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Parallelchannels

NEARing the bottomRecently, I made an analysis on NEAR where it was trading within an ascending channel. It traded inside it for a short amount of time but eventually broke out of that channel and has been trading within the descending channel shown above. I expect that NEAR will continue to trade inside this channel for the short-term but is approaching a short-term support zone at ~5.17. If it holds, NEAR can push toward the upper bound of the descending channel. If the support does not hold, NEAR can continue trading downward in the channel until its next major support zone at ~4.57. As always, this is not financial advice and all information is for educational purposes only. Please feel free to leave any thoughts and comments below.
by kush23456
DOGE below upper line of ascending channel#DOGE/USDT $DOGE shaped an ascending parallel channel and touched the upper line of this channel. 🐻 price can make a pullback to the middle line that is the same with broken resistance zone to confirm it as support. 🐮 then continue its uptrend toward the resistance zone above $0.1 to complete the inverted head and shoulders of my last analysis. 🐻🐻 breaking down from middle line will drop price to the lower line of the channel that is the same with support zone of around $0.073
by parissap
22
GBPUSD - downtrend to continue if breaks below support area...GBPUSD price is following a downtrend channel and price is showing rejection from the upper trendline of the channel, currently price is between support and resistance zone, if price breaks below the support area then after a pullback if price shows rejection, I expect the price to move lower.. And for price to move higher, its needs to break above the channel... Trade Wisely *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Short
by Stargazer_fx
6
We're NEAR the edgeNEAR has been trading in this ascending channel since the beginning of August, pretty much like every other altcoin. However, NEAR sometimes detaches from BTC's usual movements so it is one that can make us profit and hold its support when others don't. From a TA perspective this ascending channel has held many times before and held once more today. As long as BTC keeps some stability and continues to stay within its short-term ascending channel without large moves downwards, NEAR can move toward the top of this channel for a ~15-17% profit. Of course, it is very important to remember in every altcoin analysis, that BTC is still in an overall downward channel on the weekly timeframe. A move downward can cause major volatility in the alts. As usual, this is not financial advice and all ideas are for education purposes only. Always happy to hear more and learn about different perspectives so please feel free to leave any comments and thoughts below!
Long
by kush23456
a small upward movement for eth and then a big drophello guys today i wanna analyze eth. Let's look at this chart together and I'll explain what's going on! As you can see in the eth chart, it is in a descending channel. which once broke its bottom line and almost touched the next level (I mean $800) 2 last drops started by stop hunt that i show this on chart so it is possible this drop ;that i think it will be last drop for this wave; will start by another stop hunt so be ready for that, on the other hand, price stand on compression and first supply on it (range: $2030-$2180) and we'll see a good reaction on this zone but in my opinion it will be just a reaction and maybe a r:r=1:2 position, although i think eth will has a great drop on FL that is fresh and a strong potential area because of FL and top of descending channel so i recommend you be waiting until price touch that FL and be ready for a confirmation on 15min timeframe for a great short position. thank you for your attention! If you agree with my analysis or you are happy, please hit the "like" button and "follow"!
Short
by melikatrader94
6
[08/10] Beast Trading _ Today's Bitcoin Perspective Beast Trading _ Today's Bitcoin Perspective Bitcoin has been showing a strong trend since August 8. That's why I don't think it's good to trade with the mindset that "Bitcoin has risen this much, so I'm going to take a short position" and "Bitcoin has fallen this much, so I'm going to take a long position." First of all, after the strong rise in B-c accompanied by the volume of transactions I've suggested two days ago, we're going exactly according to Elliott's view that there's a stronger C-wave decline with the volume of transactions, and it's now in a very important section. This is the bottom line of Bitcoin's one-hour parallel channel, which I emphasized before, and it is a very supportive position at the level of one salary. And as it has a strong meaning, it has shown a weak rebound by supporting it at the bottom line despite its strong decline. I think there will be a little change in the big view depending on whether there will be a further rebound or a break from this position First, there is a high chance that the rebound will not come out properly here, and if you break the bottom line, you will go according to the previously raised point of view. There's a lot of possibility of a further plunge. Second, if there is a rebound here, it is likely that the B wave, which is newly raised today, will converge for a long time. It's a perspective that keeps moving up and down in the form of a triangulation and rising at the end of the convergence. Considering the current four-hour stoic, it is located at the bottom line, so even a slight rebound is expected to give a little boost to the rise. + The purple trend line at the top is the bearish trend line from 32k.
by BeastTrading_Sehyun
3
NZDUSD Short!Price has been trading inside the given parallel Channel since 2021 ! recently price tested the lower limit of the channel and got pushed up till 0.63515 where it was faced by another resistance zone and got pushed down ! Price is in the process of retesting the above said resistance zone before it continues with the downward movement . The notion of the downward movement gets further strengthened by the observation of a Flag pattern on the Daily Chart and EMAs on weekly and daily charts . my final target for now is 0.61000 !!
Short
by UnknownUnicorn13036184
3
BNB, flap or flop? In an attempt to avoid side action, I'm watching what BNB does at 287.3 If it's a bounce on 287.3, I think BNB will make a run for 302.5 If BNB breaks below 287.3, retests and rejects, then I think it'll be a decent retracement targeting 273.9 At the moment there are some Bear signs, but the volume and volatility just isn't there. If Short setup gets confirmed: Short Entry around: 287.3 Short Target #1 : 273.9 273.9 is a strong level, if the price reaches it, I think it'll bounce rather than break below. This is my Thesis, targets are purely hypothetical based on my analysis. This is NOT Investment and/or Trading Advice. Happy Trades! ❤️ If you enjoy my ideas , Please like/comment , It means a lot, Thank You! ❤️ BYBIT:BNBUSDT BINANCE:BNBPERP FTX:BNBPERP BINANCE:BNBUSDT
by WhoIsWu
can ETC see $90?#ETC/USDT $ETC completed Adam and Eve pattern that shaped inside ascending channel and touched 2 fib level of this pattern that is the same with 0.5 fib level of daily swing down. 🐮 price can correct toward upper line of channel and continue its uptrend move to $38 and if the weekly candle going to close above descending resistance, price can fly to $90 in coming weeks. 🐻 but if bears break down price inside ascending channel price may drop to $25 and even $18.
by parissap
8
[08/01] Beast Trading _ Today's Bitcoin Perspective Beast Trading _ Today's Bitcoin Perspective Bitcoin showed an ABC-like decline yesterday, according to the market. The decline, the decline, and the shape of the decline, moved almost the same as yesterday's market, and I'll tell you what you need to check carefully from now on. First of all, I'd like to talk about alt-pumping before the Bitcoin analysis, and I think there's a short-term failure of the bit rising from 20.7k, starting with PUNDIX yesterday. Of course, you should always be careful: you're jumping like a moth on a coin that has risen by tens of percent. There was a sharp rise, so the fall is very wide. It seems good to avoid these high-risk gambling deals. Also, I don't recommend too much buying because there are still some parts where it's ambiguous to say that these pumps are not the real entry into the fire. (It's not like there's no chance that the alt's going to crash suddenly, so you have to keep some cash!) Back to Bitcoin, we're still holding up well after being supported twice in the upward trend that I posted yesterday. However, considering that it was supported by the upward trend and there is no proper rebound, it can be seen that the upward force is not very strong here, but if you come to touch the line again, you can break it down and make a short-term plunge. Slightly below from now, there's a significant rebound of 22.7k with a 0.5 return position and a sales stand at stake for the increase from 20.7k to 24.6k! It looks like a good place to take a long position. The Fibonacci support line below is likely to be 23160 / 22700 / 22230 The upper trend resistance line is around 24950!
by BeastTrading_Sehyun