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🔥 Bitcoin Rising Wedge: Oversold Bounce IncomingIn my most recent BTC analysis I talked about the rising wedge pattern that was formed and my bearish short-term view on the market. Both targets have been hit, with 27,200 marking the bottom area. Congratulations if you took the trade! Bitcoin is currently oversold at the longer time frames like the 4H and 8H. Consequently, I'm expecting some kind of bounce in the coming 1-2 days. Ideally we will move towards the blue area where some heavy resistances lie. This would be an ideal area for the bears to short. With the stock earnings season being much weaker than anticipated, the risk is currently to the downside. So, I'm not expecting that this is the bottom yet. 26,500 is my next target. Keep in mind that we're currently still trading in a long-term uptrend, so it might be a perfect moment for bulls to pile in, which is currently what we're seeing on quite some alts. As explained in my Elliot Waves analysis, I see it more likely that we will go down more, simply because the supports around 25,000 are much stronger.
Short
by FieryTrading
10
🔥 Bitcoin Rising Wedge Break Out: Trend Shifted!In my most recent BTC analysis I talked about the rising wedge pattern, where BTC broke out off. My initial expectation was that we'd fall further, but we saw a retest of the bottom support before going down again. This is bearish. Breaking out and retesting the previous support/resistance is generally seen as confirmation in the shift in trend. I'm looking for more bearish price action over the next few days. Targets in blue. In the longer-term the chart still looks bullish. However, that doesn't mean that we can't look for short-term shorting opportunities.
Short
by FieryTrading
10
UAL - Rising Trend Channel [MID TERM]- UAL is in a rising trend channel in the medium long term. - The stock has broken a double bottom formation. - A decisive break of the resistance at 44.25 will signal a rise to 47.11 or more. - The stock has marginally broken up through resistance at 46.00. - An established break predicts a further rise. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Chart Pattern: - Double Top - DT - Double Bottom - DB - Head & Shoulder - HNS - Rectangle - REC - inverse head & Shoulder - iHNS Verify it first and believe later. WavePoint ❤️
NASDAQ:UALLong
by wavepoint99
🔥 Bitcoin Rising Wedge Break Out: Correction Coming!Over the course of the last few weeks, BTC has been trading very bullish. However, a rising wedge pattern might cause a minor correction in the near future. This might be the 4th leg of my Elliot Wave pattern analysis below. If we can close the day below the support, I'm expecting further selling. Targets in blue. Note that I think that there's still more gains to be had for BTC over the coming weeks/months. However, that does not mean we won't see any corrections on the way up.
Short
by FieryTrading
10
V - Rising Trend Channel [MID TERM]- V is in a rising trend channel in the medium long term. - The stock has broken up through resistance at 231. - The short term momentum of the stock is strongly positive, with RSI above 70. - However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. - The stock is overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NYSE:VLong
by wavepoint99
UBER - Rising Trend Channel [MidTerm]- UBER is in a rising trend channel in the medium long term. - The price has reacted back after the break of the rectangle formation. - There is support around 29.76, which now indicates good buying opportunities. - The stock has broken down through support at 31.60. - RSI diverges positively against the price, which indicates a possibility for a reaction up. - The RSI curve shows a rising trend, which supports the positive trend. - The stock is overall assessed as technically slightly positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NYSE:UBERLong
by wavepoint99
BTCUSDT - Rising Trend Channel- BTC is in a rising trend channel in the medium long term. - There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 25000. - RSI diverges negatively against the price, which indicates danger of a reaction downwards. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
Long
by wavepoint99
USDCAD - Rising Range 📦Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD is has been overall bullish trading inside the fat rising red wedgel, and it is currently sitting around the lower red trendline. So we will be looking for buy setups on lower timeframes. Moreover, the green zone is a strong support. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline. (acting as non-horizontal support) As per my trading style: As USDCAD is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
3
SHOP - Rising Trend Channel [MIDTERM]- SHOP is in a rising trend channel in the medium long term. - An inverse head and shoulders formation is under development. - A decisive break of the resistance at 57.16, ideally with an increase in volume, signals a further rise. - SHOP has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 44. - SHOP is between support at 42 and resistance at 53. - The RSI curve shows a rising trend, which supports the positive trend. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NYSE:SHOPLong
by wavepoint99
ORCL - Rising Trend Channel [MIDTERM]- ORCL shows strong development within a rising trend channel in the medium long term. - It also gave positive signal from the double bottom formation at the break up through the resistance at 79.52. - Further rise to 96.32 or more is signaled. - ORCL has broken a resistance level in the short term and given a positive signal for the short-term trading range. - ORCL has marginally broken up through resistance at 90. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NYSE:ORCLLong
by wavepoint99
I said it will have to correct, didn't I?The fed's report came as "boring" and "predictable", and Bitcoin traders were like, it is OK for now. Let's take a little break (This is HEALTHY like I said before). Lots of people are shorting now btw, but it won't last for long. Triggering news is coming soon (If you know me, you know I use astrology to predict the future). Follow me to know when you should BUY! **I saw lots of youtuber traders saying that a "rising wedge" is a bullish sign ... like what ?? I was scratching my head of why they did not run a 10 seconds search on google, or even asked chatgpt of what is the nature of "rising wedge" based on historical charts, before they "assume" it is bullish. Rising wedge is reversal sign during a bullish trend, and it is mostly attached to a bearish divergence!
BITSTAMP:BTCUSDShort
by ChemastroOfficial
6
SQ - Rising Trend [MIDTERM]- SQ is in a rising trend channel in the medium long term. - SQ is moving within a rectangle formation between support at 44 and resistance at 90. - A decisive break through one of these levels indicates the new direction for the stock. - The price has reacted back after the break of the double bottom formation. - There is support around 71.5, which now indicates good buying opportunities. - An established break through this support will neutralize the positive signal. - SQ has marginally broken up through resistance at 71.5. - SQ is overall assessed as technically positive for the medium long term.
NYSE:SQLong
by wavepoint99
2
LTCUSDT is testing a key level right now!Litecoin had a false breakout from the weekly support in the 47$ area. The market grabbed new liquidity and started with a consolidation phase until a breakout of the daily resistance of65$ area. The market is creating Higher High and Higher lows after a sweep of liquidity on 80$ area. How we can approach it? At the moment the price is testing a key level, not a trade zone for our Strategy, but I add it to my watch list. The market is creating a potential Rising wedge, between the weekly support. I'm watching the 80$ area resistance and 70$ area support. If the price is going to have a breakout from the support and retest it as new resistance, I'm going to look for a new short opportunity applying CPS strategy, otherwise, if the price is going to have a clear breakout with volume and confirmations, I could apply the MTB and CPS strategy with a possible target on first supply zone
by InkyGrip
11