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Trendpattern

BTC Daily Chart 27th November 2023Although there was a recent breakout above the horizontal 38K resistance line, COINBASE:BTCUSD was unable to maintain above this level. We can see on the daily and 4h chart that BTC has evolved into an ascending triangle. Bullish scenario : An ascending triangle is usually a continuation pattern so more upside is possible if BTC manages to perform a (real) breakout above 38K. In such a case the upper ascending channel trendline will be back in effect creating resistance around 39K and 40K (40K being a psychological resistance and stronger than 39K IMO). Bearish scenario : If BTC doesn't stay above 37K it will dorp towards the lowest channel trendline which sits at 36-36,5K at the moment. If BTC has a breakdown from the ascending triangle we can see a further drop towards 32K for a retest (yes, I still haven't given up on the retest :-). On a longer timeframe, as long as we stay above 32K, the bullrun stays valid.
COINBASE:BTCUSD
by Bullissimo
Deciphering the Charts: A Closer Look at BTCUSDT's FutureD ear TradingView Community, B efore I delve into the analysis, it's important to note that I do not consider the current price level as the optimal entry point for a short position. While this prediction suggests a bearish outlook, the ideal entry points lie closer to the horizontal red dotted line. The suggested entry points are specific to my risk appetite, and your approach may differ. Even if you find merit in this prediction, your choice of entries, target prices, stop loss, trail profit parameters, and other safety measures should align with your individual risk tolerance. It's essential to understand that past performance does not guarantee future results. I share a medium-term perspective with the community. This prediction is subject to short-term fluctuations, and its outcome depends on various technical factors aligning. Our AI system, drawing insights from deep neural network analysis, has identified the potential emergence of a bearish chart pattern known as a "rising" pattern, which often marks the end of bullish trends. S o, what technical indicators support the idea of a bearish rising pattern? Notably, the volume has consistently decreased between October 24th and November 2nd, suggesting a period of consolidation or more. Historical data indicates that volume patterns often coincide with the conclusion of trends. In this case, the volume indicator implies that the recent bullish trend may be nearing end. It underscores the significance of the volume indicator in relation to channel pattern analysis. A dditionally, on November 1st and 2nd, there were significant transactions, often referred to as "whale transactions," across major exchanges' spot BTC-USDT markets, primarily involving Bitcoin sales. The red candles in the transparent white boxes on the volume section of the chart represent these selling activities. While I avoid making hasty judgments, some theories in the crypto trading community suggest that whales tend to impact smaller traders. I present this information without taking a stance on the principle, but for those who find it relevant, it's worth considering. T o illustrate this analysis, I've chosen to use 4-hour candles known for providing a balanced representation that minimizes market noise, making them suitable for weekly or even daily positions. Our AI system has outlined two potential scenarios for future price movements. The price could find support from the current trendline (represented by the bottom white line), leading to continued consolidation, as depicted by the top dotted white arrow. Alternatively, should the mentioned support break, it could pave the way for a more substantial decline, with the bottom dotted white arrow signifying the potential target price. Both scenarios complement our bearish perspective, with the top arrow indicating consolidation before a downturn and the bottom arrow visualizing a more direct fall. W hile various indicators, such as Relative Strength Index (RSI) divergence, align with the potential scenarios depicted on the charts, it's essential to recognize that this pattern is unconfirmed. There's a chance that we may witness entirely different developments in the coming months. Therefore, I advise a cautious approach safeguarding your existing funds rather than aggressive day trading. Your financial security should always be your top priority. tl;dr Position: Short Current Trend: Bullish Upcoming Trend: Potentially Bearish Indicators: Volume Consolidation, Whale Transactions, Rising Supports and Resistances, RSI Divergence Important: This might not be the best entry. Don't forget your stop loss and trail profit if you decide to put any positions. Warmest regards, ELY
Short
by Elysian_Mind
#NZDUSD bearish possibility move We can see price reaching out to the daily timeframe bearish channel upper line, which potentially can act as resistance for the price. Additionally, we can spot the formation of a rising wedge pattern in the chart, which is intrinsically bearish and is regarded as a reversal formation in an uptrend. Another factor indicating the loss of bullish momentum is the decrease in cycle amplitude . A decrease in cycle amplitude in an uptrend is an early indication that there may potentially be underling weakness. (use 4 hour time frame chart for this.) Moreover, we have a static resistance area that previously acted as support and resistance for the price, making it an important area to observe for price reactions. It's crucial to note that any breakout from the upper side of the rising wedge pattern or the bearish channel would invalidate this analysis. For taking a position any breakout from below the rising wedge or changing market structure in 4-hour time frame could give us the entry trigger. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Short
by mohemati
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