The Wedge pattern can either be a continuation pattern or a reversal pattern, depending on the type of wedge and the preceding trend. There are 2 types of wedges indicating price is in consolidation. The first is rising wedges where price is contained by 2 ascending trend lines that converge because the lower trend line is steeper than the upper trend line. In other words: the lows are climbing faster than the highs. These wedges tend to break downwards. The second is Falling wedges where price is contained by 2 descending trend lines that converge because the upper trend line is steeper than the lower trend line. In other words: the highs are falling faster than the lows. These wedges tend to break upwards.
Conservative traders may look for additional confirmation of price continuing in the direction of the breakout. The target can be estimated through the technique of measuring the height of the back of the wedge and extending it in the direction of the breakout. A common stop level is just outside the wedge on the opposite side of the breakout.
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I expect to see a dump before 6K. 5650-5800 will be the top IMO (Bitfinex), Rising Wedge is a Big Bearish sign.
This will led to 4550 or maybe 42000.
I think 4200 would be healthier because if the Support hold maybe it'll be the new bottom and if it crash we are going to retest the Last Bottom and this will confirm it.
After that We are going to somewhere like...
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Gold on big wedge up to 1280 above 1290-95. Bottom wedge 1270, SL 1265. Above 1295 up to 1340-50
Spotify (SPOT) looks has found itself in a pennant/wedge and is poised to move within the next few days after touching down on DTL support and bouncing higher. RSI in alignment.
Target: 168
Current movement sucks a bit :), difficult moves to predict, so normally i don't want to do anything. But to give you something to work with, i am going to do an analysis with a few scenario's, for the bulls and bears.
1) I have drawn 3 charts here. The one on the left, is already moving as suggested past hours. Made that last bounce up from that curved line. My...
Happy Easter Traders!
Bitcoin has been in a weird, no trade zone for a while now without much action, but I suspect that's about to change.
Bear traps, bull traps, rising wedges, ascending triangles, bearish divs... WTF is Bitcoin planning here?
To be honest, I am not in a margin trade right now as Bitcoin isn't giving much of an edge at the moment and the...
Lets get straight to the point, bitcoin is going down in the short term however so i'm here to prepare you for the best short you've had in your lifetime !
One of the first support lines of bitcoins big bull market surge is the 100 MA line which acted as support throughout the whole bull market, once bitcoin broke down below it you can clearly see it acted as...
I was watching KHC since it hit news streams with eyes opening 25% drop opening waiting for it to show some strength. I believe daily chart and weekly as well finally giving us a signals to go long or even invest into Kraft Heinz Company longer term. We can see on a chart stopping volume on a gap opening day. RSI divergence on daily and RSI going above 30 today. A...
I can't.
Can you imagine longing this rising wedge on low volume and forced out until the last candle? I can't.
Many can imagine. The whole Crypto Twitter + Trading View chat moonbois are into a big long, waiting for a breakout to 4500$
Breaking news? Ain't going to happen.
Don't panic bottom will come soon, will be short lived and we all can get along with...
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...
the breakout target for this one is right around 39 cents, this breakout comes on the heels of the IMF saying very good things about ripple as they tend to do and Asheesh Birla revealing that not long from now xrp will be expanding its corridors beyond just Mexico and the Philippines.
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