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Decendingtriagle

matic broken the downtrend, have potential to give us 2 to 5X!!Technical analysis: #matic(Daily update) * MATICUSDT is breakout the decending tringle pattern, the beginning of an uptrend is expected from here. *The price is trading above 50- MA as well as 200 MA, bulls are full in control now to take matic upside. *MATIC is now break the it downtrend . MATIC need to hold above trend line otherwise we will see some sell-off around 1 dollar. its must need hold 1usdt as strong support . Use stop loss below 0.67. *presently most likely it will move as per drawing in my chart. Take Profits: TP1= @ 1.75 TP2= @ 2.33 TP3= @ 2.69 SL= 0.67 🥰If you find this helpful and want more FREE forecasts in Tradingview😍. Please show your support back🙏, Hit the 👍 LIKE button, Drop some feedback below in the comment✍️! ❤️🤝 Your Support is very much 🙏 appreciated!❤️🤝 💎 Want me to help you become a better Crypto trader? Now, It's your turn! Be sure to leave a comment; let me know how you see this opportunity and forecast. Trade well, 💪 #MATICCOIN #CRYPTO #BULLISHRUN #ALTCOIN #UPTREND
M
by Bitking786
BTC At A Decision Making PriceRecently BTC price has formed some kind of a symmetrical triangle after a capitulation. There is a huge fear in a market right now, and i cannot help myself buying some alts at those prices. We will eventually climb back up. When? .. No body knows, but if btc decides to fall down from this pattern we may have a retest of a recent local low forming a double bottom or even form another one. If that is the case we should do that in a few days, otherwise expect the price to break up from the triangle. If price breaks up, expect a shortsqueze that could take us back to 50k close to a .702 fib. level. Once we are there we should slowly form a new ATH then have a blow of top to 70-80k and that should be the end for this cycle for BTC. We still have a long way to go and right now it is really hard to say where the prices will go in a short term period. In case you don't know, Where triangles are broken, the price can usually move for the same length as height of a triangle. That does not always happen but it usually represents the maximum price movement in that direction. Stay strong and hodl your crypto if you understand what you hold and are comfortable with the risk. You will get rewarded. I am not a financial advisor and non of this should be taken as a financial advise. Be well. BITSTAMP:BTCUSD
BITSTAMP:BTCUSD
by AVA37
bitcoin possible support levels after upcoming crashwe broke the bearish pennant mostly visible on the 4 and 1 h time frames today. and now we are in the making of a possible descending triangle. if we break down we have relatively strong support at 47000 area(triangle target and 20weekly ma). too soon to decide what might happen after that but I'm fairly bearish right now. TD-sequential suggests at least 3 more days of down side and the 4h chart keeps making lower low and highs. have fun trading
INDEX:BTCUSDShort
by official_bugs_bunny
1
GBPUSD-Weekly Market Analysis-Jan21,Wk2Retracements are shown in post Brexit for both GBPUSD and EURUSD. On the daily chart, GBPUSD has a brief break and close above the recent high before making it way to its retracement. On the 1-hourly chart, there's an inverted descending triangle formation which could probably break and close below the bat pattern formation. If the market retest the trendline with a long shadow candle, I'll short GBPUSD and observe if the market consolidates at D point on the harmonic pattern.
Short
by RaynLim
USDJPY 14 December 2020 - Daily TimeFrameHello traders, here is the full analysis for this pair... the market is still in a downtrend and creates a triangle This is important and emphasizes that traders should not simply trade the pattern whenever the triangle appears. The figure of the triangle is essentially two inclined lines of the trend. The price is consolidated inside the figure as if squeezing into a spring. And at some point, the price should go beyond the boundaries of the technical figure. When the triangle is formed, we wait for the exit of the price out of it, which occurs as a rule according to the standard scheme: the breakdown of the face – the rollback to the pierced face – the continuation of the movement towards the breakdown. The development of such a scheme is not difficult. The trading position opens in the direction of breakdown on the price rollback after the breakdown of the triangle’s face. But it is not always so simple. Quite often there is a situation of false breakdown at the price of the triangle’s border and the return of the price inside the figure. You can find support and resistance in my chart for breakout happen. *Support this Idea with a like or Comments if you find it useful* ... Thank you ________________________________⠀ DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only
by saeedmp
SILVER | Strong Resistance | Fibonacci Extension Targets Todays analysis – SILVER - Consolidating within a long term descending triangle as it nears apex. Points to consider: - Strong resistance - 2.272 Fibonacci extension target - RSI above 50 - Stochastics overextended - Low volume SILVER unable to break structural resistance with multiple failed re-tests, however, price is quickly bought up as it retraces from resistance indicative of buyers being present, setting a slightly bullish bias in the market. A bullish break of this formation validates the next Fibonacci extension target of 2.272; also in confluence with structural resistance. Whereas a bearish break of this formation, price is likely to find local support at the 1 Fibonacci extension target. RSI is currently testing 50, recovering from overbought conditions. A bullish break requires the RSI to range above 50, signifying strength in the market. The stochastic RSI recovering from oversold conditions with ample space for an increase in momentum. Volume is clearly declining and remaining below average. This is usually an indication of an influx being imminent, likely to coincide with the breakout. Overall, in my opinion, a break and candle close above resistance validate next immediate target of 2.272 Fibonacci extension. The break needs to be backed with increasing volume to avoid any false breaks. What are your thoughts? Let me know in the comments below! And if you’ve read this far - thank you for following my work and development as a trader! As always, Focus on you, and the money will too!
OANDA:XAGUSD
by Kudiiee