wuliwong

wuliwong

We are seeing a symmetrical triangle formed on the BTC daily chart. We also are viewing a general decrease in trading volume as the triangle developed. This leads to a higher probability that we will see a breakout to the upside and a continuation of the previous bullish price action.

wuliwong

YFI has been making higher lows and has enormous upside potential. There was also a very large harmonic on the weekly. Could be very good if BTC keeps heading up.

wuliwong

The big analysis is the momentum shift you see after a low, lower low, and then a higher low. 1Inch was also showing a descending parallel channel which has broken out of. The price has run up a bit since the last higher low but the upside potential when looking at the all time highs might still make it worth the risk. I would put my stop loss at the most recent...

wuliwong

We see regular bearish divergence forming on the BTC daily chart. If things hold as they are, this will be a sell signal for BTC after a nice run up.

wuliwong

There seems to be a large cup with handle formation over most of 2023 in META on the daily. After the completion there was a small handle formed and then a breakout of the top of the cup formation but this was a false breakout. Could this big, bullish pattern underperform and instead be a signal for lower prices on the horizon? Or might this breakdown be short...

wuliwong

We still have 4 days to end the week but after the first few days down, BTC is looking to form a head and shoulders pattern on the weekly chart. This is a reversal pattern from bullish to bearish. I believe you ideally would like the shoulders to be closer in height but I think this will still be a valid head and shoulders pattern as long as the weekly candle does...

wuliwong

It looks like a descending triangle has formed for BTC on the daily chart. This is a bearish formation in a downtrend which more likely than not, predicts a continuation of the downtrend in BTC. Interestingly, as I publish this idea we are seeing an attempted breakout to the upside of the triangle but this has yet to be confirmed. This pattern technically has a...

wuliwong

A pretty legitimate parallel, descending channel has formed the BTC daily. Two touches on the top, three on the bottom.

wuliwong

Another one of these large, curved, bottoming, momentum shifting structures for META. Could be a good time for a long position.

wuliwong

SNAP is showing one of those large, curving momentum shifting structures. I'm not 100% sure the strategy to trade something like this but for people looking for buy and hold for a little while, this could be something to consider.

wuliwong

There is a clear bearish pennant formation on the BTC daily along with decreasing volume. Expect lower prices relatively soon.

wuliwong

Some people have drawn this as a breakout but to me I am seeing this as the location of the supply line for crypto TOTAL. Seems we are just reaching the supply line but have not broken out.

wuliwong

We see a bearish pennant has formed on the BTC daily with decreasing volume. The measured move for this is using the last impulse down from the breakout from the pennant. This lands us at $17,367. Several of these bear flags and pennants in a row BTC. Hopefully for us crypto lovers this bear market turns around soon but I think we are in for at least one more...

wuliwong

Large ascending, broadening wedge structure looks to be respected with today's backtest of the wedge's demand line. This comes after a test of the supply line almost two weeks ago and a nearly 9% draw down in price. Coupled with divergence on the oscillators, the more probable result from strictly looking at this TA would be a short term trend reversal to the...

wuliwong

We see regular bullish divergence on the MACD developing on the BTC daily chart between this current low and the previous low. The day isn't done yet though, if BTC dumps and turns negative, this argument would be invalid as the new low was still forming. This could signal a turn around to an uptrend. I would like to see some other variables pointing at this...

wuliwong

A significant bearish breakdown of the parallel channel/bear flag has begun. The triple bearish divergence and decreasing volume is now playing out. As usual, we need patience to see what the follow through price action looks like. Will we see a backtest of the channel as resistance or do we break back into the channel and continue the short term uptrend? I think...

wuliwong

We are watching for the follow through price action after BTC has broken down out of a rising wedge formation. Will BTC just leg down to the bottom of the channel or will we see a backtest of the wedge as resistance. There is also the possibility it is a false breakout and BTC re-enters the rising wedge. There's bears in these here woods!

wuliwong

It isn't following a perfect trend line but the volume during this channel (read bear flag) has been decreasing. More bearish signals coming from BTC.