Chart patterns are the foundational building blocks of technical analysis. They repeat themselves in the market time and time again and are relatively easy to spot. These basic patterns appear on every timeframe and can, therefore, be used by scalpers, day traders, swing traders, position traders and investors. There are 3 types of patterns, depending on how price is likely to behave after completion: reversal patterns, where price is likely to reverse, continuation patterns, where price is likely to continue its course and bilateral patterns, where price can go either way, depending on whether it breaks to the upside or to the downside.
The measurements of the chart pattern can be used to project the next price movement and what target to aim for. These patterns can either be traded aggressively (with less conformation) or conservatively (with more conformation) so the rules of entry and exit can vary. It's easy to calculate the reward / risk for them, which is important to know before entering a trade.
Back in late June and early July we mentioned that Bitcoin was likely to go through a consolidation or ranging phase which could last weeks or months. Here we are two months into a consolidation and we are still ranging. Nothing has changed and until the market decides to trend, most are simply guessing at the direction.
The only thing that has changed is the...
People love to bash the XRP chart. XRP haters love to say it's "the worst performing crypto asset" — which, in 2017 it was actually the best performing crypto asset, so that's false. Among other usually false things, they point to the fact that XRP remains in a bear market, while BTC and many others have enjoyed powerful gains. Well, I'm here to show you that,...
We can see up trend
Last two month we moving in up trend channel, we already touched resistance line of this channel and now forming symmetrical triangle. Altcoins start moving and BTC dominance can go to first support line. After that we will observe whether we break the support line or not. But we must always remember the blue magnetic support line. Even if we...
There is not much room to continue sideways action since we are approaching the apex of this symmetrical triangle.
The breakdown is more likely (would give it a 70% chance). On the way down we can meet support at ~9600 since we have the EMA 200 coming there + horizontal support + ascending trendline. Don't think it could hold the price.
The conservative...
Hello and welcome to my Trade Idea of the currency pair BTC/USD.
Lets start with the Top Down Analysis.
Daily: The daily timeframe is bearish.
H4: We see on the h4 timeframe overall a downside trend with beautiful pullbacks to the upside.
H1: Here we see the upside pullback in more detail.
M15: On the m15 timeframe we draw the counter trendline and wait...
Hello dear crypto friends, hope you're doing well! ;) Much is going on with Edgy's services & my mentees currently, so I didn't have much time to post unfortunately. Big announcements are gonna come very soon.
Bitcoin is currently in a Descending Triangle on the Daily, which will see a solid breakout coming.
To the downside we have $9k psychological as...
completed bullish gartley pattern formation on USDJPY.
it is a very good trading setup for those who will trade the market opening on Monday.
Entry - on spot
Stop - 104.8
T1 - 105.8
T2 - 106.2
After the previous strong dump, BTC has already tested $9700 support and then tested $10000 support after a rollback. Now we can see how the price trades right next to the support of a global upward movement, sometimes it even manages to do some fake breakouts (marked with red pointers).
Thus, we see the strenght of bulls, which are desperately holding back...
@Allmypips #Ripple long term analysis.
Looking back to 2017, we can see that there was a very similar lateral support zone.IF we can see before 2017 support resistance level crypto market always repeat circle (HIGH VS LOW).At the moment price holding the major support level. You can see on the chart current price, moving the same pattern like 2017 bullish rally....
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Hello traders investors and community. There is an interesting observation which i made and want to share with you today. It is revealing the magic bitcoin
halving-cycle in which we seen huge growing of price after the past...
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