Descending wedges are special patterns that always break upwards in profit.
Pattern is not complete until it closes ABOVE the wedge and breaks it.
Volume profile is indicating some support at the POC level, and things are starting to set up.
Possible that it may continue as this pattern is not confirmed until breakout.
Price in VAL zone below POC of $25.4, and especially below the 80% mark. High volatility area for buyers. Price expected to rise.
In addition, it's in a descending wedge, which is a special pattern indicating that price will rise upon breakout.
Breakout not confirmed, but indicating.
It's a weird megaphone/parallel looking channel.
it's the bottom of the channel, and the it's expected to rise as the RSI MA and RSI (5) are both in oversold along with the channel.
Strictly from chart analysis, this is looking like it will rise ot $0.94 very soon.
Volume profile in comments below
Opening a long for a few months at least on OCEAN.
PATTERN IS NOT COMPLETED UNTIL IT PASSES THE DOTTED LINE.
Temporary set up:
It's broken a reversal pattern - cup and handle. Specifically the handle part which is like a bullish flag.
The temp. setup is to take profit at the dotted line and open long position now.
Long term set up:
If it passes the dotted...
Doge looking like it's in a healthy pump.
I've left some comments on the chart.
The blue lines are all liquidity lines drawn at the wicks of varying candles from Monthly candles to Daily candles. There are even previous month's levels.
The red lines are all S&R levels, which can either turn to support or resistance, but I don't label them separately because it...
XRP has confirmed the break of the neckline turning into a bullish formation.
First and simplest resistance is towards 0.76.
Around the 0.8 mark is the liquidity zone where most sellers will be wiped out for an interesting move after that.
heads up - short term bullish
As discussed in my live TA from TikTok, we were looking at the XRP pattern, and I was warning of the double top. Looks like this happened, and now I'm aiming for $0.65 for some support.
The yellow path is my previous on going analysis from my live TA. The yellow path was us tracking the sym. triangle formation with my students, where we were looking at how the...
Stuck in a triangle, up down, next rise possible to $0.328 within 2 days.
However, this is a neutral pattern, we don't know the exit until a breakout occurs.
Volume profile indicating possible volatility at this level. Don't expect big moves. Maybe +5% in two days.
ADA needs a better pattern on the daily, right now it's only good for short term. Like a week.
There are two possible scenarios.
1) It still hasn't hit the SOS Phase D, which means BCT is headed to $48k. This is supported by the bullish trend line that it has not used as support yet. That means there is potential to rise.
2) Phase D and E are both finished, this is supported by the recent dump last night.
I think the bullish scenario 1 is way more likely...
#1 - XRP has broken the resistance line coming from 2021 and seen a spike in buying power.
#2 - XRP is forming a cup and handle which I drew out 5 months back and it is still playing out. Bullish sign. This is the white dotted line.
Zoomed in view:
On the contrary the Volume profile is looking bearish, and seems like a dump is coming, however, it is using the...
1 - There is a bearish double top that sends this coin back down towards $0.35. Shown with the white line and RSI.
2 - There is a bearish possibility of it coming back from the recent break to get support before rising higher. this too is around $0.35
3 - There is a bullish possibility of it touching the higher red FIB level around $0.5, but then it will come back...
On the regular chart as shown it has broken the resistance and that's why we're seeing a rise.
However, on the LOG chart posted below, it's still not clear yet.
The red zones are heavy resistance zone and orange is an indecisive range.
When it breaks I will update the TP in the idea.
I drew this pattern months ago, and it has been following it nicely.
It's called an ascending triangle pattern. It's a neutral pattern, meaning that price doesn't really fluctuate much outside, but in the triangle it may see small pumps and dumps.
At the moment, hero is touching the bottom of this triangle, which is why it's on a slight pump.
But be careful, it's...
ETC Breaks a descending wedge pattern on the WEEKLY. That means extreme price pumps are about to happen.
It is just breaking it now and RSI is looking healthy at the mid range , slightly bullish.
Bullish target: $ 36.00
NOTE: on the log chart it's still stuck in a bullish flag (parallel channel)! This is a bearish sentiment. But from FIB levels and RSI this is...
Cardano lost market sentiment in SEO search results to other trendy coins like doge and shiba.
However, technically speaking from the charts, ADA has broken a nice resistance line on the daily.
It is eyeing the $0.63 zone on the LOG chart according to the FIB levels.
This is a heavy resistance zone, and I don't expect the price to stay here long.
For short term...
XTZ enters the bottom of the all-time-low zone on Binance USDT pair.
This shouldn't be this low.
XTZ behaves the most erratically compared to BTC movement.
This chart is in Heikin Ashi candles, and I am waiting for one Weekly thin candles with long extending wicks on both ends to indicate a trend change. Then it's time to buy big.
I will keep updating the coming...
Proof of my trades and profit is in the trade history below this idea. Read them, I am x2 my initial investment. (213% profit)
We are at the 0.786 Fib zone for OCEAN around $0.55. This is a short term 15 min set up.
This is creating a crude bullish head and shoulders which means above the red box this thing flies.
But at the same time, rejection at the red means...