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Diamondpattern

BTC diamondHey everyone, happy sunday quick idea to show you BTC diamond on the 15 min TF Red vector ranges above if it breaks out of the diamond, however we do have some green vectors residing below. Moving averages are getting tightly squeezed, probability of a move soon. if it breaks 200MA and holds we could see a move up towards 28 K also its in this weird kind of symetrical triangle pattern, heading for potential break out or green vector recovery. But note that it has hit the green vector but left a bit so lets see.
by Crypto_SUP_Surfer
BTC - A bigger move is around the corner! Here's a quick look at the BTC 2 hr. chart. As we can see, the price has formed a diamond pattern, and a break, either way, will happen soon! It is important to note that there exist significant unfilled CME- and Fair value gaps situated below the current price. As a general trend, these gaps are known to be filled eventually. Thus, it would be reasonable to anticipate a price retracement to those levels. It is worth mentioning, however, that such gaps may take an extended period to be filled, though in most cases, they are filled relatively promptly. Also, the current volume is very low, indicating that a more significant move is coming! ------------------------------------------- Key Dates to Watch in March: 30 Mar: GDP Report ------------------------------------------- What's a Fair Value Gap?: A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders. ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups. BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Editors' picks
by MBM_Crypto
64
Jasmy Diamonds diamond continuation/top/bottom patterns are rare and hard to spot, best used with other indicators or analysis tools etc. when price breaks out of the diamond it can signal continuation of previous uptrend (or mark tops and bottoms). to measure the move take the high and low and you can take that distance from the break out as an estimated target, break out= entry, stop loss is the Higher Low (HL). furthermore. it is vital to keep in mind that Diamond patterns are not always reliable, and traders should use other technical analysis tools in conjunction with the diamond pattern to confirm. and this is small time frame, highly volatile, crypto asset.
by Jbridgez
3
Total market cap break-out Crypto Total Market Cap formed a diamond pattern in 12H TF. This pattern has just been broken out. CMF values had also broken out its trendline. It's likely that the continuation is confirmed for Total Market Cap. The target woule be +5% the next days. This 5% up is not much but would be very interesting when looking at the current position of Total Market Cap in 1W TF (see the below screenshot). Indeed, in weekly TF, prices has been consolidating right below the trendline resistance for 2 months and a half. A confirmed break-out of this resistance make the whole crypto market go up faster and may reach the next weekly ressitance (possibly +30% from here). For a good risk management, we should not ignore fake breakouts of both diamond pattern (12H TF) and the trendline (1W TF). I would appreciate if you could share your view and your sentiment about the next moves of crypto market?
CRYPTOCAP:TOTAL
by evasivesteering
BTCUSD Ready to exit this big diamondBTCUSD reached further the supply area in overbought condition. A potential decrease of 7% can occur if the price action interact with the anchored VWAP from ATH. This potential movement can ignite an impulsive 5-wave bearish exiting of this big diamond pattern, which is likely complete. Fisher Transform suggests the direction of the price action in 2H and 1D timeframes. Overbought condition on macro scenario, in which the price seems to be form a top, ready to a swing downward to complete a 5th wave of a expanded ending diagonal, likely to finish the actual bearmarket.
BITSTAMP:BTCUSDShort
by firmestudio
$ETH 💎💎💎I'm seeing a diamond pattern on $ETH. From my knowledge where diamonds enter they in most cases exit. I still think there is a small possible bounce to the highlighted circled area around the 1770 area then down. My thought is that the price target down is between the 2 green horizontal lines at 1650-1625 area with a possible extension down to the 1580 area. Why I say the possible extension is that is where the last real push to its current price came from and before the market moves to new destinations whether higher or lower it usually retest old break outs. I will go further into my future thoughts after this move is completed. If it plays out exactly I think we may have a nice move before things possibly get nasty again.
Short
by Riskitpaid
SHIBUSDT | Wave Analysis | Bull Wedge Diamond Breakout Position?Wave Analysis combined with price action and chart pattern trading: > A potential minor 1-wave descending triangle breakout scenario with ABC falling wedge retraced 0.786 fibonacci level > After recent uptrend diamond breakout above SMA200, now assuming a possible upcoming bullish divergence FAKE BREAKDOWN minor 5-wave to complete the reversal pattern for downtrend A wave correction. > If breakout +50% upside falling wedge target at downtrend triangle resistance. > 2nd fakeout is always the 4 - wave correction position > Long Entry after bullish divergence confirmation at the Wedge Always trade with affordable risk and respect your stoploss, Good Luck
Long
by dukeposh
SPX - Could be still whipping in a wide rangeAt the start of February, SPX saw a number of "affirmations" that the uptrend was underway: 1. broke up and continued to trade above it's longer term trendline resistence 2. traded above its 200 day MA since 24th Jan 3. followed by a Golden Cross on 1st Feb However the month of February began to see momentum evaporate as the index began to pullback below it's 20, then 50 days MA and finally stopped short at its 200 day moving average. There are now a confluence of immediate "supports" coming up between 3920 to 3949, namely: 1. the 200day MA @ 3940 2. the long term trendline resistence that could have turned support 3. 38.2% fib retracement of the big AB upswing that began from Oct's low @ 3920 4. which is also the 61.8% fib retracement of the more recent BC swing Therefore we need to see some rebound this week if the this pullback is just a breakup and retest of major prior resistences or something more bearish (which mean breaking below 3920). A look on it's monthly chart showed that SPX had been mostly whipsawing within a wide sideway range of between 3585 to 4150 for the past 9-10 months and it is possible we could have more of that (think "STAGFLATION"). Hence unless we see some rebound this week or it could likely be a short term trader's arena right now (ie high volatility, short term swing ups and downs). Can only wait and see. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
SP:SPX
by Juliac
ETH Diamond Top - CONFIRMED - UPDATEAhoy, me hearties! Let me tell ye a tale about a man named James, a swashbuckling trader who sailed the seas in search of the finest diamonds. James was a master of the diamond top pattern, and he knew how to read the tides of the market to make a profit. When he saw the pattern confirm, he hoisted his sails and set a course for treasure. His crew worked tirelessly, scanning the charts and watching for any signs of a change in the winds. And when the diamond top pattern reached its peak, James struck with all the force of a cannonball. The market trembled beneath his feet as he raked in his booty, grinning from ear to ear. For James, trading was a way of life, and he would stop at nothing to find the most precious gems in the world. And as long as the diamond top pattern continued to shine, James knew he would always be the king of the trading seas. All joking aside - this is going according to plan. Bounces are likely going to occur going into the weekend or next week but this is playing out nicely. Top for the year is still capped at $2,000 - $2,500.
BITSTAMP:ETHUSD
by bitdoctor
3
BTC diamond pattern waaaSUP everyone, i thought i would share this one, I was charting away and drew the wedge channel BTC is in. The white trend line is from body of the candles the blue is from wicks of the candles. If you notice the blue trendline of the wedge has hit the last wick bang on You will also see the bear flag that BTC is currently in ready to go somewhere, It could form a double bottom very soon which would also make this a Two diagonal diamond continuation pattern or possible reversal pattern depending if it broke out or not. So ye theres my idea, another thing is there is a bull divvy on the 2hr. On the daily we are below the 50MA, by a thread, but if we break the 50MA on the daily i would suggest the probability would be more favourable of hitting the top of that wedge. But we will soon see, Happy weekend :)
by Crypto_SUP_Surfer
Filcoin. Diamond pattern Diamonds are a very deceptive pattern in addition to the cryptocurrency market. Sellers in this area are misled by the fact that this deception provides a lot of liquidity to institutions and major investors in the market. A diamond pattern is formed when it is broken, QMed (price engulfs it). That is, for example, H, L, HH, LL, HHH exist. In the diamond pattern, four in-gulfs occur, and in this way, the stops of 4 groups of traders are eaten and liquidity is created.The loss of users of digital currencies in the diamond pattern - Sellers on the ceiling, buyers on the floor, sellers on the ceiling, buyers on the line..
by Baharmostofi
SPX - expect short term pullback (bearish divergence)The markt has been more bullish than bearish lately. However it is getting overbought in the near term and a bearish divergence is now seen on the daily chart. Hence some pullback from here will not be too surprising. Bearing in mind divergence usually result in only a short term trend change lasting several candles. I am looking at possible near term SPX support at 3885 (recent pivot low). While SPX managed to break above its 200 day moving average and even the longer term trendline resistence that had proven to be a tough one to crack in the past few months, there are still a lot of skepticism especially when "bad" news (eg mass layouts by big techs) still abound. The fact remains that the bigger picture (say 2 monthly chart) remains in a sideway "diamond pattern" consolidation. Assuming the market is indeed on the recovery, It will be weeks (or even months) more before the 200 day moving average can flatten and turn up. Hence, SPX could continue to whip saw around the 200 day MA for a while. There are more and more stocks that are forming/have formed basing patterns, ready (or have already begun) to reverse into an uptrend. The way to navigate this market is to trade those stocks showing high conviction technicals. The more we see such stocks, the more we will be convinced the market is probably turning the corner (albeit it will still be volatile for a while until it becomes too obvious). More importantly is also to have strict exit rules (ie stop losses) in place in case we are wrong. Keeping losses small and letting winners run is the way to go although it is definitely easier said than done. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
SP:SPX
by Juliac
BTC: Diamond Effort from the BullsLet's see how this turns out. Highly manipulated ATM, on the macro I'm bearish. Currently, however, a FOMO pump to 22.8K may be in the cards before this thing goes back to structure & back to bed. Be safe, be strong, be wise :) **If you have patience, strong hands, and like scoring wins, be sure to SUBSCRIBE to this channel. Here's why: I track all USD-paired cryptocurrencies on all the major CEXs and seek out the most lucrative swing trades. All my charts are clean and easy-to-follow with exceptional win rates ranging consistently between 80-85%. My TA is based off a combination of Wyckoff Volume Spread & Fibonacci Ratios. Stop getting smashed and start winning in crypto. My charts will teach you how. *Not a financial advisor. Trade at your own risk.
COINBASE:BTCUSD
by jalapablo
2