We hit my IH&S pattern but could not break up from the rising wedge. Instead we have broken down, I think we are heading to that weekly 50 ema at 13,500
• Broke out of a big channel – 90% chance of going to the bottom • Downward trend creating a lower high • Came back to retest the channel’s support • Created a rising wedge which is now broken
This is an update for the previous chart. A Rising Wedge formed in November 2020, you can see that it has broken to the downside with a target retracement of 20% medium term. I opened up a short as soon as we broke the trend, one can play through each level of S & R seen on the charts. 3640 is the target for 20% downside. Buy resistance, sell support....
Rising Wedge and bounce off trendlines with low volume point that BTC will retest the bottom levels of support after breaking down from a rising wedge this set up is on the 4 hour chart.
I see bearish flag and rising wedge. If the upper support of the ascending wedge is broken up and a 4-hour close, this possibility will be cancelled. The first target is 44.5k when breaking below the wedge and closing in 4 hours. If the wedge target is completed and the bear flag is active, the target can range from 38k to 38.5k.
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wait the conferm on false breakout on double top and open short with target at golden pocket stop loss on 0.3 fib
Although this patter is a bearish one note that this is a weekly chart and I expect a rising of DeFi dominance at least until the first third of October. This means overall DeFi will keep pumping. I hope you own some of them! Thanks to Blockwolf for sharing with me this DeFi domindance ticker which I didn't know!
keep it simple and too the point. BTC must go down a bit to invalidate this rising wedge. because its not good for long term bullish momentum. try to go short after 49k region if you want.
TWO REASONS TO SELL GBPCHF 1. Price hit the daily resistance level 2. Formation of the rising wedge on 4H To short with confirmation and confidence wait for the breakout of the wedge and sell on a retest. Once the price breaks to the upside then we will look for another setup. What is your idea on GBPCHF? Bullish or Bearish?
Since $AMC broke out of the huge wedge on the 20th of Aug, it has been forming a rising wedge approaching the low 50s. However, you can see the 14-day RSI is approaching overbought territory and there is a divergence in the MACD. This is a time to take profit or stock up on more once it reaches 45USD (0.382 fib level)
8hr timeframe had an amazing run-up of 500% + since the start of Jul... In rising wedge since the start of Aug. Now pulled back almost exactly to the measured move of break down from this wedge, and that is also the big support level which was tested multiple times in the first half of Aug... If that support is lost, we could see a massive selloff, but also if...
After the Litecoin situation there maybe a bit of a pullback in WMT itself due to the amount of hype it got this morning before the news was proven false.
Fresh off the presses from the 3 day close. The current top and the top of early 2021 have a lot of similarities. Key for this idea are the bearish rising wedges which are confirmed by falling volume as the pattern continues. If this is going to keep going with the similarities we are going to see the red volume really begin to pick up now that the DI+ has...
BTC has formed a rising wedge after bouncing from 44k with low volume. I am anticipating a breakdown to 43k, and my stop is above 46.3k on my short, as that would make a higher high and make the rising wedge much less likely of playing out to the downside.
A Rising Wedge in a Bullish pattern, very possible turn into BEARISH. As we see ONE try to break the 0.21, but failed. And another sign is the volume is going down. Be prepared to go down at next support level 0.18. Unless there is a big volume trading push through the resistance 0.21, in this point I think there is very small possibility.
Intro: - Reef Finance tries to become one of the most used blockchains for DeFi. It's fast, scalable and has a low transaction costs. Reef Finance is build with Polkadot Substrate and comes with on-chain governance. - The DeFi sector did have a hard time during midyear but finally recovers and with it also REEF. - It takes some time to create such ideas and...
Hello traders, Looks like we may been in for a boring weekend ahead ranging with some possible stop hunts or wicks but as of now we haven't really moved at all. Sometimes over weekends PA remains calm because of future's CME closing on Friday and Opening a few days later Sunday/Monday. So to avoid filling a gap price remains in the same zone it closed at,...