Get started

Wedgebreakout

Ethereum's Time to Shine?As Bitcoin and Ethereum continue to fall into key areas of support, price action is bouncing in a descending wedge which usually shows the trend is about to reverse and move towards the upside again. 1260 is a strong support level for Ethereum as initially it was strong resistance point back in January when we tested this level three times before managing to breakout. Ethereum is known to lag behind Bitcoin often times as currently we would need to see a reduction in Bitcoin Market Cap Dominance to see a potential pump in Ethereum and other major Altcoins. The MACD indicator has seem to have found support and potentially creating a double bottom whilst the RSI Indicator seems to have created higher lows which is a bullish signal while Ethereum continues to make lower highs. For a more safe confirmation to enter a long position a 4 hour candle would need to close above the target level dotted in purple, this is where the buyers had failed to prevent the continuing downtrend. Reaching this target would also have a crossover on the 20 and 50 EMA lines providing further confirmation as average price is returning to an uptrend. If Bitcoin continues to drop and find support at 40k we could see Ethereum briefly drop outside of the descending wedge pattern before returning, however many institutional inventors are holding the price up. With the recent Announcement of Ethereum's Berlin Fork upgrade coming in April, changing it's current operation to proof of stake will improve the fundamentals for Ethereum's future transactions as long as it goes smoothly with no issues which will help it continue to compete with rising altcoins.
Long
by Rogez
1
1INCHBTC is creating a falling wedge 🦐IF the price will have a breakout from the falling wedge and from 4h resistance, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
22
BITCOIN Correction should be over soon. Bullish Signals Visible BTCUSDT is currently in its correction phase after its intense rally upwards. Currently BTC is trading inside this Falling Wedge which is an extremely bullish continuation pattern, wedge is confirmed by the dropping decreasing volume. Also, the price is taking support at the 200EMA and the RSI is showing a Bullish Divergence on the 4 hours chart. All these are some good bullish signals suggesting the uptrend is to continue hence Soon a breakout over the upper trendline. However Since its weekend so like every weekend we might see drop in prices hence there might me a slim chance that the price would go down the wedge but there are lots of support levels between 38k and 42k. The Support at 40k,laying on the 0.786 fib extension of the 'A' corrective wave is the strongest and its highly unlikely that the price would go below that. BUT anything could be possible so always use stoploss and this is just an idea so lets see what happens. I hope a bullish breakout happens. All suggestions and corrections are welcomed :)
Long
by iAmitkumar
2
price broke out from falling wedgeOk, I've entered back 1INCH at 4.85 following the 5min chart I can't post here. I thought it would have retraced back to 4.78 but, as always, I didn't want to miss the train. As usual I should have trusted my TA, it touched 4.78 and bounced back. I think this can be the break out. I admit this is a very early entry so it might also go down to retest the wedge so you can also enter with a part of the money you wanna invest in the token and wait for a secondary entry point. From this point, if price keeps going up, I expect at least a 30% profit and if DEX tokens awakens again it might be much more. SAFE stop loss at 4.58
Long
by Shotokhan
5
FLT (1-2 Week trade)Bullish TSXV:FLT A wedging pattern formed and a breakout is imminent. ✅ Bullish candle at close ✅ Near the end of the wedge ✅ Red Flags = Relative Strength Index (RSI) divergence shown here A price entry can be made inside the wedge or when the bullish movement is confirmed at the breakout and confirmation level of $2.14. This is a 1-2 week trade for a 7-10% profit gains (or more if it can break the $2.30 resistance) . Confirmation: ~ $2.14 Price Entry: < $2.07 or at Confirmation Price Target (PT): > $2.30 Profits: ~ 7-10% gains - Pocketfeeder
TSXV:FLT
by pocketfeeder
3
WWR BreakoutBullish NASDAQ:WWR 6-Month, 2-Hour View : Another Cup and Handle formation Entry: ~8.60 PT: +$12.00 Profits: >40% gains (1+ months) 1-Month, 30-Min View: ✅ A bullish wedge indicating the Stock Price (SP) movement to go up. Waiting for confirmation above ~$8.80 ✅ Red Flags = Relative Strength Index (RSI) Divergence appearing for a bullish momentum **For a shorter hold... (1-2 weeks) Entry: ~8.60 PT: $9.50 Profits: ~10% gains Find good entries, know your exits, secure your profits - Pocketfeeder
W
by pocketfeeder
FTI Consulting *FCN Falling Wedge Trade the BreakoutFTI Consulting falls under the radar for a potential LONG with this falling wedge pattern in play . On the 25 Feb we have Earnings numbers coming in and during December 2nd 2020 the board authorised 200 million Dollars for the re purchase of its Shares. The Falling Wedge CAN FAIL the same as any other triangular pattern so make sure you wait for confirmation with a candle close with a break of the resistance and High Volume . They are the ingredients needed and of course better than expected earnings numbers could also be encouraging ... Trade with a Solid Plan , knowing in advance your entry, exit , position size, and take profits on the way up ... Show your gratitude with a Like, Follow or a comment ...Thanks for stopping By
NYSE:FCNLong
by SJTRADESFUTURES