Ravencoin has a fairly predictable pattern of creating sharp falling wedge and then breaking out of them violently. There was even another one that is not reflected on this graph as it happened before the coin was added to Binance.
I don't have time for a very long analysis but as a long time miner and holder of RVN it seems from my experience we are due for a...
Riding 50 week linear regression mean while squeezing toward the end of current wedge. Fib levels ATH/Local Low.
Support: Non-linear regression (labeled), 61.8%, and lower bound standard deviation -1.
Resistance: ~$10.8, $11.5
On the weekly chart, we see a regular Bearish Divergence
On the daily chart, we see a pullback to the 20 (and up) or to be 50 EMA.
BTC dominance trend is still bullish, the main trend and hence go with the trend
Confluence with ALT coins recently either maintaining its range and in some cases breaking out of its downward wedge Macro...
At this point, one can see that there are a number of WEDGES that are part of the overall MACRO (Ascending Triangle? to be confirmed) formation.
As such, don't overstay your welcome with the recent, or 3rd Wedge formation as we have observed that people are prepared to go shorter than usual.
Close up on the current wedge, behaves within the fib levels...
For the past 2 weeks, many traders have tried to join the uptrend on USDJPY.
Is it still a good idea? Maybe not anymore. The chart analysis on the M15, shows that we just had a breakout of a rising wedge that seemed to be very strong.
Not going to trade with any short position, but I will not even plan long positions for this week.
SPY looks to have created an ascending wedge that started back in January of this year. Based on global economic conditions and recession indicators, it looks like there will be an aggressive sell off. Companies have started spending less although debt is cheaper than ever. I assume big players in the markets are stepping out before a bigger sell off emerges.
welcome to another free signal!
How to trade: 1. Wait for the market to breakout the falling wedge.
2. After the retest, rejection of the triggerline and falling Wedge you can buy.
Buy here: 0,67630
Target 1: 0,67845
Price Action has presented itself a continuation of bearish momentum which is logical since we have Bearish Confluence in HTF (Higher Time-Frames). I feel like it is too late to hop onto this bearish breakout, therefore i'm speculating price to move to attractive key levels of structure. I'll be looking for bullish opportunities back to Previously Tested...