After rallying to ~270.00, it seems that the excitement is evaporating for ETHUSD . Since then, the price has formed a Symmetrical Triangle pattern . I personally tough this is a consolidation for the next jump to the blue sky territory. Nevertheless, even though this pattern did breakout from the top, but soon later, the price pushed back to the boundaries of the...
Looks like a descending triangle might be in play for KEYBTC.
It has broken down from the longterm downtrend channel and seems to be forming a descending triangle.
Now, I wonder whether it will touch the descending resistance line beetween 48/50 one more time in the coming week.
A break of the black support line at 43/42 could bring it further down.
Bitcoin is either going to test support at $7,671ish USD or make a savage move to break this resistance at 8,263ish USD & consolidate above that double top or continue higher.
Time will tell per usual.
****UP**** towards target of the Weekly Inverse Head & Shoulders pattern (target around $4.8k)
****DOWN**** towards the bottom of the ascending triangle (at around $3.7k), and possibly even lower to retest the 200 Weekly Moving Average creeping up at around ~$3.4k.
The following few days will tell us.
April should be an interesting and volatile month.
BTC is printing Adam and Eve double bottom pattern and may produce a sizable rally if $4240 is broken.
This rally is limited by:
a) broken trend line - so it is just re-testing it before further drop.
b) broken descending triangle bottom line at $5800
I have outlines exit points on a chart.
Entry is at $4240 break and re-test.
Keep in mind that bullish trend...
Bitcoin is printing a bullish ascending triangle on the shorter time frames and currently playing out within a broadening wedge which is itself within a larger broadening wedge so there is potentially further room to the upside for btc and a lot of room to the downside if we drop below SMA200 on the weekly.
The target of the ascending triangle is around 5% to the...
Good day Traders
Here's my synopsis for the festive month ahead.
Bitcoin found the resistance of a large descending channel, is currently testing bearish pennant support and printing a falling wedge on the 15 min for a rise to around $3980, before breaking market structure and dropping to $3500-$3600, where we should have strong trendline support (which had...
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-Where the limits for current movement and what the next with info from the chart?
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Dear Friends! :)
So there has been some pretty bad FA-News about Verge lately, but will it affect the price now or will we be able to make 15 % on this trade?
We are looking at the 4h XVGBTC Chart! It's pretty easy to recognize what's going on, and what might happen soon OR Not! We have been in this uptrend channel for a long time. And suddenly after some time...
After my proposal for an H&S followed by a Rising Wedge both invalidated therefore
with positioning on a Long instead of the Short initially planned (see related idea)
I now propose the possibility of a Symmetrical Summit Triangle with bullish target
As usual, the trade is taken once the pattern confirmed with its breakout bullish and stop loss under the...
The price came to a resistance level which is at the 78% fibonacci level. At the same time it formed a triangle which can break out in two directions. If it breaks out upwards, the potential target is at the first resistance level. If it breaks to the downside, the first target is at the first support level which is also at the 61.8 fibonacci level.
I've tried to make this as visually comprehensible as possible by tracking each move, thus giving us a possibility of a third fractal playing out to end our parabolic run. As noted in the chart, we may not compete the entire fractal and end midway. Each fractal seems to exist within it's own channel before ascending out of it into a new one. That would make sense...