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LMAO! BULL TRAP? YEAP - BROADENING WEDGEThat's really funny. The trap is armed! A FALLING WEDGE IN A ROLLING TRIANGLE With a BROADENING WEDGE? I'm literally ready to see it! To the moon? 100k? Just a lunatic to believe that. Or rather, the same that follow the great TOP TRADINGVIEW. You are too funny. Stop spreading false specs. Look for another job. This movement is totally bass. Come on UKRAINE TRADER copy everything you can, you need to sell your signals, right? They are very rare and arise only at the end or in the final stages of a long bull market. Normally, they assume the appearance of an inverted symmetric triangle, and may also appear as ascending and descending triangles. The symmetric type consists of a series of price fluctuations, by means of a horizontal axis, with each tertiary top higher than the previous one and each tertiary fund lower than its predecessor. When we connect the tops and bottoms with two straight lines, we will see that the tops are inclined upwards, and that of the tops are inclined downwards. Unlike the triangles, whose limits are respected, in the formations of enlargement, the ascents and descents are not always interrupted in the limit of the lines, making a little difficult its tracing. The pattern also contradicts a lot in the sense that a penetration of a previous top usually indicates a resumption of the bullish trend while the breach of a previous fund commonly signals either the beginning or the continuation of a bullish trend. I AM NOT FAMOUS I DO NOT WANT YOUR MONEY I will not get you wrong
BITMEX:XBT
by f3rG0D
1
XBT/USD TECHNICAL ANALYSIS. SHORT TERM BEARISH SCENARIOHello everyone, welcome to my short term perspective of bitcoin on bitmex. Let's get right to it.I would like to start with the price action and then I will move on to the indicators. We have a rising wedge formation, which appears to have completed and broken down on 6/3 at 2000 hours. Keep this time in mind , I will refer to it once again later on. This rising wedge began forming after a bounce off of $7060 ( Strong support zone shown in pink). Price then rose to the .618 retracement( $7766 ) , completed the pattern formation, then ultimately broke down. Price also ran into the 100 EMA, and got rejected as well.(red arrow) I would like you to take a look at the blue arrow. In the recent past(5/20-5/21), price also ran into the 100 EMA, got rejected, and ultimately broke down. Price is currently testing the $7500 price level. Keep in mind that this is a STRONG psychological support level. Such as any other multiple of 500 or 1000. Price will stay in this area for a while until either bears or bulls win the battle and take over. The same sellers that were present during the first breakdown (5/21) could come back now and drop the price again. It's clear that selloff has already begun, but how strong are these sellers? We don't know yet. In the most bearish scenario, price can go as low as $6950. I would not be alarmed if price went this low. Now I would like to move on to the indicators. Starting with the MACD. You'll notice the moving averages are not there. I have removed them for visual purposes(side note: there is a bearish cross on the two ma's, not shown in my chart) The MACD histagram began showing DIVERGENCE prior to the breakdown of the rising wedge pattern. This means that the histagram provided the first indication that price may be on its way down in the near future. Now I'd like to bring up the time of the original WEDGE pattern breakdown, 2000 hours on 6/3.(8PM if you dont know military time) The MACD histagram curled downward unitl 2000 on 6/3, prior to breaking down under the neutral line( " 0 line). And price broke down with it. Now I'd like you to have a look at the RSI. A similar rising wedge pattern occured on the rsi as well. It begain rising with the price action until it tested resistance. It ultimately broke down at 2000 on 6/3 along with the price. It's clear that selloff has already begun, but how strong are these sellers? We don't know yet. I have highlighted the bearish and bullish scenarios. I hope this helps you improve your perspective and due diligence. Please note that this is only a short term perspective. IF I am WRONG, and price bounces off $7500 and breaks above the .618 retracement, then awesome ! I will close my short position and go long. There is no problem with that. I am still long term bullish on bitcoin, but I do believe that we are facing a short term breakdown. Thank you for reading. - ** LEGAL BS: I am NOT a financial advisor. This is not FINANCIAL ADVICE or reccommendation to buy/sell BTC. This information is for educative purposes .**
BITMEX:BTCUSD.P
by brazuka08
2
XAUUSD Both Direction PossibleHello traders. I like to share with you my gold analysis. Even if both directions are possible, we have a long trade setup. Let me explain. Yellow wave count is one option. Based on it, down move was the X wave and it will go up for Z. Minimum target is breaking the of Y. The structure between yellow lines looks like a flag for more upside. So, wait for the breakout, and take the long trade. The second option is blue wave counts. Based on it, last part was expanding wedge (abcde) and now it is making the next down impulse. Expanding wedges are extremely rare corrective patterns. That's why I don't think blue counts will be the case, but of course, they can be. So, wait for a correction, then wait for the breakout, and take the short trade. Trade with care, bye.
OANDA:XAUUSD
by WaveAnalysis
incoming correction?the 2 hour chart for ethereum is beginning to show some possible signs of bearish divergence, also visible on the 1 hour. we see an overall uptrend in price, yet volume is falling, macd is crossing, and stoch rsi is putting in lower lows. in my view, there have been some instances where ethereum has lead bitcoin a little the past couple days, however consensus from a lot of traders seems to be the opposite. either way, we could see a bit of a correction coming up before a possible final push to the upper bound of the down channel we are in. as always, this is not advice, just a n00b trying to learn.
BITFINEX:ETHUSDShort
by dgcoco