Rising wedge breakout - BTC's arse (the bottom established by descending broadening wedge) appears to be at risk!
I believe this is what people like to call megaphones in the chat. We would need confirmation here of buying volume and breaking that upper trendline Descending Broadening Wedges tend to breakout upwards. Swing traders can trade the pattern from top to bottom and from bottom to top. After the trendlines are formed, as soon as price touches the upper trendline...
Look for a breakout above the descending resistance line to indicate a likely trend upward to the target line. ~81% of successful Descending Broadening Wedge breakouts will hit the target. Likelihood of the upward breakout? We'll see! Fighting a tough EMA50. This is not advice. I do not give advice. You do not want my advice. Cheers! -B
Looks like the Bulls are going to start charging this month !! Finally !! Remember that the Pterodactylus flew !!
We'll just have to see what happens, double down, double down, double down.. You can have my coins if you can pry them from my cold dead hands !!
More analysis to come. But this baby is growing exponentially and repeating patterns that it did before. We're coming to the end of this correction. Two pieces of evidence for a descending wedge AND a cup and HANDLE!! This is IT right here guys! Let's say we continue this linear progression for growth that we have seen for waves 1 and 3, then wave 5 could lead as...
Why not get bullish ? Here is a traditional idea.. Lets see how the Heartbeats compare to the self fulfilling psychological patterns of the old school..
Anytime we've seen Vertcoin sub $8.00 it's been easy money. I just noticed this descending wedge pattern forming and I think this thing is ready for takeoff. If you notice, the RSI and MACD have been consolidating for a while and are ready for a breakout. Bullish runs give me the feeling this is going up, as long as Bitcoin continues either sideways or up. So many...
Doing an update on my earlier analysis on BTC/USD consolidation pattern forming with support and possible entry at $14,075. Price channel has held through consolidation also forming a bullish pennant/descending wedge. We are also between a bull (green) fibonnacci level and bear (red) fibonnacci level. If we break above top trendline, we will either hit...
After a solid rally with increased volume and interest for EOS we are now at what looks like the end of this descending wedge formation. Looking at the bounces in the RSI a solid recovery is possible. However there is weakness showing at PPO and MACD that still fully open at the 4H timeframe. If broke on the upside 2 TP are achieavable with low downside risk if...
I think we are going to climb up to 7500 and beyond. I think one more minor dip as there is currently about 70% shorts at the moment. Push to 7500+ and then the correction will come. There is still some money to be made before the fork. Don't get caught with your pants down! I think there will be a major correction. BTC is still going up because over the last 24...
Here come a descending wedge pattern, I see pips :) what do you see? # NZDCHF !!Always remember to risk only 2% of your capital as it is a pain in the ass to recover from big drawdowns!!
Hello, traders! Today, we are looking at a bullish 5-0 on the 1D chart with USD/CHF. With price breaking out of the descending wedge, we can look for the market to make its way to C point. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
EURNZD has broken out of its descending wedge this week... Easiest way to play this is to let price bounce off the 200/250 ema and 12/30/16 (thin green line) to then pullback to the top of the wedge where the 50/60 ema awaits. Fibs should end up being right in that same area. If this plays out we would also begin the formation of a head and shoulder pattern. ...
Targeting 1.0520 from a reversal off 1.03800. Invalidated on a H4 close below 1.0350.
If breakout up 1190 then buy. If it does not then sell target below 1160.
Hi fellows, i am expecting breakdown of this ascending broadening with some strong candles. If price break up the upper trend line clearly then i will look for change in trend and change in structure. Once price will hit my upper broadening wedge trend line then i will look for sell based on price action at my upper trend line.