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📈📊 #ChartPattern Alert! 📈📊 📈 Channel 📈A "channel," in the context of trading and technical analysis, is a chart pattern that forms when the prices of a financial asset move between two parallel lines, creating a kind of corridor or channel. There are two main types of channels: an ascending channel and a descending channel. Ascending Channel: This channel forms when prices have an overall upward trend, but this trend is contained within two upward-sloping parallel lines. The lower level is the support, where prices often find buyers, while the upper level is the resistance, where sellers may come into play. Traders often view the ascending channel as a sign of the continuation of the existing uptrend. Descending Channel: On the other hand, the descending channel forms when prices have a downward trend, but this trend is bounded by two downward-sloping parallel lines. The upper level is the resistance, where prices tend to retreat, while the lower level is the support, where minor bounces may occur. Traders typically interpret the descending channel as a sign of the continuation of the downtrend. Channel analysis is an important tool for traders as it can help identify entry and exit points, as well as set profit targets and stop-loss levels. However, it's crucial to note that channels are not foolproof, and prices can break beyond the channel lines, signaling a change in trend. In summary, a "channel" is a chart formation that depicts the direction and strength of a price trend in a financial asset. It's a useful tool for traders looking to make informed decisions about their market trades.
by RaffDN
ETHBTC ❗Caution❗One more for today will be ETHBTC chart. The wedge is forming for a year now. Chances are, the next BTC move down, ETH and ALTS will go up and even make the breakout from this formation! ...However, I'm not too sure about this. Previous Trend support zone has been crushed fast enough and wasn't going to retest it back. Chances are still here, But... We have another, Bigger Trend line all the way from the Bottom (I hope it was one, cause if not, the blood will be all over the place) And I am guessing we will have another big fall is Sep/Oct and there may be the prices we're not gonna see in a while most probably. So, I suggest you to look closely, with caution, cause we're gonna see volatility in the next weeks. Be aware. Envision. 👁️ A.I.Vision
by A_I_Vision
1
ETH/BTC - Ethereum: Ascending_Triangle◳◱ We've detected an Ascending Triangle pattern on the CRYPTOCAP:ETH / MIL:BTC chart. This pattern is a bullish indication and could indicate a potential trend reversal. The next resistance levels are at 0.06362 | 0.06446 | 0.0659 and the major support zones are respectively at 0.06218 | 0.06158 | 0.06014. ◰◲ General info : ▣ Name: Ethereum ▣ Rank: 2 ▣ Exchanges: Binance, Kucoin, Huobipro, Gateio, Poloniex, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Ethereum is a distributed blockchain computing platform for smart contracts and decentralized applications. Its native token is ether (ETH), which primarily serves as a means of payment for transaction fees and as collateral for borrowing specific ERC-20 tokens within the decentralized finance (DeFi) sector. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.06383 ₿ ▣ 24HVol: 602.903 ₿ ▣ 24H Chng: 0.33% ▣ 7-Days Chng: -1.65% ▣ 1-Month Chng: 1.79% ▣ 3-Months Chng: -2.51% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.06362 | 0.06446 | 0.0659 ◢ Support: 0.06218 | 0.06158 | 0.06014 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -0.23 ▣ Last 90D: 0.03 ▣ Last 1-Y: 0.53 ▣ Last 3-Y: 1.11 ◲◰ Volatility : ▣ Last 30D: 0.39 ▣ Last 90D: 0.41 ▣ Last 1-Y: 0.64 ▣ Last 3-Y: 0.89 ◳◰ Market Sentiment Index : ▣ News sentiment score is 0.40 - Bearish ▣ Twitter sentiment score is 0.53 - Bullish ▣ Reddit sentiment score is 0.53 - Bullish ▣ In-depth ETHBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF