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Weekly candle above the falling wedge. Which target more likely?We can see one of the most common bull/bear combos on the weekly chart here. It is the bearish H&S pattern, with a bullish falling wedge overlapping it. We have been below the neckline of the H&S pattern for awhile now, however as you can see the measured move for these and shoulders pattern is negative 589…which greatly increases the probability that we wont be getting anywhere close to 100% of the breakdown target. When bearish patterns don’t hit 100% of their target, it is a sign that either we are still in a bull market or the trend is about to change from bearish to bullish. I personally think that the 63k breakout target of the falling wedge is more likely to hit 100% than I think the h&s will. . .the fact that it is says 589 is slightly intriguing considering how that number has gained cult significance in the xrp realm of crypto but I’m pretty sure sure it would worst case scenario never go negative and instead just do what luna did and start adding more zeros after the 0. Decimal point. However I don’t think the whales would let bitcoin go to zero without at least one more exponential hyperparbolic bullrally if not several more. All these things collectively make me a firm believer the falling wedge breakout is far more probable than the h&s reaching this impossible negative target. *not financial advice*
BYBIT:BTCUSD.PLong
by DrDovetail
Inv h&s on xrpeth pair on the weekly chart.We can see price action on the weekly xrpeth chart is peeking above the neckline of an inverse head and shoulder pattern here. If we can close this weekly candle above it and see a bullish volume impulse on next weeks candle we should be able to confirm this breakout which has a target that would lead to xrp gaining 59% in value against ethereum. For now this isn’t confirmed, however you may have noticed I posted a chart a few weeks ago that showed xrp should be making even bigger gains on ethereum than that based on the triangle pattern it had broken above. So with that in mind, it doesn’t surprise me that we’ve seen this many daily green candles on the xrpeth chart and increases the probability of this inverse head and shoulders pattern getting validated. For now we must await the pattern validation *not financial advice*
by DrDovetail
About to break above a weekly btc falling wedge soon?We can see price action is now currently back above the weekly 200ma (in blue). This key moving average has held solid support for most of bitcoins existence and if it can flip back to solidified support here as well then it should allow price to break up out of this falling wedge right around where I have placed the dotted line that charts the measured move of the wedge’s bullish breakout. If we see this occur odds are very likely the bull market will be back on….of course ideally we will still want to see price action eventually create a new higher high which would require a new ath. *not financial advice*
COINBASE:BTCUSD
by DrDovetail
Nearing the Neckline of the 2020 Market Collapse BottomThe "neckline" of the bottom after the market collapse of 2020 is very strong support as the selling at this juncture was a panic mode due to the pandemic economic lockdown. Stocks collapsed beyond fundamental levels at that time. This support level is going to thwart downside action for many stocks near this area. This kind of pattern warns of the impending end to heavy selling down. So, many stocks should develop a bottom around this level. Example: The neckline of the 2020 bottom formation for CMCSA is at 39.49. But this is NOT confirmation of an entry point yet. Best to wait for a breakout of the current basing action. Bottom formations can take a while to build sufficient buying energy to move up sustainably.
NASDAQ:CMCSA
by MarthaStokesCMT-TechniTrader
Huobi Token is in good consolidationHi Friends, As we can see in Weekly Timeframe chart Huobi Token ( HUOBI:HTUSDT ) is in good consolidation I think it is accumulating. Most of the time such long consolidation will give a breakout towards the upside. Huobi Token ( HUOBI:HTUSDT ) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. Huobi Token was first launched in January 2018. So it has been some time since it launched. Old crypto projects have high trust. Remember this is weekly TF trade so you have to HODL Huobi Token for weeks if not months. Also, don't forget to manage your risk as the crypto market is highly volatile in nature. Share your opinion in the comment section.
HLong
by NaveenDsouza
1
Where the green line intersects the brown line. I feel like this would be a great spot for a potential end to the current correction. It is a convergence of two major trend lines. The green trendline being the top trendline of the wedge we broke out of a few weeks ago and the brown line being the bottom trendline of the channel we’ve been in forever now. Price action loves to retest the top trendline of a wedge after breaking above it before fully validating the breakout and has yet to do that on the weekly chart here so what better spot for it to retest that trendline than where it overlaps this other trendline that has been proven to be huge support time and time again. If we do confirm the breakout there are 2 potential measured move targets. Both targets depend on which bottom trendline of the wedge is most valid. The other lower green trendline, or the pink trendline. If the pink trendline is the more valid then we have a higher potential measured move target. The green one appears to have slightly more key touches but the pink one creates a shorter wedge and the point of breakout from the price action makes more sense in the shorter wedge as opposed to the longer wedge in which it feels like the breakout would be occurring far earlier than normal. Also if the pink line is the more valid bottom trendline, we can see its measured move target would take us exactly up to the top brown ascending trendline (aka top trendline of the brown rising channel) if price action were to reach the target at the same time the pink dotted measured move line’s trajectory does. That’s added bullish confluence that helps to increase the probability that the pink trendline could be the more valid of the two bottom trendline to the falling wedge. I would definitely prefer the pink line to be the more valid since it has the higher breakout target. Of course, as always there’s always the chance these patterns could break downward and confirm a bear market. I would still be leaning bullish myself until I saw a lower low formed as well as a weekly close or 2 below the bottom brown trendline though. *not financial advice*
KRAKEN:BTCUSD
by DrDovetail
ZILUSD with a pump no one expectedOn the 1 day chart it was hard to find a legitimate chart pattern to justify ZILUSD’s sudden pump here but once one flips to the weekly chart this pattern emerges. This triangle is probably more valid on either the 2 week or 3 week chart than it is the 1 week considering how many weekly candles we closed outside the triangle before we saw the breakout. Judging by this pattern ZILUSD still has a little more room to move up on this current breakout *notfinancial advice*
ZLong
by DrDovetail
Bitcoin Weekly Chart Analysis WARNINGHi guys I was looking at the weekly chart for bitcoin and I noticed something on the rsi. A huge hidden bearish divergence can be seen from last year's top to this year's top. I am still very bullish on bitcoin and do hope that this does not affect the price action of bitcoin in the following weeks to months even though we have had a massive break out to the 40k levels. Just a warning to be cautious. Just wanted to point that out in the case bitcoin dumps back down lower.
Short
by yoyokenwan
1
A potential weekly chart double bottom on zecusd forming as wellThis weekly chart double bottom is much more massive and currently far more speculative than the 1 day chart double bottom I posted an idea about just before this idea. However I felt it worth mentioning as it would be fun to see this actually unfold then come back to this idea later to click play on the chart and see the pattern play out from its second bottom. If this one were to play out, then ZECUSD’s target would be $520. Of course again, this one is much more speculative at this point, but still worth keeping an eye on. *Not financial advice*
COINBASE:ZECUSD
by DrDovetail
1
Head & right shoulder (Weekly) Dump incoming! 49k-53kIn the big picture. We can notice the pattern's right shoulder that has not been created properly yet 49K could be the bigger resistance and the market could enter the long-range sideways between 49k to 53k If it lost the range there and the head and shoulder pattern could be validated so that Downside can be started. When we look at the daily. It is quite optimistic but the right shoulder is not there yet. This is how it seems to me. If you would like to see my new gem and other altcoins gems, don't skippy, bounce your sticky money on the like button. Thank you very much!
Long
by Flowrowboat
BTC "10/50-Week" Moving Average (Golden Cross & Death Cross)To see the Bitcoin's long trend, it's often recommended to look at the weekly chart. By looking at the historical BTC-USD (BITSTAMP) chart (especially looking closely at the 10 & 50-week moving average), we can see clear patterns. To sum: 1. When the 10-week moving average goes down and meets the 50-week moving average, there's a bear market. (The death cross) 2. When the 10-week moving average goes up and meets the 50-week moving average, there's a bull market. (The golden cross) Please verify with the BITSTAMP BTC-USD chart to see the historical movement of BTC from 2014 to now (which I've indicated with blue arrows).
BITSTAMP:BTCUSDLong
by bjunjo
2
Gold weekly analysis: The USD in under pressureThe dollar has posted its worst weekly performance in five months as it closes out the week. China's gross domestic product (GDP) is higher than expected is at the top of all of the other happenings this week. We will be keeping an eye on various data points throughout the week. It was the largest weekly loss in the general index of the US dollar since August of last year when it closed the trading session on Friday, the 14th of January, at levels of 95.14, after testing its lowest level in two months at 94.60 midweek, as the US dollar ignored all the news that supports the speed with which the US Federal Reserve is tightening policy. Because of his monetary policy, which includes raising US interest rates more quickly during the current year and raising expectations that what will raise interest rates four times during the current year rather than three times as previously expected, interest rates are expected to be submitted four times during the current year. At the beginning of the week, statements by US Federal Reserve Chairman Jerome Powell reinforced these expectations, as Powell stated in his testimony before Congress that the US Federal Reserve must raise interest rates quickly to counteract the effects of accelerating inflation. According to the most recent figures, the consumer price index in the United States of America increased at an annual rate of 7 percent in December, compared to 6.8 percent in the previous reading, in line with expectations for the fastest rate of inflation growth in 40 years. In November, the consumer price index increased at an annual rate of 6.8 percent, compared to 6.8 percent in the previous reading. The dollar did not benefit in any way from all of this, and despite the positive news that dominated most of last week's sessions for the US dollar, the dollar continued to decline sharply. However, I believe this can be explained by the beginning of the year and the construction of new centers, especially given the high expectations of pricing an opportunity greater than 90 percent. Moreover, according to the FedWatch CME Group tool, what will raise the interest rate in March, and it will be presented a total of four times during the current calendar year, starting in March. One of the most recent data released last week was the December retail sales data from the United States, which came in below expectations and disappointed as sales fell by 1.9 percent in December, raising concerns about the economy and rising inflationary pressures on consumers spending. Aas fundamentally the USD is under pressure, so the gold still has chances to go upside in the coming days. Check out the H4 chart to better understand. What is it that the markets are looking forward to this week? Several important economic reports are expected to be released during the sessions of the current week, and the markets are anticipating them. We began the day with data from China's growth and retail sales, which were released during the Asian session, as well as minutes from the Central Bank of Japan's meeting, inflation data from Canada and the United Kingdom, labor market data from Australia and the United Kingdom, and manufacturing data from the United States of America. Data released by the Chinese National Bureau of Statistics in the Asian session today, Monday, showed that the country's gross domestic product (GDP) increased by 4 percent in the fourth and last quarter of 2021, exceeding expectations of growth of approximately 3.7 percent. On the other hand, retail sales fell short of expectations, with annual sales growth slowing to 1.7 percent, down from 3.9 percent in November and expectations of 3.8 percent in December. On the other hand, industrial production increased by approximately 4.3 percent in December, compared to a growth of 3.8 percent in November, exceeding expectations of a gain of 3.7 percent, while the rate of investment in fixed assets increased by approximately 4.9 percent. The Bank of Japan is featured prominently on the front page. The Bank of Japan is expected to announce its monetary policy tomorrow, Tuesday, during the Asian session, with expectations indicating that the Bank of Japan will maintain its monetary policy and interest rates at -0.10 percent. The sharp rise in the value of the Japanese yen over the past week may explain why the Bank of Japan has hinted that it may impose strict measures shortly, particularly in light of the rise in inflation in Japan, which is in line with the global trend. On the other hand, Japanese bond yields saw significant increases last week, with the 10-year bond yield reaching its highest level in more than a year on concerns that the Bank of Japan will tighten monetary policy shortly. We will keep an eye on various data points throughout the week. Today, Monday will be a trading holiday in the United States observant of Martin Luther King Day. At the same time, manufacturing sales and the Bank of Canada survey of business outlook will be released from Canada in the late afternoon and evening. During the Asian trading session on Tuesday, the Bank of Japan will announce its monetary policy, while during the European trading session, we will be looking at data from the British labor market, the ZEW index from Germany, and the Eurozone, and during the American trading session, we will be looking at the Empire Estate manufacturing index from the United States of America. Thursday's economic calendar includes inflation data from the United Kingdom in the European period and Canada in the American session and statements from Bank of England governor Mark Carney at the end of the American session. On Wednesday, inflation data will be released in European and American sessions. What will monitor Thursday's labor market data from Australia (unemployment rate and change in employment) in the Asian session? At the same time, the European region will release the final inflation reading in the European period - in the American session, the Philadelphia manufacturing index, weekly unemployment benefits, and home sales will be removed, among other things. The final session of the week is on Friday. The Bank of Japan meeting minutes will be released during the Asian session, and we will be keeping an eye on retail sales in the United Kingdom and Canada during the European and American sessions, respectively.
TVC:GOLDLong
by Gold_Trading_Expert
2
$cake Analysis $cryptocurrencyDear Friend The candlesticks are weak during the weekly period, and with the current situation, if the candlestick closes in the same way, I expect to return to the support and stabilization area in this zone, and then return and climb to the upper areas. Resistance: 12.5 - 13 Support: 10.20 9.4 But it is still too early to make a final decision and we have to wait until the weekend. In daily and weekly time, we have dynamic and static resistance and support, which is shown in the picture. Disclaimer: Information is provided only for educational and exchange purposes only. Do your research before taking any action or decision in the real market.
by seperslp
1