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Bullflags

Descending Triangle.This is the "exact" same chart from the other day but on a 6 month line chart; which only shows the daily "closing price" as opposed to the 1 year time frame candle chart I posted on Feb 6th which shows more trades. Notice where the rejection point came into play on Canopy's parabolic price move on Friday? The downward sloping trendline of the descending triangle seems to be in play, and the sell volume seems incredibly bearish. Every time Canopy's RSI gets this high we see a dump in the share price as well. The neckline area of the Inverse Head & Shoulders pattern which called the temporary bottom seems to be holding as support for the time being, interesting.
TSX:WEED
by ScotianBot
Bull Flag Or Descending Triangle?This is the same chart i posted on Feb 3rd but this Hollow Candles instead of a Line Chart. $TNY has displayed strong support 4 times during this consolidation period after the bullish move on Jan 14th, and the chart has also displayed moderately strong resistance creating the downward sloping trend line forming a descend triangle, or is it a bullish flag? Only time will tell I suppose. Keep in mind the more times a resistance or support level is tested the more likely it's going to result in break in either direction.
CSE:TNYLong
by ScotianBot
BTC - Healthy consolidation! Daily higher low found?Hey there, So Bitcoin has been consolidating in the last few weeks and days and is currently holding its gains. In my latest post I expected Bitcoin to find a daily higher low in the near future at around 9000USD. Therefore it is of no surprise, that we bounced off of low 9000 and are now about to retest resistence. Also we have a bull flag on the 4h and 12h chart and you could make the case for a falling wedge on the daily. Bears didn't see follow through as support was broken regularly and got often bought up. There is a reasonable chance that we now have found a daily higher low, although I cannot be too sure yet. We recently had a 9 on ETH on the TI Indicator daily, but did not break too far and could be going into a double 9. The weekly timeframe is at a 5, so we still have plently of room to the upside. Targets are marked with white horizontal lines where resistance is likely to be seen in the future. Bulls still maintain controll and keep the trend strong. Maybe this really is the ralley into the halving with a "sell the news" event in May 2020. Check out my YouTube channel: Enlightened Trading on which I regularly post videos on crypto and the stock market. Also follow me on Instagram and Twitter at enlightened_trading_ Cheers, Konrad
BITSTAMP:BTCUSDLong
by EnlightenedTrading
Bullish Pennant?Possibly a descending triangle? A pennant is a continuation pattern in technical analysis formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines - the pennant - followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation. Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.
CSE:TNYLong
by ScotianBot
XRP Looks very bullish to meA nice bull flag formed in side the trading channel previously post. Not retested the support line @ .2340 either and WELL above the 200 MA. The most positive thing about the price action is it's ability to hold on to the price rise, then consolidate. Haven't seen this kind of price action for a considerable time. Bull market underway......I can see us nudging the .2810 resistance level before the end of February. Happy trading everyone, good luck to you all.
BITFINEX:XRPUSDLong
by AZEB1A
Ethereum gaining altcoin dominance?Hello All, So far, as we have seen this current market, Ethereum--previously a strong performer-- has been under performing, however, it has a strong pattern here with the chance of a classic failure swing, as the second bottom could not approach the original bottom as closely. This failure swing is denoted by the yellow strokes on the chart. There is a broadening wedge which I have been following for several months, and so far, following this pattern has been very fruitful. But, now the price action appears to be consolidating just above an important support and one of the strongest resistance trendlines for Ethereum since the move to 360. The price objective of this broadening wedge is approximately 250 which would place ETH just above a strong resistance region. We are looking for strong movements above the resistance trendline which is in magenta or purple, after there maybe a retest of the breakout, otherwise, I believe price will power through to close to 250 with very little consolidation opportunities. Currently, there is a small flag just under the resistance, and 179 is a strong support region; there is an extremely low probability for ETH to fail this breakout, and if it does, there is a great opportunity for good risk management. Also, giving me a like and a follow will help motivate me to post more! Best of luck and Stay Technical! Previous Analysis:
COINBASE:ETHUSD
by CuddlyCuddles