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Rising Wedge

Hunting for a LowBTC has a double top and rising wedge playing out - we've confirmed the rising wedge breakout but still waiting on the double top. We also have the MACD rolling over as confirmation of a change in trend. Then there's a rising wedge on the RSI that we've broken out of. I expect BTC to settle somewhere around 45k. Also - because the RSI has a falling wedge still in play from the last rally and we've not reached the target of that yet, the rally should continue after this brief correction.
Short
by devoperator84
Ethereum in upwards consolidation nearing the apex!! Breakout 🚀- Ethereum still holds the biggest ecosystem and has running smart contracts for a long time. This headstart led to a big market dominance compared to its competitors like Cardano , Solana, Cosmos, etc. - The main issue is the scalability and therefore the transaction fees which are way to high at this stage. - Ethereum still is the first choice after Bitcoin for big investors and remains attractive. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. - 2 billion worth of Ethereum burned since August. Daily chart: - Price made a retest of the 3900$ support and it held. Currently we are within a large rising wedge and heading towards the apex where a breakout is expected. - Volume is still very low which confirms a consolidation phase. - RSI analysis shows a consolidation as well. - Moving averages show that the 20MA is below price again which is bullish. The next time the 20MA could act as support and boost price. - Support lines are at 3950$, 2850$, 1750$ and 1350$. All of them have been retested which is fantastic. - Resistance lines are no more. The breakout out of the rising wedge leads to price discovery. Expectation: - We expect that Ethereum finds itself around 5k within the next week. - Once we start moving up seriously FOMO begins and we can enjoy the ride. - More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely. - End of the year prediction: We will see a 10k$+ Ethereum before the end of 2021. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55
Ethereum Up or Down is the question?Hello Traders, As is it important to have a plan for both long and short positions as a trader, I wanted to give you a look at a plan for both up and downward price action. As you see on the chart there are two technical patters presenting themselves in the market structure. The first being a bullish cup and handle pattern and the second being a bearish rising wedge. I personally am leaning more on the bullish side as the whole market is bullish aside from the large cap coins which is normal if you note the photo of the I posted on the chart showing how money flows in the market. One thing that leads me to believe that the cup and handle is more likely is due to the fact a rising wedge has a characteristic of generally falling out of the patter with haste to find its target. The other is the bullish divergence shown in the chart on the MACD Histogram. As I always say, when in doubt chart it out, make a plan and pray it pans! Ironically we are sitting tight right between both entry points of each pattern currently. So I hope this brings a little more clarity to this indecisive time we are sitting in as well as makes finding a plan just a bit easier for you! I wish you all a very green week! ~Savvy~ [ .
by Savvythe1
1
LUNA has been in a Falling Wedge! now what is gonna Happen? LUNA has Formed a Rising wedge Pattern and Recently the Bearish Break out has happened. Normally we Expect the Price to Decrease to the Bottom of Falling wedge pattern. But There is a Hidden Bullish Divergence (+HD) on MACD which makes Us Think that the Price would Start a Bullish Wave From the middle of the Pattern! The chance of Hitting the EMA100 and Is Pretty high So the Price might Start the Bullish Trend From There! 🟡Summery: -LUNA was in a Rising Wedge -Break out has happened -Because of the (+HD) The Price might Start a Bullish Trend From the Middle of the Pattern -Chance of Hitting The 100EMA and Starting the Bullish Movement is High! 💎Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
by CobraVanguard
27
The rise of $CROWOW, what a time to be alive! I'm sure I'm not the only one that stayed up all night watching Crypto.Com Coin creep on up. I am in no way saying that I am getting out of this, vice versa will probably diamond hand it, because I learned my lesson on getting out early and trying to find a way back in. BUT... what's up with this pattern? I am seeing a rising wedge, meaning this could be a time to sell? Will we ever see the .60-.70 cent range on this again? Either way, I'm going to HODL- I would like to purchase more of this, trying to find a good time. What are y'all thinking?
COINBASE:CROUSDLong
by jointtothefuture
7
APPL, Are we to fear of loss now? Run my friends ! Ruuuuunnn!APPL is going to push up the whole market again ! Stock is beautifully inside a rising wedge and reacted well and nicely to 50 % retracement of last rally and possibly has started a new motive wave. Apple is now above the short term down trend line. I am currently in by taking out a minor high in hourly time frame and going to add to my position above 144.81 and 147.47 highs . It is average up in the right direction ( We should never average down in a wrong direction). SPX broke the short term down trend line strongly and NDX is going to break it soon. So generally there is no major risk in the market. We know the role of APPL in controlling the whole market. There is a nice overlap between top of the rising channel and 1.272 extension of last drop at around 163 USD which makes it our first target. But, we keep it in mind that we never sell our shares without a bearish sign in resistances. Just imagine the break out of the top of the rising wedge! I myself close all my position immediately in the case of loosing base of wedge support. We always have to trade objectively. We always have to ask ourselves : (( What if I am wrong? )). I lost the good chance of entry before, but market always offers more chances and I am not going too loose this one ! Wish you huge profits my friends.
NASDAQ:AAPLLong
by SaeedSajedi
9
NQ1! - Opex Week - Mr. Powell or Mr. BrainardThe Federal Reserve Chair will be assigned by President Biden before Thanksgiving. Will the announcement arrive during Opex Week? This is the wildcard in the market. NASDAQ found resistance, after a morning tech rally fueled by AAPL, TSLA, and MSFT, at the 2h MBB, returning to set-up at the 8 EMA. Two Bearish Patterns to watch in the form of a Rising Wedge and H&S. NVDA had great earnings for the sector leader. The 10 year note and BTC have consolidated, with the note sitting just under the 16 mark at 1.585.
CME_MINI:NQ1!
by Pennywick
BTC in a rising wedgeThere isn't much to say here if not the fact that if BTC will pump like it's supposed to that bearish DIV on RSI (and other indicators too) won't have much effects and probably won't play out. In Q1 many alts and BTC itself presented similar patterns + bearish DIV but bullish momentum kept the price going up resulting in just an extension of the bearish pattern. What I mean is, if BTC keeps pumping no matter what, we'll have this rising wedge growing bigger and bigger until we have a dump eventually. If instead the wedge will break in the short period you can see the major support zones there. I actually had others but I deleted them to make the chart more clear (I had another one at 56.9K for example). Notice the orange steep line, that is the major trendline, the worst case retracement would be hitting that one, but I'd definitely expect a bounce there. Even if I don't think we'd go there it's better to be ready for everything. I'll be away from at least 15 days starting from tomorrow so it's possible I won't be able to post updates soon. Good luck
Long
by Shotokhan