A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.
A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
If we break out of that longlasting channel we will breakout into a new bullmarket. Need a close above the line though. Till than, I think we stay in the channel.
I see a double bottom performing on the red line which would match the trendlines. These are not 1h trendlines, these are SOLID, HUGE Trendlines just to say.
Furthermore, the weekly RSI indicates,...
I could be wrong, but it looks to me like BTC may want to cool off a bit before plowing higher. If the top of this channel is not broken then it is very likely we will touch one of the lower Fib numbers. I still have my core long position but I did manage to raise a little cash during all the recent chop. I hope to redeploy it on the long side below $5K around...
The price has formed a bullish channel after breaking the previous bullish channel, there is a chance for history to repeat itself. The price has started to make its way towards the support level of this channel, if the price is able to break below the support we could see some major drops in the value of this pair
What if... we continue the bull flag?
The measurement of a bull flag is telling us, that the target is the length of the first leg, measured from the trigger out of the flag.
Big Target for 1 BNB around 162$
Of course there is going to be turbulence at the ATH. But we have high chances to break it, because who wants not to be part of Binance nowadays?
What do...
Good morning, traders. Price continues to push up gradually. Our targets remain as shown in the charts.
As mentioned yesterday, the current TR as drawn on the daily appears to be reaccumulation with an uprise with an immediate target of $5910/15 based on the height of the TR, on the larger TF. The 1H chart has price printing an ascending wedge as it looks to...
Price tried to break the channel but failed. It will pull back a liitle and try once more.
We expect the breakout this time. It is safer to trade after the breakout.
You can try to catch the right shoulder of the H&S pattern
Thank you for your likes and comments
Good luck
BITCOIN (BITFINEX:BTCUSD) is testing the upper border of the ascending channel. Two attempts were failed during the past hours. There may be another test, but with a high probability, a Pullback may happen soon.
Reasons:
Overbought / Resistance (Yellow) in 30 minute, and 42 minute time frames.
In 15 minute, a Double Top Pattern is formed.
MACD Divergence in 30...
BITCOIN(BITMEX:XBTUSD, COINBASE:BTCUSD,BITFINEX:BTCUSD)
is completing the retrace and is ready to retest the upper border of the ascending channel, 4150 in Bitmex.
Reasons:
All the ribbons turned Green (Bull context) after yesterday's pullback.
MACD-1H in Bull Zone
RSI-30m has higher bottom
Compared to Mar 18, similar scenario may repeat
Since it is on the 30%...
BITTREX:DASHBTC
DASH got to the top trend line of its downtrend parallel channel really strong and it broke it. Now it seems to go back to test that trend line as new support. Considering the candlesticks and the oscillators in 4H Chart and 1D Chart, we place this trade idea going LONG.
#DASHBTC #DASH #TRADINGCRYPTOS #BITCOIN #TRADEIDEA
Good morning, traders. Everyone continues to scream that the sky is falling but price action is telling us something different. Even I had taken a quick position that we may have completed subwave 5 even though I mentioned that I didn't like how short it was. After this weekend, I believe that we may not have completed it yet and, as a matter of fact, subwave 5 of...
hey guys,
very simple trading opportunity on euro dollar this morning.
we have an expanding wedge pattern, and the market has just reached its resistance line.
also, analyzing candlesticks we see a formation of dodji.
+ take into account that market is approaching a resistance line of a major...
Bitcoin is in its final stage of it current bubble.If the current trend doesnt breaks below below 2000$, we might see one more bubble of magnitude way bigger than 2017 mass euphoria.Crypto marketcap will explode way beyond 4-5 Trillion$.New Crypto Billionaires and many millionaires would be born.Many lambo boys would get "rekt" catching the euphoria at the top of...
Don't sell in that zone.
Let's wait for a pullback and buy.
Potential entry between 1292-1290.
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Here we have a chance to sell USDJPY within a descending channel.
After a period of consolidation, a smaller ascending channel has been broken to the downside.
If bitcoin were to do nothing more than to rise within this established channel it has the possibility of reaching $500K within 5 years. If it were to break out of the channel to the upside it could hit that target even sooner. Of course it would revert to the mean again eventually but either way, I like the long term look at bitcoin.
Consider this your daily...
Possibile risalita di questo cross dopo aver toccato la parte inferiore di questo canale rialzista in 4H che corrisponde al 50% del ritracciamento di Fibonacci.
Entrata: 145.940
TP: 147.500
SL: 145.840
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