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Rising Wedge

Ethereum show incredible strength with massive rejection🚀- 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. - 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. - 5 billion worth of Ethereum burned since August. Daily chart: - Price showed a flash crash together with the whole market and a massive rejection that prints the bullish daily candle of Saturday. 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 we currently are below the 20MA and the 50MA. This is a concern and we have to reevaluate next time. - Support lines are at 3950$, 2850$, 1750$ and 1350$. All of them have been retested which is fantastic. - Resistance lines are no more. The breakout out of the rising wedge leads to price discovery . Expectation: - We expect that Ethereum finds itself around 5k within the next week. - Once we start moving up seriously FOMO begins and we can enjoy the ride. - More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely. - End of the year prediction: We will see a 7k$+ Ethereum before the end of 2021. We reduced the price target from 10k$ to 7k$ due to recent price actions. 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
How to trade Rising Wedge patternWhat is a rising wedge? A rising wedge is a technical pattern, suggesting a reversal in the trend . This pattern shows up in charts when the price moves upward with higher highs and lower lows converging toward a single point known as the apex. There are 4 ways to trade wedges like shown on the chart (1) Your entry point when the price breaks the lower bound of the wedge, place your stop loss above the last peak, your target range is the distance between the upper and lower bound of the wedge at the start point. (2) Your entry point when the price breaks the neckline of the double top pattern inside the wedge pattern, place your stop loss above the double top, place your target as same as shape (1) (3) Your entry point when the price retest the lower bound of the wedge, place your stop loss above the last peak inside the wedge pattern, place your target as same as shape (1) (4) a false breakout may occur in the rising wedge pattern, wait the price to go inside the pattern again and your entry point should be after breaking the last trough and your stop loss should be placed above the last peak that has been formed within the wedge, your target should be placed as same as shape (1). We wish you the best of luck!
Education
by ChartDepth
BTC 87.1k confluenceThis idea will present multiple aspects of what BTC price action is doing. Each aspect will be broken down in different snapshots so that at the end we have a understanding of the greater picture. Elliot Wave & Fibonacci The assumption is that each correction wave will bounce from the 0.5 0.618 Fibonacci levels. The levels should have confluence with previous highs so that resistance turns support. Wave 1 stopped just above the 0.618 level. Wave 2 stopped just bellow 0.5 level. Wave 3 stopped just above level 2. Wave 4 should stop just above ~52.9k Confluence with Fibonacci levels from Point 0 to 3 waves. So a good approach for the current PA would be to accumulate in the green zone between ~57.7k and ~53k. Wave 5 should reach at least the 1.618 level at around 87k. Level 2 would be between 98k and 100k. Log Trendline Support is now resistance. Locally We are forming a rising wedge with a RSI and MACD bearish divergence. I've also plotted a channel that interestingly has the bottom support in confluence with wave 3 high. Question is what will BTC do at the bottom of the channel and if we make a higher high or a lower confirmation high that will take us to the accumulation zone ? One scenario is that we could form a H&S that as usually will probably underperform and instead of reaching the target will bounce from the accumulation zone. I will post ideas related to this on lower time frames like 4H and 1H to look for confluence.
by CryptoSlots777
6
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