I drew a cup and handle pattern on DOT. This is a bullish pattern.
For confluence, I also found a bullish MACD cross and a falling wedge in the RSI.
Let me know what you guys think!
If the cup and handle I drew seems outrageous, there is always the possibility that the handle can be a Bull Pennant which is also a bullish chart pattern.
There are some indicators that show that we have bottomed. I will go through them here.
1. We have RSI Bullish Divergence. RSI divergence is a powerful indicator that is seldom ignored. The length of the divergence here is longer than normal. The longer the bullish divergence is the more the price action will rise.
2. The 200 simple MA on this 8 hour time frame...
We have a large falling wedge pattern with a small head and shoulders pattern inside of it.
We also have a potential bearish MACD cross and the Lux Algo indicator flashed a "strong" sell signal.
This suggests short term bearish movement until we test the bottom of the falling wedge. Then, we will proceed higher since falling wedges break bullish around 68% of...
The 200 daily simple moving average (yellow moving average) is above the price action. This will cause a group of traders who follow this indicator to have a bearish bias.
If BABA's price action cannot get back into the dashed line area of the falling wedge, expect further downside. BABA needs to get through the POC of the VPVR indicator which is currently...
STMX has a tiny bull pennant. 70% chance of breaking up.
If it breaks down, the green rectangle is a good spot to place a buy order and buy retest of huge falling wedge.
RSI on the daily time frame still has room to run up so I think the bull pennant will break bullish.
If it does break bullish out of the bull pennant, expect a fast rise in price because...
This chart is showing a few bullish indicators for VIPRF.
On the chart, we see a possible cup and handle pattern forming. If you enter now, you will potentially buy near the bottom of the handle.
Furthermore, the price action is retesting the .618 fib level and we also see a double bottom in the RSI. The MACD is starting to converge bullish and if this bullish...
The orange trend lines show a bear pennant is forming. We are overall in a bull market because the price action is above the 200 daily simple moving average. So, this may not play out. However, the 20 daily simple moving average just crossed below the 50, 80, and 100 daily simple moving averages. This could signal the start of a bear market.
If the bear pennant...
The orange trend lines show a bear pennant is forming. We are overall in a bull market because the price action is above the 200 daily simple moving average. So, this may not play out. However, the 20 daily simple moving average just crossed below the 50, 80, and 100 daily simple moving averages. This could signal the start of a bear market.
If the bear pennant...
