Get started

Threedrivesdown

UMA - Three D(r)ives Down PATTERNUMA is approaching an ideal buy-back zone whilst forming an important chart pattern - the Three Dives Down Pattern. This pattern goes by many names including Three Drivers, Three Drives Down and Three Dives Down (which is the one I prefer to use). This pattern is bearish for the SHORT term, but bullish for the NEAR and LONGER term. It's important to note that this analysis is from a macro timeframe, with the aim on identifying the key buy-back or re-accumulation zone. From the daily and lower timeframes, the price could easily increase by large amounts however, keep in mind we're looking for an accumulation zone not for swing trades in this post. ________________________________ BINANCE:UMAUSDT
by CryptoCheck-
MATIC: RARE Pattern ! Three Drive spotted 📉📉 MATIC - USDT 📈 The three-drive is a rare price pattern formed by three consecutive symmetrical moves (or drives) up or down. In its bullish form, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it is peaking before the bears take over. this means that we SHOULD bottom soon, at least. And the next landing zone could be a good accumulation point. At first glance, it may appear bullish - since the price is now consolidating under a "resistance zone", which is normally a bullish indicator when the price is INCREASING, but not when the price is decreasing. This is infact not consolidation under a resistance zone, but should be seen instead as another failed bounce on a key support zone. The immediate price we can expect to see in the short term is 0.59c, however this zone was already tested with a wick - meaning it will be weaker when we head there for a second test. Although it's a great alt to have as a part of your diversified portfolio; I've been bearish on Matic for a while, with my previous update also cautioning sell for short term: _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:MATICUSDT
MShort
by CryptoCheck-
3
OP is BULLISH -Three Drives Pattern and 0.5 Fibonacci Level OP Token (OP) is currently trading near the upper boundary of an accumulation range, signaling a potential bullish breakout. The repeated bounce off the lower levels, combined with three instances of retesting and reactions from the 0.5 Fibonacci level, presents a compelling technical scenario. 🔄 Accumulation Range Breakout: The fact that OP is trading near the upper boundary of the accumulation range suggests a willingness to break out to the upside. This zone often acts as a point of accumulation before a potential upward move. The series of retests and reactions at the lower levels indicate strong buying interest, reinforcing the notion of an impending breakout. 📉 Three Drives Pattern: The presence of a three drives pattern adds further strength to the bullish thesis. This pattern typically signifies a strong trend reversal, with three distinct drives to the downside followed by a breakout to the upside. The three successful retests at the lower levels align with the characteristics of the three drives pattern, enhancing its significance. 🔍 0.5 Fibonacci Level Reaction: The reactions observed at the 0.5 Fibonacci retracement level provide an additional layer of confluence. This level is widely recognized as a key retracement level, and the fact that OP has shown reactions here reinforces its importance as a potential support level. 🚀 Bullish Combination: The combination of the three drives pattern, repeated successful retests, and reactions at the 0.5 Fibonacci level creates a bullish confluence. This suggests a strong potential for an upward breakout, with the market exhibiting characteristics indicative of a trend reversal and a shift in sentiment. 💡 Trading Strategy: Traders considering OP should monitor the upper boundary of the accumulation range for a potential breakout. Confirmation of a sustained move above this level, accompanied by increased trading volume, would strengthen the bullish case. Setting stop-loss orders below key support levels can help manage risk in case of unexpected market developments. 🔮 Future Outlook: The technical analysis of OP Token indicates a favorable setup for potential upward momentum. However, traders should remain vigilant and adapt their strategies based on real-time market data. The successful breakout above the accumulation range's upper boundary could pave the way for a significant bullish trend, but risk management remains crucial in navigating the dynamic nature of cryptocurrency markets.
by AlexWhale
IDX:ERAA Three Drive Pattern and Double BottomENGLISH: By paying attention to the consistency of the IDX:ERAA market movement, it can be predicted by using a descending parallel channel and three repeating patterns, the ERAA market will bounce to 525-540. If there is a daily market opening above 540 then there is a high probability that IDX:ERAA will break free from the bearish trap and return to bullish. However, by looking at the current conditions there is still no certainty, the main bearish target is the formation of a double bottom between 410-382 BAHASA: Dengan memperhatikan konsistensi pergerakan pasar IDX:ERAA dapat diprediksi dengan menggunakan paralel channel menurun dan tiga pola mengulang, Pasar ERAA akan mantul ke 525-540. Jika ada pembukaan pasar harian diatas 540 maka besar kemungkinan IDX:ERAA akan terlepas dari jerat bearish dan kembali bulish. Namun dengan melihat kondisi saat ini masih belum ada kepastian, maka target bearish utama adalah terbentuknya double bottom antara 410-382
IDX:ERAA
by deSultanTM
CABLE BULLISH 3 DRIVEAfter some careful consideration of the price action I realized that CABLE was making a very RARE, DOUBLE HARMONIC pattern called the 3 drives. In this case it appears as though CABLE is creating a BULLISH THREE DRIVES DOWN harmonic pattern. Which would frame our sells at this point and give us a nice potential EXIT to any CABLE sells at point #3. From point #3 it is a very high likelihood that CABLE will experience some form of bullish impulse wave. The current trading plan is to ride the THIRD DRIVE TO THE BOTTOM, which is wave 3 of the second harmonic pattern that is contained WITHIN a 3 Drive pattern. After completion of wave 3, the size of the resulting impulse wave should give clues to the next step in CABLE
by NakedTrading4U