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Falling Wedge

DODOUSDT wants to go higher?DODOUSDT has recently experienced a massive breakout from a falling wedge pattern. The falling wedge is a technical chart pattern that occurs when the price of an asset is in a downtrend and begins to consolidate within a narrowing range, forming a wedge shape. This pattern typically signals that a bullish reversal is imminent, as the price is likely to break out from the wedge pattern and continue higher. In the case of DODOUSDT, the price broke out from the falling wedge pattern in the $0.1 area and experienced a massive bullish impulse. This breakout was likely driven by increased demand for it, as well as positive news or developments within the DODO ecosystem. However, in order for the price to continue its upward trend, it will need to create a new breakout from the daily resistance level. This may require a period of consolidation or even a retracement, as traders take profits and reassess their positions. According to Plancton's rules, this could present a buying opportunity for long-term investors who believe in the potential of DODO USDT. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
4
XLMUSD: Falling Wedge Sitting Above Support/Resistance ZoneXLM has showing Bullish Divergence within this Falling Wedge at the very important Support/Resistance zone at around 9 cents and looks to be ready to brakout soon. If it does Breakout i think it will start an AB=CD move that would take it to the 1.618 at $3.10 but the measured move of the wedge alone would take it to the much more conservative 0.886 target up at $0.35 this will likely move whenever XRP decides to move.
Long
by RizeSenpai
Falling Wedge Targets Could Trigger Failed HS Targeting 7500Ethereum broke out of a falling wedge and is showing a golden cross on the 50/200 day MA (dotted), and approaching the same on the 50/200 EMA. Its falling wedge TP 1 lies right around the neckline of a Head and Shoulders pattern that we fell below during Spring of 2022, as well as the right shoulder. Falling wedge TP 2 lies just near previous ATH. Get above right shoulder to trigger failed HS, get above ATH to head to 6180 and ultimately 7500. Note - a successful HS would take Eth back to 0 on its first measured target, so which is more likely - 0 or 7500 following the swap to proof of stake?
COINBASE:ETHUSDLong
by dudebruhwhoa
Intrigued by BCH HereFinding myself intrigued by Bitcoin Cash. We recently hit bottom a 2nd time and have thus far begun moving up, breaking out of a small falling wedge (on the non-log daily chart, the logarithmic weekly chart is what is pictured above, but it still has the wedge and targets from the daily non-log chart). Why am I intrigued, outside of a potential double bottom? Bitcoin Cash was a fork of the original Bitcoin code, meaning original adopters and/or owners of Bitcoin at the time received an equivalent amount of Bitcoin Cash. Many of them were made wealthy from Bitcoin. It would seem to me, if I were in their position - I would have a vested interest in seeing Bitcoin Cash make a comeback, if even just briefly enough to make some returns on an essentially free investment. On the chart - interim daily falling wedge targets, boith still under $200. For weekly / long-term - get through and hold above the first red resistance area to make it to the next one above it - that happens, the double-bottom comes into play.
COINBASE:BCHUSDLong
by dudebruhwhoa
6
If loopring validates breakout from its weekly wedge trgt= .55 Here on the weekly we can see price action has overcome the weekly 200ma(in blue) and is about to test the resistance of the weekly 50ma (in orange) it will need to overcome the 50ma to reach the full breakout target, so I’ll be keeping a close eye on how it interacts with the moving average. Most importantly is that it closes the weekly above the wedge as well as the follow up weekly candle. *not financial advice*
COINBASE:LRCUSD
by DrDovetail
2
META - falling wedge pattern (bullish)After a strong 28% gap post earnings on 2nd Feb, META has now given up about half its post-gap gain. However, its longer term bullish picture remains intact if we look at the following factors: 1. Stock is still trading above both its 20 and 200 day moving average (the latter of which is beginning to flatten out, a precursor to turning up) 2. A falling wedge pattern is forming (potentially bullish) 3. Bullish divergence forming between price and RSI (*see Note below) A break out of this wedge could be an opportunity to long again if one has taken profit earlier or has gotten stopped out as stock went into this steep retracement. I would put initial stop loss slightly below the most recent pivot low (which will be the candle just prior to the wedge breakout). However bear in the mind the stock's momentum could be slower for now until the next catalyst appear. *Note that while a bullish divergence could materialize into a short term bounce lasting about 2 to 3 candles, it does not translate into a longer term trend change on it's own. 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!
NASDAQ:META
by Juliac