We could retest the previous wedge or we will see a raise to the last high at 6550. A descending triangle is normally a bearish chart pattern, but I'm totally neutral when I compare it with some bullish indicators.
USDJPY exchange rate is moving inside Monthly symmetrical triangle and is moving around the upper "resistance" line. On a D1 and W1 price is forming a descending triangle with longer upper resistance trend line --> What do we know about trend lines? The longer they are and the more times they have been touched, more reliable they are! More so on a D1...
The price has broken out the bottom (support level) of the descending triangle, this has given a massive signal for further bearish moves to be taking place, cryptocurrencies are no longer being hyped up as much as they used to causing the currencies to lose momentum, I believe that these currencies would be falling for a while yet, but I do believe these...
It currently looks like LTC has managed to breakout the support line of the descending triangle, this is not good for the future price of this pair, as the analysis is starting to look very bearish. We see that this pair has been moving for a long period of time creating this triangle and it has finally broken out, I think the price would retrace back to the...
A descending triangle has formed, this usually shows signs of a bear move, but in this case we could see the price break out the resistance level of the triangle. We would have to wait and see for the direction of this pair and I would be posting regular updates to keep everyone updated about what is happening with this pair. The RSI is at an oversold level...
Retail investor confidence is at an all time low, however institutions will soon have custody options (Google coinbase custody). As Mike Novogratz (former Goldman Sachs exec) said, institutions are waiting for custody before they fomo into the market. Bull or bear, everyone who has an interest in Bitcoin should watch this video www.youtube.com Right now I don't...
Litecoin has gone down very quickly, and a oversold bounce may occur. The RSI is at 15, and there is a mini double bottom. However, I'm not suggesting a long term bull market, just a short term bounce since Litecoin did break down from a huge descending triangle.
Hi guys. How are you ? What do you do in the market fluctuations ? In these days, many people are afraid of the fall of the bitcoin and ask me what will happen ? If you remember, in my last analysis I had predicted this conditions and prices. I said before the uptrend started, price will touch the bottom of descending triangle pattern. And now with look at weekly...
Ethereum seems to be testing this strong support level, the price has started to become very volatile as the triangles are becoming more and more narrow. The RSI is moving down towards an oversold level meaning the RSI might be supporting a brief correction period. The price seems to have gained bearish momentum over the last couple of days after a very bad few...
There are clear bullish signals that bitcoin may move up in price temporarily, the price seems to have tested the support level, which has been in place over the last few months, and was unsuccessful breaking below it. The RSI is currently in an oversold area and may be signalling that the price has not gained enough momentum yet to be able to push the price back...
To begin with, I have to note that I'm still seeing some bullish calls on bitcoin, difference of opinion but, how many indicators do those deeply tunnel-visioned folks need to realized the current state of bitcoin and the crypto market in general? I know most of you folks do not like the kind of approach that the graph is showing, but have to be realistic,...
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Popped early today with the volume influx and is now riding a resistance trend down into a collapsing triangle. Stochastic is about to reverse and its accumulating. INS has a very low share supply so it could jump to the nearest resistance is 1300 or higher, offering the potential for a quick 10%+ if you feel like taking a shot. GLTA
A descending triangle is formed in ethereum 30 min chart and a possible correction to C wave is expected to Target 1 region . Dont take my correction time seriously its just to give overall expression. Comments are welcome and please free to make me correction in the charts too if you see any other trends.Here to be a good technical analysis and grow with the community.
Bitcoin seems to be currently testing a strong support level which has been holding for months. It is a crucial time for bitcoin because if this support level breaks we may see massive drops in the price of bitcoin, the RSI is currently showing an oversold signal meaning it is in favour of bitcoin going up. It may not be that simple as bitcoin has dropped due to...
Bitcoin has formed a huge descending triangle. Descending triangles are considered mainly as bearish formations especially in bear market like the current one. I am not taking short trades in any crypto market but it seems like the support of 6200-6500$ isn't going to hold this time. The most likely zone of reversal in my eyes is still the 4900$ level and I ll be...
Hi, everyone! BTC dropped to the key support level that we have seen twice since "big rally" in the same time turning from symmetrical triangle which is Bi-Lateral pattern into Descending Triangle, which is BULLISH. If 6000-6500 will hold, we should reach a wave "E" first, and if the breakdown occurs at 8500-8800, the target will be ~13250 at 0.5 Fibonacci. BTC...