Wedge
Bitcoin — An Analysis Of The Lower Timeframe Indicates More DownBitcoin is in a highly volatile and indecisive phase. Everyone is waiting for a clear sign that BTC will go higher or test lower lows.
During these times, it can be beneficial to examine lower timeframes (e.g., 1H) to gain a better sense of the market.
Unfortunately, the lower timeframe sends some warning signals.
Let me explain.
Bitcoin trades in a descending broadening wedge - a chart pattern characterized by two diverging trendlines and the price making lower highs and lower lows.
Typically, this is a good sign since the pattern will likely break out to the top and ignite bullish momentum.
But there is a twist.
Volume plays an essential role when assessing this pattern. As the pattern evolves, you want a decreasing volume.
This indicates that selling pressure is getting lower despite a lower price, which can ultimately lead to a bullish breakout.
Looking at Bitcoin, the opposite is true. Volume has increased while the pattern has evolved. Even worse, we can see the biggest volume is on the selling side.
In this case, there's a huge chance that instead of an upward breakout, the price could break downwards, continuing the preceding downtrend.
What to do:
- Closely monitor the upper and lower trendlines + volume
- A strong volume increase usually drives a breakout
- Breakout attempts with little volume are usually not successful
RUNE — Breaking This Pattern Can Send It HIGH!RUNE has been trading in a falling wedge pattern since April. The wedge is a chart pattern formed by converging downward-sloping trendlines.
What's so interesting about a falling wedge? It is considered a strong bullish sign 💪
This might sound strange if you look at the chart and see a constant downtrend.
However, breaking out of this pattern to the top usually ignites a massive pump.
This is especially true if a pattern has formed over a longer timeframe. Just like in RUNE's case!
Watching the trendlines is essential in this case. Although the pattern narrows, RUNE can still bounce back and force a couple of times.
BITCOIN - Price can leave pennant and fall to $54500 levelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊
Some time ago price entered to falling channel, where at once fell to resistance level and soon broke it.
After this, price declined to support line and then exited from falling channel and fell lower even $54500 level.
Then BTC entered to pennant, where it turned around from support line, and made upward impulse broke $54500 level again.
Next, price made retest from this level and in a short time rose to resistance line of pennant and then started to decline.
In a short time, Bitcoin fell to support line of pennant, where at the moment continues to trades near.
I think that price can make movement up to resistance line and then bounce down to $54500 level, exiting from pennant.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Gold Mid Term Target 1850 - GOLD USD BullishGold looks very much like a buy right now.
The support at 1450 looks strong and I can see a rising wedge, pennant shaping up.
GOLD still remains above the Ichimoko Cloud.
The RSI seems bullish
Fib is putting a target around 1850 USD
All in all the case for GOLD is that it should be a safe long term bet, and the TA backs it up.
1st Target is 1850 USD -- however long term it is likely to just keep rising.
NOTCoin → Pullback after a false breakdown. When is it going up?BINANCE:NOTUSDT on the background of the rally ( together with TON ) strengthens and updates the maximum 0.0129, thus forming a retest of the wedge resistance. The attempt is unsuccessful, the reaction is a pullback to the liquidity zone.
Fundamentally interesting project in the medium and long term can still show good growth, but for this developers need to try. The prospects of Notcoin will depend on the innovations developed by the project, its marketing strategy and the state of the overall cryptocurrency market.
Technically, a false breakdown of the wedge resistance is forming amid bitcoin's decline. The price may test the liquidity area of 0.0105 and then a retest of the resistance may follow. I do not exclude the fact that the support may be broken without any corresponding reaction, in this case we will wait for a retest of trend support.
Resistance levels: 0.1294
Support levels: 0.01053, 0.00912
Accordingly, any breakout and consolidation of the price above the wedge resistance will be a strong signal for further rally. As long as the price has not left the range, it is worth considering trading inside this pattern.
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:NOTUSDT ;)
Regards R. Linda!
BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming
From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices.
On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data.
Resistance levels: MA-50, 63250, 68570
Support levels: MA-200, 59300, 56500
Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets.
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;)
Regards R. Linda!
JASMY has formed a Pretty Big falling wedge Pattern!...JASMY is forming a falling wedge on 4H timeframe , Up we go if we do breakout.
✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad.
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
EURUSD → Attempting to change the global trend.... FX:EURUSD after the retest of the trend resistance is forming a correction, which is correlated with the growth of the dollar index. By the nature of the movement, the currency pair is in the bull market phase....
False breakdown of the symmetrical triangle resistance. The fundamental background for the currency pair is relatively positive. The dollar will continue its decline in the future, which is favorable for the euro. In this case, after the end of the correction, it is possible to retest the resistance with the aim of breaking through and further change of the global trend from neutral to bullish.
Technically, the focus is on 1.0916 and 1.095. Breakout and price consolidation above this zone will be the beginning of further bullrun.
Support levels: 0.5 fibo, 1.087, 0.7 fibo, 0.79 fibo.
Resistance levels: 1.0916, 1. 095
Both technically and fundamentally, we have positive preconditions for the growth continuation. The correction may take a little longer, but it is worth paying attention to the key zones indicated on the chart.
Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;)
Regards R. Linda!
Bitcoin Analysis==>> Reversal Patterns==>>(Short term)Bitcoin moved as I expected in the previous post .
Bitcoin is currently moving in the Support zone($60,800-$56,700) and near the Support lines .
In terms of Classic Technical Analysis , Bitcoin seems to have succeeded in forming a Falling Wedge Pattern , and an Inverse head-and-shoulders Pattern is possible .
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
I expect Bitcoin to rise to at least near $60,000 .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
EURO - Price can bounce up from support area to $1.1100Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Recently price declined inside falling channel and fell to support level and even lower support area.
After this movement, Euro turned around, entered to wedge, and made a strong upward impulse, leaving falling channel.
Also, price broke $1.0810 level and later reached next support level, but soon turned around and started to fall.
In a short time, EUR fell to support line of wedge, after which bounced up to $1.0990 level and broke it.
Then price made retest and rose to resistance line of wedge, but recently fell to support area.
Now, I think that Euro can bounce up from support area to $1.1100, exiting from wedge pattern.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
HelenP. I Gold will turn around from resistance level and dropHi folks today I'm prepared for you Gold analytics. A few moments ago price declined to the support level, which coincided with the support zone, and even later fell to this area, but soon backed up. Next, XAU made an upward impulse to the resistance level, which coincided with the resistance zone and even entered to it, after which turned around and made a strong impulse down to the trend line. Also, the price started to trades inside the wedge, where it rebounded from the trend line, which is the support line of the wedge also, and rose higher than the 2385 level, after which made the correction. Then price some time traded near this level and later continued to move up, and soon reached the 2465 resistance level. Gold entered to resistance zone, some time traded inside, and recently fell below, after which started to grow. So, for this case, I expect that XAUUSD will rise a little higher than the resistance level and then drop to the trend line. That's why I set my goal at 2435 points. If you like my analytics you may support me with your like/comment ❤️
USDCAD1.USDCAD has made a break of structure from an Uptrend to being a downtrend.
2.After thr break of structure, the price then formed a continuation pattern to support the trend break break.
3.The price is suppose to continue with the downtrend move.
4.We sell USDCAD
AUDUSD1.AUDUSD has been moving in an uptrend for a while now.
2.It was forming a rising wedge as it was forming HHs & HLs.
3.The Price then Broker the Wedge structure to the downside, It then made a retest of the break, leaving a reaction candle from the retest zone.
4.Now we sell AUDUSD
AUDCAD Potential breakout to do downsideAUDUSD is making higher highs on the 1-hour chart, but it's important to observe that bullish momentum seems to be waning, with the slope of the upward movement beginning to flatten. As the market approaches the weekly resistance, the upper boundary of the channel, and the key psychological level at 0.9100, close attention should be paid to how the price reacts in this area. Since the price has previously rebounded from this zone, a retest of the support level is likely, especially given that the daily timeframe indicates the market has reached a critical resistance point. If a rejection candle forms, it could signal a reversal or a deeper correction. The potential target is the support level at 0.90320
EN ShortWith prices breaking above the value area and returning below to confirm a potential bearish reversal to the downside, market structure signifies he bears could rally prices to the downside.
USDCHF: 2 Bearish Patterns 🇺🇸🇨🇭
I see 2 bearish patterns on USDCHf on a 4H time frame.
First, the pair broke and closed below a support line of a rising wedge pattern.
Then, a neckline of a head & shoulders pattern was broken.
Probabilities are high that the fall will continue now.
Next supports: 0.8585 / 0.852
❤️Please, support my work with like, thank you!❤️
XAUUSD1.XAUUSD is reacting from an H4 major Supply zone.
2.The price formed a reversal pattern below the Supply area.
3.The moment the price broke the structure of the reversal pattern, the price then made a retest of the break so as to give more room for sellers to have a proper Sell setup.
4.Now we Sell XAUUSD
GOLD SELL?? WAIT FOR CPI NEWS!Hello all,
Today we will be looking at GOLD from a Daily Timeframe for a possible sell idea
- Currently, price is trading within this rising wedge and is at the previous high.
- A failure for price to close above will indicate a correction back to the downside of $2430-$2400.
- CPI news will have some impulse moves where institutions will hunt for SL's before price makes its move back to the downside.
Best regards and happy trading!
I don't like this patternMegaphone (not confirmed). I don't like this pattern, is super aggressive when is confirmed. Price usually drops very fast. Let's wait until tomorrow to see how the trading day closes. In the meantime I'm very careful. Check my pervious post of AMD down below and you'll see how fast the drops.
Falling wedge down to support zoneWell it is or it is not. If this were a stock pattern, it would be price in a falling wedge moving down to tap its toes on support.
But it is not a stock, its the VIX. 60 zone above is the 30 year + ceiling of max ressistance. Will we break up and through the wedge and attempt AGAIN to challenge 60 ???????
Maybe rest of this week provides clues.
USDCAD1.USDCAD is on the verge of either breaking to the downside or reacting from that support zone.
2.If the price breaks below the support zone, then we wait for a retest of the break.
3.If the price shows us an H1 bullish candle reacting from the support, theb we take our buys up until a reasonable TP zone.
We wait
