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Descending Channel

AUDUSD → Price is getting ready to break support FX:AUDUSD is forming a downtrend amid the growing dollar index. The currency pair is under pressure from sellers. Support level 0.64039 is forming on D1, which continues to hold the market. But, the buyers' urge may be broken, as the price continues to squeeze to the support and is gaining potential for this. On the background of the rising USD and weakening Aussie, the sellers have high chances. The target in this case will be the area of 0.6443 and 0.6352. Resistance levels: 0.6540 Support levels: 0.6504, 0.6443 Technically, the currency pair has a negative background and most likely the decline will continue. A break of this support will give a bearish impulse. Regards R. Linda!
Short
by RLinda
5
An update on my dogeusd chart.Doge finally triggering the breakup from the tan channel after doing a fakeout the first time it got above the top trendline of the channel. Sizable pump that is already getting rather close to reaching the full target. We can also see that we have broken upward from the purple symmetrical triangle right at its apex which has an even high target. The current candle body resistance is also the top trendline of an even bigger triangle doge has been consolidating inside for awhile. We will have to break above it in order to hit the full target of the tan channels breakout, however it is still a good probability that once we hit the full target of the tan channel breakout, priceaction could then dip back down and still close inside of the bigger triangle pattern for awhile. Being at this almost hyperparabolic phase of the bull market though its also quite possible we retest the top trendline of the bigger triangle as support after hitting the full tan channel breakout target too, in which case doge would continue up from from here once it solidified that support and start working on validating the breakout of the bigger triangle.
BINANCE:DOGEUSD
by DrDovetail
4
GMTUSDT → the coin is moving into the realization phaseBINANCE:GMTUSDT is entering the realization phase after a long accumulation. Price is testing resistance for a breakout. On the High timeframe, the coin is testing the resistance area. A breakout and bullish momentum is forming. A price consolidation above 0.4000 will open a new potential for the bulls. The coin is quite far behind the market and if the bulls keep the price in the new zone, a long rally to 1.11 and 1.75 may be waiting for us ahead. Technically, now we are interested in 0.4060 and the upper boundary of the channel. Possible retest after the breakout, but price consolidation above this zone will form an intermediate bottom, which will favor the market. Resistance levels: 0.4060, 0.4867 Support levels: 0.2566 The market is ready to turn around and show us strong growth, but for this the bulls need to keep the price in the green zone. Regards R. Linda!
Long
by RLinda
7
EurUsd - 1.000 Pip DropHello Traders, welcome to today's analysis of EurUsd. -------- Explanation of my video analysis: EurUsd has been trading in a pretty obvious descending channel for over a decade and is currently retesting the top resistance of the channel. Furthermore there is a horizontal structure level around the $1.09 level which is also acting as resistance. I am expecting more bearish pressure on EurUsd to eventually retest the lower support of the channel pattern. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
by basictradingtv
1
BTT can 200x in the next bull market. Time to buy?BTT (BitTorrent is one of the biggest torrent clients in the world. Fundamentals are strong, and technicals are as well. We have the biggest candle in history; this is a serious business. I am expecting at least 100x - 200x in the next bull market. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! BitTorrent’s original goal was to disrupt the legacy entertainment industry and how consumers obtain content. Expensive and inefficient distribution networks were the main target, with original developer Bram Cohen seeing benefits in allowing internet users to distribute content among themselves directly. In the early 2000s, BitTorrent became the go-to P2P file sharing platform, with TRON stepping in 2018. Under TRON, BitTorrent has expanded its user appeal to those interested in decentralized solutions and cryptocurrency, as well as to its own user base. Among the added features are BitTorrent Speed, which uses the BTT token as part of its operations. BitTorrent has also branched out into paid services, offering several “premium” versions of its platform which include VPN capabilities and ad-free browsing. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
45
Rune will 15x in 2024! Buy this coin immediately.Technical analysis Rune is an extremely bullish coin and will hit a new all-time high relatively soon! It's still a good time to buy this coin and make a very nice 1500% profit this year. Why? As we can see, the coin is breaking out of the descending parallel channel on the weekly chart. Always wait for the rarest, but the retest already happened, so I don't think this coin will go down anymore. You can take the profit early or hold it to my ultimate target, which is a 1.618 FIB extension. Volume is extremely high, we have almost a record, which confirms my idea! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. What Makes THORChain Unique? THORChain enables native asset settlement, allowing users to swap Bitcoin, Ether, Stablecoins, and other coins across 9 distinct blockchains. THORChain does not wrap or peg assets, instead it allows value to be exchanged from one coin on one blockchain to another coin on another chain. THORChain uses a unique system to help mitigate the issue of “impermanent losses” — or the often temporary losses that a liquidity provider can experience when contributing to liquidity pools. It achieves this by using a slip-based fee to help ensure liquidity stays where it is needed. THORChain combines a range of novel technologies, including on-way state pegs, a state machine, the Bifröst Signer Module and a TSS protocol to seamlessly facilitate cross-chain token swaps permissionlessly. This is all kept behind the scenes, making the platform accessible to even inexperienced traders. The protocol isn't profit-oriented. All fees generated by the protocol go directly to the participants eg. node operators and liquidity providers, and there are no provisions for the team. Instead, the team is incentivized by simply holding RUNE — just like everyone else. THORChain enables Streaming Swaps which allow large swaps to be broken up into many smaller swaps over time, which significantly reduces swap fees for users. Other than swaps, THORChain offers single-sided liquidity provision through Savers. Users can provide Layer 1 assets such as BTC and earn single-sided yield without impermanent loss. THORChain also hosts a flagship Lending protocol where users can borrow against their native BTC or ETH and receive a USD-denominated debt in the asset of their choosing. The loans have no liquidations, no interest, and no expiration. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
14
EURGBP → Transition of the market to the distribution phase FX:EURGBP on the background of stronger decrease of GBP than EUR, connected mainly on the background of economic and geopolitical factors allows the currency pair to break the resistance of consolidation. Globally, the currency pair is in neutral-negative condition, as there is no clear trend, at the same time a wedge and symmetrical triangle are traced on the background of weak downward movement. But, the breakthrough of the upper boundary of consolidation can become the beginning of a local bullish trend. In general, there is a potential for price growth by 1 - 1.5%. On H4, the price breaks the resistance of the long consolidation, which technically puts the market in the distribution state. It is worth paying attention to the resistance at 0.8588. Breakout and consolidation of this boundary will open the price a new way up. Resistance levels: 0.8533, 0.8621, 0.8699. Support levels: 0.8533, 0.8500 The market has a potential for further growth. I am waiting for a breakthrough of the above resistance with further growth to the targets on the chart. Regards R. Linda!
Long
by RLinda
1
GOLD → New Horizons. Price opens a new rangeFX:XAUUSD is getting a good medium-term signal on Powell's words yesterday. Metal is trampling its way into new horizons and probing new highs. Today the market is waiting for Initial Jobless Claims and PMI. M1 timeframe is pointing us to the approximate medium term potential which is capped at $2380-2400, price has entered a new bullish range. Yesterday's news from Powell gives the market the realization that the overall situation is improving and the time when the dollar will start to slacken on the back of rate cuts is getting closer. On the background of the news, investors continue to buy gold even more, as well as central banks of many leading countries of the world, which only favorably influences the price. Resistance levels: 2212, 2222 Support levels: 2200, 2195, 2175 Technically, the gold may test the support before rising further. The trend is strongly bullish. The liquidity area at 2195 plays an important role at the moment on the background of today's news, which is published at 12:30 GMT TVC:DXY COMEX:GC1! CAPITALCOM:GOLD Regards R. Linda!
FX:XAUUSDLong
by RLinda
31
EURUSD → Bullish trend structure breakdown FX:EURUSD is breaking the structure of the ascending channel and the market is trying to change the trend on the background of the strengthening dollar index. The market is waiting for news from FOMC & FED today. Globally, we have a neutral range in the format of a symmetrical triangle, with strong resistance at 1.095 - 1.10 inside, which restrains the price from further growth on the back of a strong dollar. It is obvious that at the moment, technically, the pair is preparing for a decline to 1.0795 - 1.070. Consolidation below 1.08597 will serve as a signal for further decline. Today at 18:00 FOMC & FED members and head will speak, where inflation and interest rate in the USA will be discussed. The slightest hint of a more hawkish view on the siutation amid high inflation could strengthen the dollar. In such a case the Euro will continue to fall Resistance levels: 1.08697. 1.08975 Support levels: 1.07958,1.0703 The news will determine the medium-term outlook for us. Most likely, the data may be negative for the currency pair, because against the background of high inflation regulators will continue to support the dollar. Regards R. Linda!
Short
by RLinda
5
$PFE (Pfizer Inc) - Double Bottom and Missing RetestIt seems like the price may have hit its bottom, as we're seeing two Key Reversals on the Monthly timeframe. This scenario could signal a Double Bottom, setting the stage for a high-probability trade setup with waiting for the price to break through the recent Lower High (LH) to confirm a change in trend. Shifting our focus to the Daily timeframe, there are few potential Sniper Entries opportunities offering the promise of substantial rewards 💸
NYSE:PFELong
by Dragon_Ball
Mana in a similar bear flag as gala was.Just like my previous idea I posted on gala, mana is also currently inside a similar bear flag where the flag is also a descending channel. The full breakdown target for this would be negative 1.80 so I think it’s more likely this bear flag breaks upward…the descending channel on its own usually breaks up so often when you see it as the flag of a bear flag it can increase the likelihood the bear flag breaks upward instead of down like they usually do. It could still break downward and not hit the full 100% breakdown target of course but I think its more likely it could break upward…it could also only reach the smaller bullish breakout target of just the channel instead of breaking up the length of the bearflag’s pole. Will have to wait and see….unlike gala we aren’t seeing any super significant bullish volume candles on mana yet, it also has zero candles above its channel as of yet…but that could change in the very near future. It has slightly less breakout potential as gala currently has as it would only go roughly 3x if it reached the top price target where gala could as much as 5x. *not financial advice*
COINBASE:MANAUSD
by DrDovetail
3
GBPUSD → Breaking resistance, but news ahead.... FX:GBPUSD is forging a breakout of correction channel resistance and is apparently preparing for the start of distribution. The dollar index, in anticipation of news, is testing support. Powell's two-day discussions on interest rate, inflation and other nuances begin today. The chance is slim that they will discuss rate cuts as inflation problems are intensifying. A currency pair before the news or at the time of increasing liquidity can reach the target we mentioned. But the news may negatively affect the GBPUSD price as the regulators may support the dollar index quite strongly. Consolidation above 1.2685-1.27 could trigger a rise towards 1.2827 Support levels: 1.2685, 1.270 Resistance levels: 1.827 I expect growth to the above target, but on the background of news and increase in liquidity the price may return to the correction range Regards R. Linda!
Long
by RLinda
3
KAVAUSDT → Readiness to move into the distribution phase BINANCE:KAVAUSDT breaks the triangle resistance, which provokes the formation of a strong impulse. But now the price meets the flat resistance at 0.954. On W1, the coin is starting to come to life, but is still very far away from the overall altcoin market. Trading volumes are growing when the resistance is broken, which indicates that the market is ready to realize the accumulated potential. On D1 we are interested in the level of 0.954. A correction is possible, but we need to wait for a breakthrough and price consolidation above this area, which will be a confirmation of the market's readiness to go higher. Support levels: 0.865, 0.694 Resistance levels: 0.954 I expect a final exit of the price from the global downtrend and subsequent growth to 1.28 and 1.55. BINANCE:BTCUSD CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 Regards R. Linda!
Long
by RLinda
28
Near Protocol is now on my radar; 2 bullish breakouts in playBeen hearing lots of good things about NEAR so finally pulled t up on a chart and I can see in the short term it is currently breaking upwards from a descending channel which looks much more like a bull flag on higher timeframes, as well as an inverse head and shoulder pattern. I have illustrated both measured move targets here on the chart; The purple dotted line representing the bullflag target, and the green dotted line representing the inverse head & shoulders target. * not financial advice*
BINANCE:NEARUSD
by DrDovetail
Making and using Stacked Channels on log scale for targets 🧠 💱Alright, so here I will explain the idea of stacked channels on a logarithmic scale. First thing you need to do is go to logarithmic on your chart. You might want to reset the scale just for convenience so it looks nice and neat. Then you go to the channel and look, obviously we're going to start at the bottom. Okay. Now what you want to do is you find your channel here, right? Let's say this was the first one. You can go here as well. You can go here. It's whatever. I'll just go here to the beginning See how it lines up at the top. Okay, then I'll extend it And you were asking when does the price break out of the channel so here I'll mark it so you see This was a fake out. But here we have a legit legitimate breakout, right? So If I highlight this area right here, you know, you have the breakout of the channel, out of the channel. So what I do now is, I'm going to copy this channel, clone it. Ok, CTRL-C, CTRL-V, just slide it up, match the top of the old channel to the bottom of the new one. And you have a nice target here. See how it touched and stayed roughly around here? So that's all there is to it. And look, perfect here. You see? Confirmation. Confirmation again. Confirmation again. That's how you do it.
Education
by ThinkLikeaWhaleTLAW
1