#BTC/USDT
$BTC broke down support and dropped to lower zone of rising wedge pattern.
🐻 break down from lower line of rising wedge will drop price to support zone or even ascending support zone.
🐮 if bulls succeed to hold the lower line of rising wedge price will have another leg up toward upper zone of this wedge.
wait for a break or rejection!
Hi everyone,
Yesterday I talked about how Bitcoin was forming a head and shoulders pattern and the possibility of going to the last major resistance level. I also gave a free signal as an idea for DOTUSDT(Make sure to follow if you missed it)
Today, I wanted to analyze something different instead of analyzing Bitcoin, so we going to take a look on Ethereum and...
2023 is going to be a very bullish year for crypto in my opinion!
I believe we can reach a market cap of 6-7 trillion dollars by December 2023.
Most likely, you have never seen this rising wedge elsewhere, because it's a brand new pattern on the weekly scale (LOG).
200 moving average is considered a strong support by huge institutions and hedge funds, and the...
This local correction should be over very soon, and we can continue higher in the uptrend!
It's not an easy task to do an Elliott Wave analysis here, but this is how I see it.
As per my Elliott Wave analysis, we are in the impulse wave 3 of the huge impulse wave 3.
Currently, we are very close to the acceleration point, where we will see an increase in...
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this ETH update.
ETH is forming a rising wedge structure in 6hr time frame which is generally a bearish pattern. ETH is hovering in $1650-$1750 zone from the last few days. If it breaks down this rising wedge structure then it will be bad for ETH and many Altcoins....
On 4 hour chart it shows us a rising wedge pattern which indicate some correction in up coming days. Suggesting a price range in this market is quiet tough but i think it will move towards 20000 range again.
Gold was up $6 to $1771.9, the precious metal was above 20D MA (@ $1731) & below it 50D MA (@ $1796),
Here we can see clearly the next move for Gold, while we can see clearly its trading within a Bearish Ascending Wedge, This is a bearish reversal signal & the lack of progress higher has confirmed a sentiment shift, A break of support @1772.00 should lead to a...
On the daily chart we have 2 parallel channels that indicate 2 impulse Elliott Waves.
As per my Elliott Wave analysis, this huge impulse wave has been completed and now we should go sideways or down!
The first trendline is breaking out, and usually that means that other trendlines will break too.
The first target is at wave 4 + 0.382 FIB + parallel channel...
Pay attention
The Bitcoin price formed Rising wedge pattern and
OBV divergence is formed
and MACD divergence too.
It is strong bearish signals.
The target is 19 K next week.
Looking at ETH on the Line-Chart set to weekly, we can see a familiar pattern similar to the BTC wedge I've posted previously:
ETH has 3 choices at this current moment:
- Unexpected wave of bullish momentum propels it to the upside breaking the upper TL sparking a parabolic rally
- Slow depreciation in value to the lower support TL before rallying again
-...
The more touches at supply made the zone weak, it had to be liquidated at some point.
Now that we have successfully liquidated the supply sellers with compression delivery, we may see a continued sell-off.
I will be locating a sell with my team later in the day depending on the rejection.
Two different types of Wedges both showing a similar sell point entry
The sell point is right below the wedge, so if a breakdown occurs, a retest and consequent rejection follows
This is common between both wedge patterns
From personal experience I have seen Rising Wedges act more bearishly than Broadening (megaphone) structural wedges
However both of them have...
its coming to down line of wedges, can hit $17-$18, lets see
if hit $17-$18 range then we can get entry, that time stop loss should be little down of low line
This is my quick update on Bitcoin on the 4h chart (local price action).
Price is still holding the major support zone (21 700 USDT - 22 000 USDT) and that's why my bias is still very bullish!
We have an incomplete rising wedge, so there is a great chance for another wave to the upside.
As per my Elliott wave analysis - we are basically in the middle of this...
#ETC/USDT
#update
$ETC broke down and done its pullback to confirm the support zone as resistance.
also RSI below HMA is a bearish sign.
🐻 so it seems bears are in control
