HOW TO TRADE THE ASCENDING TRIANGLE? 1. Wait for the price to breakout from the inside of the triangle. 2. Enter the trade when price retest the breakout level. 3. Set your Stop-Loss below the last Lower Low of the market structure. 4. Set target to be equal with the distance from A to B. This tutorial contains educational material. Please hit the LIKE...
Looking similar with the other 2 coins IOTA and BNB. Currently the price is trending slightly below the resistance zone of the ascending triangle pattern for short term perspective. But, for longer term perspective there is a small gap for the price to test the resistance trend line that is a strong resistance zone. Breaking above this resistance trend line will...
Currently the price is trending slightly below the strong resistance horizontal line (white). Beside that, there is still another hidden bullish divergence on RSI that is forming now. Breaking above this resistance will leads the price to interim swing high as the nearest target.
Here is my premature deduction based on the Elliot Wave Theory and count on Ethereum Classic. There could be a complex and flat correction wave on 4th which forms a potential descending triangle that usually becomes a failure. Beside, the RSI has its first peak and there could potentially the 2nd peak which forms a lower high but higher high on the price. Breaking...
Quantum is looking good for now. The action of slowing down of the volatility and the fact of the contracting triangle to form after a huge break out from the white resistance trend line could be the action of the accumulation zone. During this accumulation phase, the bulls is slowly gaining some momentum of potential breaks out to the upside of the triangle....
The price is currently forming a Symmetrical triangle with the sign of lower in volume and volatility. On the 2 hours chart the price is trending slightly above the EMA 55 (yellow) which acts as a dynamic support. This is however a strong support for Pundi X. While the price comes closer to the APEX of the triangle, I'll expect a breaks toward the upside and...
IOTA is currently trending above the white resistance trend line after a phase 1 of break out strategy. there is a high probability that at current structure, the price is forming the 2nd phase of break out strategy which is retesting the previous broken resistance as a support. After this break out, the price forms a descending type of triangle which I expect...
Bitcoin is now at a very crucial momentum with a lot of bearish pressure has occurred in the short term and lower degree of cycle. This is however still a normal behavior from the market and the choppiness that is still ideal when you see the price tries to break out of the psychological level like $10000 region. If you say that the price is going to reverse at...
Just as with ascending triangles, most of the times, the price will break the horizontal support line, and continue with the move lower. there is usually psychology behind every chart pattern ; and ascending and descending triangles are no exception. Follow me closely as we will now ‘investigate’ the PSYCHOLOGY behind ascending triangles : To make the analysis...
Ascending triangles are classified as continuation Patterns . Here are the key elements that make up an ascending triangle: 1. Bottom Trend Line(Support) – An ascending triangle is characterized by a bottom trend line that is formed as the price continues to set higher lows. The more touch points on the trend line, the more reliable it will be. 2. Horizontal...
BTCUSD (Update) In Daily Chart, Bitcoin forming Ascending Triangle Pattern. Daily EMA50 acting As Strong Support (Tested 3 Times in last 34 Days) In Bullish Case, If Resistance (10.4k) got Cleared, Next Stop Would be 11666. If Ascending Triangle & EMA50 (9.1K) Broken Down, then Bitcoin Might Test the Major Support (8.2k) By the Way, Volume has been...
This is a chart with the entire pattern of BTCUSD value from pre-2009 projecting into 2030
Hello all, I want to give an update of current market's condition. We have seen some high volatility movement lately in the last 8 hours, will it become the confirmation of the next potential moves? let's see! There isn't any strong argument that can deny current resistance level that the bitcoin faces. There is a huge historical price action and the major...
Hello all, Happy Saturday! Today I want to cover about today's potential volatility that could occur in the market. Now, let's do the technical analysis. Whenever it comes to the weekend, usually the price will have an extra volatility due to the closes on the CME daily candle in the next 2 days and a potential addition volume from the retail traders. With this...
#BTC (Update) In Shorter Timeframe, Bitcoin Forming Expanding triangle Pattern...!! 3 Days ago, Bitcoin tested the 10.4k Resistance (Higher High) but Rejected it. At the Moment, Holding the Crucial Support (9.3k) But Big Move Ahead. Now There Are Two Possible Scenarios.. 1- If Bulls lost the Support, Bitcoin might form Another Low (Might test 8k Area) 2-...
The height of the descending triangle gives a target price below if projected downwards from the support price (in this case its about 425 pips)
GBPJPY (Update) In Daily Chart, Forming ascending triangle Pattern (Bullish Pattern) At the Moment, Facing Major Resistance (135.40), If Bulls Failed to Clear it, expecting Trendline Retest ( Higher Low) If Resistance got Cleared, Next Stop Would be 144.00 area (Next Major Resistance) Please like the idea for Support & Subscribe for More ideas like this...
BTC/USD (Update) In Weekly Chart, Bulls Facing Crucial Resistance (9.6k) If Bulls Cleared the Resistance, Expecting Bitcoin Bullrun in Coming Weeks.📈 If Bulls Failed to Clear the Resistance, Bitcoin Might Retest the 6k Area in Late June..!! Volume has been Decreasing from last 4-5 Weeks, While Bulls Need Power to Clear the Resistance. I think Bitcoin Might...