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Bearish Patterns

Is ZEN Preparing for a Bounce? Key Levels to WatchZEN recently broke down from a 10-day descending triangle, signaling bearish continuation with strong selling volume. This triangle forms the B wave of an ABC corrective pattern, indicating further downside is likely before any potential reversal. Let’s dive into the technical details and key levels to watch. Key Observations and Levels: 1.) Descending Triangle Breakdown: The measured move target of the descending triangle lies at $18.7, aligning perfectly with multiple confluences: The 0.702 Fibonacci retracement from the recent lows. The previous trading range highs, adding historical support to this level. 2.) Fair Value Gap (FVG): Back in December, ZEN broke out of its previous trading range, leaving an unfilled FVG around $19.5, our previous high on December 7th, 2024. This gap represents a significant area where price may return before resuming its trend. 3.) Support Zone – $20 to $18.7: The $20 psychological level is a key point and aligns with our support trendline from previous lows. The Fibonacci negative 1 extension of the descending triangle also targets $18.7, further reinforcing this level as a significant support. 4.) Trade Setup: The $20–$18.7 zone presents a strong support area with multiple confluences, making it a favourable entry point for a long position. However, confirmation is essential! Watch for bullish candle patterns and volume signals before entering. Conclusion: ZEN’s breakdown from the descending triangle suggests further downside, but the $20–$18.7 zone offers a robust support area with several technical alignments: Fibonacci retracements, the descending triangle target, historical range highs and an unfilled FVG. This zone presents an attractive long opportunity, provided confirmation signals are present. Monitor the price action closely in this range to capitalise on a potential bounce. Happy trading everyone!
Long
by SiDec
bch sell midterm buy limit"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
Long
by Golden_candle
sol buy midterm"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
Long
by Golden_candle
Bitcoin is at a critical point - Consider this very seriously!!Hey family! Welcome to the wild world of cryptocurrencies, where the market can swing from one extreme to another in the blink of an eye. Crypto trading is known for its high volatility, which means prices can go up or down dramatically in short periods. Right now, many traders are buzzing with excitement, expecting Bitcoin to go on a bullish run. However, in such a dynamic market, it's always wise to consider the other side of the coin. Given the current sentiment, there's a good chance we might see some bearish moves too. So, while we're all hoping for the best, let's keep our eyes open for potential dips and prepare accordingly. Let's dive into today's analysis with that in mind! Overview This report provides a detailed technical analysis of Bitcoin (BTC) against Tether (USDT), focusing on the Ichimoku Cloud and chart pattern formation in combination. Head and Shoulders Pattern Pattern Description: The chart shows a Head and Shoulders pattern, which is a bearish reversal pattern following an uptrend. It consists of three peaks: the left shoulder, the head, and the right shoulder. Identification on Chart: Left Shoulder : Formed around mid-November. Head : Formed in Mid December, peaking at approximately $108,000+. Right Shoulder: Currently forming as of Jan 10, 2025, with a peak slightly lower than the head formed on Jan 7th. Neckline : The neckline is drawn at the price level where the dips occur between these peaks and it is a wise choice to take the price zone as a whole in to consideration instead of just a specific price level. By this the neckline zone can be taken as between $89,800 & $92,400. A breakout below this level suggests a strong trend reversal. Ichimoku Cloud Analysis The Ichimoku Cloud, or Ichimoku Kinko Hyo, provides insights into support/resistance, momentum, and trend direction . Here's the breakdown: Kumo (Cloud): The cloud is formed by two lines, Senkou Span A and Senkou Span B, projected 26 periods into the future. Current Cloud: The price has recently broken below from the upper cloud support, which was acting as support, and heading to the bottom of the cloud. This breakout below the cloud is a bearish signal indicating potential further downside. Future Cloud : The future cloud (shaded area ahead) is sloping upwards, which traditionally would suggest bullish momentum, but given the current price action below the cloud and the reddish color it created, it might imply a false bullish signal or a potential resistance if the price attempts to recover. Tenkan-sen (Conversion Line) and Kijun-sen (Base Line): Tenkan-sen : This line (blue) is the average of the highest high and lowest low over the last 9 periods. It's currently below the Kijun-sen, reinforcing the bearish sentiment. Kijun-sen: This line (red) is the average of the highest high and lowest low over the last 26 periods. The price is below both lines, indicating bearish momentum. Chikou Span (Lagging Span) : This line shows the current price action shifted back 26 periods, providing a historical perspective. Position: The Chikou Span is below the price action from 26 periods ago, which is another bearish signal. Kijun-sen Cross : The Tenkan-sen crossing below the Kijun-sen while both are below the cloud strengthens the bearish outlook. Key Price Levels Breakout Level: $89,800 (Neckline) Current Price: Around $92,750 Resistance: Cloud top around $95,000 - $97,000 - $100,000. Support : Below the neckline, potential support around $85,000 to $82,000. Volume Analysis Volume: While high/average volume during the formation of the head might suggests strong participation, the volume during the right shoulder formation is lower, possibly indicating reduced buying interest. Last Note : As a confluence the Trend Strength Index is also showing a declining movement both the weekly and daily charts even though it it at floor levels on the 4 Hr chart. This basically tells us that we might see some dip movements in the following days if volume continue dumping like it does in the past 3 1D candles. Conclusion Using the Ichimoku Cloud, we observe several bearish signals for Bitcoin: The price is below the cloud, indicating bearish momentum. The Tenkan-sen is below the Kijun-sen, and both are below the cloud, reinforcing the bearish trend. The Chikou Span is below past price action, further confirming the bearish scenario. Despite the future cloud showing an upward slope, the current price action suggests a continuation of the downtrend, with the Head and Shoulders pattern serving as a strong bearish indicator. Traders should consider this analysis in light of overall market conditions, keeping in mind that while the Ichimoku provides comprehensive insights, market sentiment and external factors also play crucial roles. Watch for any potential retest of the neckline or cloud for further confirmation of the trend. But instead of the bearish breakout to the downward, if Bitcoin can rebound from the current price level, it is going to be yet another strong bullish move for a formation of a megaphone which is unlikely though. For risk management, always consider using stop-loss orders, especially in volatile markets like cryptocurrency. Stay Tuned for further updates. With Regards. CTE.
Long
by cryptotalk_et
2
inj midterm 30m"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
Short
by Golden_candle
HBAR Seeking Golden Ratio After False Break of Consolidation?There's some big tells in what COINBASE:HBARUSD could potentially be getting ready to do so lets break it down on the Daily Chart! Since the High on Dec. 3rd @ .392, Price has steadily been forming what looks to be a Descending Triangle while finding Support in the ( .25 - .23 ) cent range. Bearish volume building and RSI going from Overbought to currently going Below 50 suggests further Bearish Price Action could occur! After the Positive USD Economic News Results for ISM Services and JOLTS Jobs Openings coming in well above Forecast, this seen the Dollar gain strength and other markets like Stocks and Crypto take a dive, in COINBASE:HBARUSD instance, it generated a False Break of the Descending Triangle to now where we see Price plummeting down to test the Support of this Consolidation Pattern. If Support breaks, we could see Price make a Retracement to the April 2024 Highs @ ( .18 - .15 ) This area looks especially favorable because: -From the Low before the Rally @ .04172 to the High of the Rally @ .392, lands the Fibonacci Golden Ratio levels priced @ ( .19619 - .17553 ) with the April 2024 High @ .1842 right in the Middle of this Zone! -The 200 EMA is curving up into the suspected Support of the April 2024 Highs if Price were to fall, it would test this as well! *If Price continues to fill the Pattern more, keep an eye out for more False Breaks, this will be evident with Price breaking either Area of Value ( Falling Resistance or Support Zone) followed with minimal Volume.
COINBASE:HBARUSDLong
by Novi_Fibonacci
atom sell "🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
Short
by Golden_candle