Get started

Broadening Wedge

Broadening Wedge & Potential Large Drop Signs I think are showing us an opportunity to short again: -BTCUSD looks ready for the continuation downward to "C" heading for completion of the corrective wave down from $7400. -Price looks like its worked its way up then bounced back down from an area around the .5 & .618 fib retracement of the previous fall. -BTCUSD appears to be heading for fulfillment of a broadening wedge inside another broadening wedge. -There has been a noticeable decline in volume since the 3rd wave on the 3 hour from September 20th paired with the additional volume decline since the 3rd wave of the 3rd wave on September 27th. -Its been roughly the same amount of time before falling so far during the 5th wave of the bounce that it has been for the other 2 since September 11th. -Price seems to be forming a Head & Shoulders aiming down with the top on September 21st -We still havent hit a daily oversold mark on the RSI since the run in December like the crash of 2014 had to before it could come back up. Wave "A"-"B" down from $7400 was approx 17% which is usually a similar distance for "B"-"C" meaning we could be in for a pretty nice short if this plays out. *Im still very bullish long term on Bitcoin.
BITFINEX:BTCUSDShort
by ANobleNerd
Broadening Descending Wedge could signify a possible bull rally!Traditionally, as seen historically with broadening descending wedges , we may see a breakout up to the low $7000s soon. These types of moves happen quite often in these patterns, 3 touches of the bottom of the wedge and 3 touches of the top followed by a partial decline before the breakout. Warning: I am currently in no position, I will wait for further confirmation with a clean breakout before entering any trade.
BITFINEX:BTCUSDLong
by TheCryptoRuler
NZDCAD. Technical viewthe price is in a uptrend and have constructed higher highs and higher lows. on the chart we have a minute waves where wave ((iv)) is completed and the price is ready to move another leg up. if the price beaks the 0.89690 it could go back to testing the 0.89180 level and invalidate the current technical analysis. a cup and handle formation is also formed with a broadening wedge formation as the handle, where a breakout and a retracement have occurred and therefore give another confirmation for the price to move higher, and follow the short term up trend. If you look from the beginning of the cup to the end, a H&S formation is also showing its sight. TP wil be at 0.91177 while a break of the level could drive the price to the next support/resistance area at 0.91765 Fibonacci is drawn from 0 to ((iii)) _________ A lot of important macro numbers is coming for this and next week, where we have GDP for CAD that is expected to fall short from the previous levels. while next week Cash rates and GDP for AUD is due. the cash rate is expected to hold a steady level, and could effect the price of NZD. _________ Enjoy :)
Long
by Fx-AlphaStrats
1
Patience is The KEY! But BITCOIN is Facing The WALL of Decision!Dear Friends :) No speech. No intros, no long stories, let's just jump in... Once again we are taking a look at our favorite coin. And once again we will take a look at the 4h BTC/USD Chart. We will never be tired of Bitcoin. And after a long day of sideways movement, Bitcoin has to make a decision very soon - and we are in for a treat! We will soon see firework... As you can see we are in a descending broadening wedge (you might also argue that we are in a normal descending wedge in small dotted lines). Please pay attention to my red circles, and notice how we after some up-sideways movements has bumped into the wedge wall, and how we hereafter fell in a steep down trend. So the question is, will it happen again? We have a lot of bullish signs in fact. We are in an ascending triangle in purple. We have had Regular Bullish Divergence on MACD and on RSI, also a bullish MACD-cross. All that in isolation is telling us, that this downtrend could be over, and we will go into an uptrend now. But, but.. We are squeezed into an ugly zone of confluence support and resistance everywhere! This is not a place to be in if you suffer from claustrophobia. We have all the EMAs from 20 to 200 just above our head. We have 8,2k support under us. We have 8,000 USD which also acts as huge support due to it is a even number and also is P.O.C. (Point of control - most trades are generated at this price point ever). So here is D4rkEnergY's advice for you. Believe it or not - I care about you. So this is still a no trading zone so far. Let other people gamble with their money! Go to a casino play some Roulette instead. We are aware of the market conditions, and when there are no reason to take unnecessary risks! THAT is how we become a better trader. When that is said: I believe we will very soon - when we get closer to The Wall of Decision - that we will see a SPIKE in one of the directions. I also believe it is most likely, that we will go in an uptrend at around 7,800 USD or maybe have we already bottomed now! I promise to keep you updated!! While I'm writing this, I can see the bears are trying to escape the triangle cage...... D4 Loves You <3 Aaand as always. I would appreciate a big LIKE if you enjoyed my analysis. Thanks in advance, my friends :)
BITFINEX:BTCUSD
by D4rkEnergY
180
USDCHF technicalthe price is forming a Broadening triangle with correctional waves and intermediate waves, minor and minute waves are also in count, this is not included in the chart as is will be too much on the chart.. the price have been in a strong uptrend the last couple of weeks, and a correction to the break of the triangle, can occur any time soon. a short position can be taken, with a SL at the last top. where tp will be around 0.98500. If you look at the weekly chart for the pair, a weekly evening star have been forming, and could be indicating a correction back to the triangle, before further upside. Tuesday PPI m/m for CHF will be released where the numbers are expected to be greater than previously. this can help the price to make the correction,
Short
by Fx-AlphaStrats
Possible Ascending Wedge on the 15-MinuteThere seems to be broadening wedge on the 15-minute chart. Price movement is contained and is alternating between the two non-parallel trend-lines (white lines). This tends to suggest the end of a rising price trend and the start of a reversal. Good risk/reward ratio. Will short here. Average Entry Price: $9435 Stop Loss: $9603 Final Target Price: $8884 Risk/Reward Ratio: 3.07 I will also be watching the $9200 level, as there is decent support there. Will update accordingly.
KRAKEN:BTCUSDShort
by KashifWasHere
Litecoin And Classical Charting - No Elliott Waves. Promise!Hello Dear Friends! :) Today we are gonna look at only classical charting, and try to identify the different patterns. This is an educational chart - I hope you will enjoy it! Let's start from the left: 1. Bear Flag (Steep downtrend, followed by a small consolidation to the upside, and then another steep downtrend) 2. Broadening Ascending wedge (bearish pattern) 3. Down Channel 4. Ascending Triangle (bullish pattern) 5. Symmetrical Triangle (neutral) 6. Another Bear Flag 7. Ascending wedge (bearish pattern) 8. Bullish MACD-Cross (When the blue line crosses the orange, which means that the bulls are gaining momentum) 9. RSI - Regular Bullish Divergence (The price is making lower lows, but the RSI is making higher lows, which means, that we are about to end our downtrend and will go into a reversal) Can you find other patterns? D4 Loves You <3 Please leave a LIKE for this alternative educational post :)
BITFINEX:LTCUSD
by D4rkEnergY
18
Here Is The BITCOIN-Path You Need To Know About - I Will Show U!Dear Friends! D4rkEnergY is back with his A-game. It's a tough market at the moment, but I have been pretty spot on lately. I'll admit when I'm wrong - and I have been that several times - but we have to remember to give our self credit, when we do a good job too. I can still see in the comment sections, that some ignorant (meant in a good way) people believe or think, that a good trader can be right all the time. Let me quote MY MAN, Peter L. Brandt, profitable trader since 1970s and authors to many books about TA and trading. He wrote the following on Twitter yesterday: "I am wrong 60% of the time. This means that my default emotional expectation on a trade should be that this next trade will be a loser" So next time you feel the urge to shout "WRONG AGAIN" to any Top Author here on TradingView on Twitter, then just have the above mentioned quote in your mind. One of the most famous traders in the world is "only" right 40 % of the time! Now let's take a look, at the 1D BTCUSD Chart. So far it is going according to my prediction. I told you about our sideways movement for a while, and the corrective ABCDE-pattern. At this moment we are riding on the E-wave and I expect we will go a bit higher. We have a bullish MACD-Cross and the RSI, that give us room to finish our corrective pattern. Hereafter I expect that we will fall. The ABCDE-pattern is a bearish sign in a bear market, and it will also match with the time we hit RSI resistance at level 45. We will then fall down to around 6,000 which will give us a bounce because of the double bottom and due to the fact that we are in a descending broadening wedge. BUT it will NOT be enough to send us in an uptrend though. We will eventually fall lower again, and when we reach the.... .... MAGIC NUMBER..... 4,888.7 USD, we will FINALLY go in an uptrend and to EUROPA! D4 Loves You <3 As always guys - Please hit that LIKE-BUTTON. It means a lot to me - thx in advance, my friends :)
BITFINEX:BTCUSD
by D4rkEnergY
281
Unclear ARDR directionLike many of the Altcoins ARDR has been in a long slow decline. The bottom support of 0.0000300 BTC have been tested a couple of times and seem to hold. During the last four days ARDR have forming a Symmetrical Broadening Wedge which is an indication of increasing price volatility but no indication of direction as these wedges can go up or down. The Bollinger Bands are tightening which indicates there is price movement on the way. The upper resistance have been touched four times. The MACD shows an upward trend. The RSI is staying above the 50 line. Most of the indicators are positive but low volumes will likely see a drop to around the 0.000032 BTC level by the end of the weekend and then a slow climb and possible breakout around 30 May. Suggest a wait and see approach before making any ARDR decisions. As always do your homework and make your own investment decisions.
Long
by Wetdog544