ETHBTC 1D Descending Triangle Until Feb '23ETHBTC appears to be caught in a mid-term descending triangle for the next couple of months. There'll be plenty of movements in and around this area, but we'd expect a net total of about -5% over the course of the next 2 months.
Crypto Tipster v2 is currently showing a Sell signal although the market has been a tad choppy recently, and with a potential squeeze on the cards you'd need to keep your eyes on this one.
Trianglepattren
Bitcoin price compressionHi Guys.
Im in 1H timeframe and i think BTC price compressed between two line i drawn on my chart.
Also we can see a weak Divergence between RSI and Price action too.
This will lead the price to the lower line and despite there is a strong support line there , in 24000
the price will bouce back and go approch upper line.
So we can take 2 trades here:
1- Now with SL upper than latest minor peak
2- after reaching lower line and the bounce verified.
The price action around 24000 was very strong because you see two long shadowed candle in this area historically.
After this price compression ends , we shuold analysis again to see what will happen.
But in some extent , I think we break this Triangle upward and go toward 26000 target.
Hope you enjoy , thats just my idea NOT a trading Advice.
Trade on your own strategy but take ideas from others.
THANK YOU ALL
NASDAQ 100 Futures for the week 2/21 to 2/14
The clear up trend and the symmetry of the prior swing pattern have been broken.
The resistance turned support so well. It’s possible to see another 100% extension as bulls’ target price.
However, considering what is shown in the previous point and the descending triangle that the market is forming now, I stay neutral at this moment.
Conclusion:
1. Long only if the market up breaks the descending triangle.
2. Short only if the market drops below the prior low.
3. What to do when the price is going between center line and prior low?
- The price would be under the center line, meaning the market is more bearish like.
- But the prior low has not been broken so the down trend has not been confirmed.
→ The direction is not clear, and the market is likely to go sideways. Or only enter short position.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
STOCK NAME {REVATHI EQ } SWING TRADEperfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis..