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Diamondpattern

BTC Short, Fomo guy will be hurtThis is not yet an ascending triangle, we have to draw a line from the higher high to the higher low correctly, but there is a slope angle, so we have to look for a second supporting pattern, after we draw it there is a diamond pattern, meaning this confirms that the market will move down, if the price touches the Fibonacci area 0.5 / 35098$ the fomo guy thinks this is a bulltrap they will sell massively until it touches the 0.618 / 33725$ area before the reversal
Short
by novadicky123
1
#LINK, #ChainLink, Who likes #Diamonds?A quick look at #ChainLink (LINKUSDT , 4HR, Binance): LINK is consolidating after a dip that brought its price from $53 to $15 in two weeks, in what looks like a diamond bottom. If the price confirms a breakout, we can see higher prices. Strategy: Hit the TP1 target, or Exit after 50 candles, or Stop loss If you want to read more about ChainLink on CoinMarketCap, click here . What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. But if you enjoy my chart, please like, comment or follow me. :) Thank you and Happy trading! ------------------------------------------------------ Some of my charts represent actual trades, and some are just paper trading. Needless to say, this is not financial advice!
Long
by BitfulMind
BITCOIN - SHORT TERM DIAMOND - SYMETRICAL TRIANGLE Dear traders, Here is a quick update for Bitcoin. We are looking at the 30 minute chart of Bitcoin and see an inverted Head shoulder formation after which a symmetrical triangle has formed. It is in fact also a DIAMOND pattern. This Diamond comes after a sharp rise and may indicate a possible short term top but the triangle will make it clear with an breakout above or below the triangle. My last analysis showed big profits with the Diamond pattern but as you know nothing works always for 100%. It is always adopting redrawing the picture to have the most updated charts. Gyu's on a breakout downwards we may see lower prices and vice versa if the price breaks out upwards. We see that volume increases in the decline and decreases in the rise. That is a bearish sign. Volume is always very important to validate breakouts as is the same with re-testing trendlines . Target at breakout upwards 49562 and downwards possibly again USD 30000. A breakout upwards will also further validate the Inverted head and shoulder pattern form my previous analysis. Target around 50000 USD. Stops at an upward breakout need to be placed below the last swinglows and vice versa at an upward triangle breakout. ----->> Traders please follow me for updates and if you give me support with a like👍 then that will motivates me a lot to continue💚 - Thanks guy's! <<--- Safe and happy trading! Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research before taking positions!
by PegasusTechCharts
11
Ethereum ETH bearish diamond pattern is forming.Diamond patterns are notorious reversal patterns. When in a downtrend, a forming diamond could mean the start of an uptrend. Viceversa, when in an uptrend, a forming diamond could mean the start of a downtrend. In this chart i’m identyfing the upper trend line from the previous channel as a new bottom for ETH. I could obviously be wrong and this keeps climbing, or the trend line that i’m identyfing as bottom could be wrong too. Good luck, and stay safe! Not financial advice.
Short
by Verve97
4
Ethereum ready for a pullbackIt looks like we have a diamond top formation playing out for Ethereum at the moment, and as such, can expect to see a correction. A pullback to the EMAs, whether that means pinning them or pulling them all tightly together, seems like a probable outcome to me. I'm leaning towards a tightening of the EMAs being the most probable outcome, followed by a new set of surges to the upside. Short-term Short if comfortable shorting anything in a strong uptrend, but beware of fakeouts before the actual pullback. Better to enter on confirmation of support having turned resistance, or at the very least scale into the position with the lowest possible leverage from the get go. Adjust on having seen a solid confirmation of the correction. Medium-term Build longs on the way down: small position sizes and low leverage. Up the stakes after only after a reversal pattern and a continuation to the upside stands out as the most probable outcome, meaning confirmed on multiple timeframes and backed by price action.
BINANCE:ETHUSD.PShort
by MSingstad
3