Get started

Falling

Price Action Consolidating in Small Falling wedge4hr chart has the price action respecting the trendlines of a falling wedge/bull pennant. I don't foresee any bullish breakoutt hat may come from this pattern being anything substantial..especially the closer it gets to the apex the harder it will be for a breakout to lead to any sort of higher high. If a breakout does occur I anticipate it will most likely form a lower high and then dip again to another lower low. Probability favors this but of course I am prepared for the opposite should we somehow skyrocket to a higher high.
BITFINEX:BTCUSD
by DrDovetail
GameStop falling wedge, LONG TERM HOLDGamestop seems to be among the most hated stock out there. It is tanked so low that is unbelievable. However, what is surprising is that the stock is trading far below its book value and it has a PE ratio of 4 which is also unbelievable. The reason was mostly because the company was not run in an optimal way. However, that is about to change. New CEO has just been appointed and things are going to become much better for the GAMESTOP. Plus we are just bouncing off the support line and when we break this wedge we can potentiallly go to 30 USD level without any problems. RSI on a month chart is saying that we are heavily oversold. In any case, make sure that this is a very long term trade. It will take a year or two but you will almost triple your money.
NYSE:GMELong
by nnxx
8
Potentially breaking above the falling broadening wedgeThe price action is once again peeking above the top trendline of the falling broadening wedge (in turquoise). If we can sustain this and close 2-3 4hr candles above it then I expect a big move upward. We will at the very least form another higher high in our higher low/higher high series to keep the bulls in control if we break above but I anticipate a confirmed break above this wedge(which has been acting as the handle to the Eve cup) will take us as high as 8k and potentially all the way up to the neckline of the adam and Eve double bottom...need the confirmation closes and a boost of bull volume first though to confirm the breakout though. Things are looking good and we've had a few good bullish news stories about ETFs and the SECs comments about bitcoin not being a security today so I have a feeling the sentiment will remain bullish. Because of these factors I'm gonna go ahead and list this as long...however I'm still keeping an eye on that potential head and shoulder pattern I have much more faith in the bulls. We also have consistently bounced upward off an upward slanting support line on the 4hr rsi as well and have once again bounced up from it this time around the 42 range.
BITFINEX:BTCUSDLong
by DrDovetail
BTC forms another higher low; testing top line of faliing wedge.BTC continues its higher low/higher high pattern by forming another higher low on the 4hr chart. and is now testing the top trendline of the falling wedge again. To continue its bull pattern we will want to look for it to reach a higher high than the last higher high of $7777 I personally think we will be heading up to 8k before the next retrace but are currently finding resistance at the falling wedges top trendline. I see enough room on the 4hr rsi to overcome this resistance though...so I'm listing this idea as long. You make your own choices though as this is not meant to be taken as financial advice.
BITFINEX:BTCUSDLong
by DrDovetail
BTC has broken above the inv h&s & falling wedge A good sign for the bulls as BTC has now broken upward from the bull flag it was in on the 1 day chart which has allowed it to break above both the inverted head and shoulder pattern and the falling wedge as well. It is still seeing resistance at the 4hr charts 60 line on the RSI but as soon as we can break above the 60 on the 4hr rsi and flip it to support I think the real bull run will begin...lots of bullish signals all around including the developing golden cross on the 1 day chart which is still probably a week or 2 away but worth keeping an eye on. If the inverted head and shoulder breakout is legit we should see the price action go up to around 8k and test the top trendline of the larger triangle pattern that we have been in since the beginning of the year. Our series of higher low/higher highs is still in tact as well so I still am a firm believer in "To the moon in June!"
BITFINEX:BTCUSDLong
by DrDovetail
3
BTC attempting to breakout of falling wedge/form a higher high Very positive signs as of late for BTC as we can see on the 4hr chart we have already formed a higher low at $7270 and are now setting our setting our sights on following that up with a higher high which we will need to get above $7661 to reach. If we do achieve this higher high and then follow it up with an additional higher low then I am confident we have gone back into bull mode...So we need to watch for both a higher high and an additional higher low to be confident we are going bullish. However it appears we are attempting to break bullishly upward from the current green falling wedge pattern I have on the chart and if we trigger that breakout I think a higher high is pretty much a certainty. We will need an additional 4hr confirmation candle to close above the triangle as well and a nice surge in bullish volume to go with it. Another good indicator will be if we can finally climb above the 60 line on the 4hr RSI which has been putting up solid resistance so far. If we trigger a bull breakout from the falling wedge we will certainly be getting over the 60 resistance line on the rsi and hopefully flipping it to a line of strong support as well....If we can flip the 60 line on the RSI to a strong line of support then we should see a nice bull run with only higher lows, higher highs, and sideways consolidation for a good portion of June. Very encouraging signs.
BITFINEX:BTCUSDLong
by DrDovetail