maintain this green Ascending channel ETH: ~$3450 | Possible short term bear Possible Upside: Look for resistance around $3950 after testing channel bottom. ------------------------------------- Orderbooks: Currently orderbooks are strong but we did have the first significant dip in trader confidence we have had in a long minute with the recent sharp pullback but asks are back up to a very stable level. A recent uptick in in bids at 100% DOM, infers traders think there is some more pullback possible though this could be short lived. This is per coinmarketflow, using the new TV charts on ETH. ------------------------------------- Longer Term: Note, that is 1 hour candles, here is the same chart with 1d candles: * Notice we are in a looong term ascending trend and we still have a ways before we test our theoretical top of channel but also there is a lot of room for this to fall, ETH could fall to $2500 in the next days to months and it would still be in an overall longterm ascending pattern with numerous proofs of support over the years. This is my research based on trend analysis and orderbooks. You should always do your own research, maybe my research will help add to your own and work out as a win.
COINBASE:ETHUSD
by EncryptShawn
GBPNZD Can Be Finishing The Wedge PatternGBPNZD pair has been trading bullish for the last 2 years or so, but since 2023 we can see that price action is slowing down and that bulls are running out of steam. It came even higher recently and it's testing the highs of the year, but we are tracking an ending diagonal a.k.a. wedge pattern, which can be in final stages of 5th wave. If we are correct, then strong and sharp reversal will show up in 2025. The ending diagonal (wedge) pattern is a special type of wave that occurs in wave 5 of an impulse or in wave C of a correction. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5. The reason why they are so interesting is because they are indicating a reversal, usually a strong one.
Short
by ew-forecast
Silver May Face More Weakness After A Corrective RallySilver is making sharp reversal down from recent highs, even breaking a lower trendline support of an ending diagonal which is an important indication for a top in place. As such, we are aware of much lower prices, maybe even back to the start of a diagonal at around 27/28 as drop from 4h time frame has an impulsive bearish structure into wave A/1. But we see some bounce now that can be an A-B-C irregular/expanded flat correction into wave B/2, where subwave (C) can be now in progress. Resistance is then around 31.60-33 area, and from where we will have to be aware of further weakness within wave C or 3.
OANDA:XAGUSDShort
by ew-forecast
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