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The Triangle Of The Year => BTC 🏆Hello TradingView Family / Fellow Traders, 🏹 After a 50% surge from 25,000 to 38,000 , BTC has entered a consolidation phase within the confines of a symmetrical triangle, as highlighted in orange. This development holds significant importance as it aligns closely with a yearly resistance zone between 38,000 and 40,000. The resolution of this pattern will likely dictate market sentiment for the remainder of the year. 📈 Should the triangle break to the upside, confirmed by a daily candle closing above 38,000, we anticipate a bullish continuation targeting the resistance range up to 40,000. 📉 Conversely, a downward break of the triangle, confirmed by a daily candle closing below 35,600, would signify bearish momentum, potentially leading to a substantial correction towards the 30,000 - 32,000 support and demand zone. For now, we wait! ⏱ Which scenario do you think is more likely to happen? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
26
🔥 Bitcoin Reversing Again: Watch For Chop!BTC made a new yearly high 2 days ago, but has yet again failed to keep the gains (for now). The 38.000$ area is a very strongly defended area by the bears, which has resulted in an extremely choppy market for nearly a month at this point. Longer-term oscillators like the RSI and Stochastic are still oversold, so it might be that the bulls are just waiting for these indicators to cool off. However, we have to consider the idea that the bulls can potentially lose the short-term fight and give up after yet another 38k rejection. Share your thoughts in the comments 🙏 Key area is the bottom dotted support area. As long as the bulls can defend this area, there's nothing to worry about. However, if the bears manage to get a daily close below this important support it might signal that there's more pain to come. Worst case bullish scenario would be a retest of the bottom support. On the other hand, the previous 3 times that we touched 38k the sell-off was much stronger and took us down more. This sell-of has thus far only been a couple of percent in 2 days. I still hold the idea that 40k will be reached this year, but the loss of the bottom support will likely change that.
Long
by FieryTrading
37
🔥 Ethereum MASSIVE Bullish Triangle Nearly Broke Out 🚨As seen on the chart, ETH has been trading inside a bullish triangle pattern for over 1.5 years. In my eyes, a break out from this pattern might result in big gains for ETH, since it will burst through an area full of short-trade stop-losses which will be forced to buy back their positions. Consequentially, a break out will trigger a long-term trade that I've been looking at for some time. With a stop below the recent swing low and a target around the current ATH, we can construct a very decent long-term trade for this big token.
KRAKEN:ETHUSDLong
by FieryTrading
5
Harmonic Patterns in Trading: A simple introductionIntroduction In the world of trading, we often hear about harmonic patterns. These are very special tools in the trader's toolkit. They are complex but very important. In this article, we look into these patterns, how traders use them, and why they are crucial. Understanding Harmonic Patterns Harmonic patterns are part of technical analysis in trading. They come from Fibonacci numbers and show potential future price movements. These patterns are not random; they are specific geometric shapes in the markets. Some well-known patterns are Gartley, Bat, Butterfly, Crab, and Shark. Each pattern is unique and uses Fibonacci in a different way. Top Harmonic Patterns Gartley Pattern: This is a very famous pattern. It looks like an 'M' or 'W' shape. It helps traders to find good points for buying or selling. Bat Pattern: This pattern is similar to Gartley but with different Fibonacci measurements. It's known for its high accuracy in predicting market reversals. Butterfly Pattern: This pattern indicates a strong reversal. It's like Gartley and Bat but has a longer 'wing'. Crab Pattern: Known for its extreme accuracy, the Crab pattern offers precise entry and exit points. Shark Pattern: This is a newer pattern. It helps to identify very sharp and sudden changes in the market. Fibonacci and Markets: A Symbiotic Relationship Fibonacci sequence is a series of numbers important in many areas, including markets. Traders use these numbers to predict where the market might go. Importance of Harmonic Patterns in Trading Predicting Markets: These patterns help traders to guess future market movements, unlike other tools that only analyze past data. Strategic Trading: They offer clear points for entering and exiting trades, which helps in planning. Versatility: Useful in various markets like forex, stocks, and cryptocurrencies. Risk Management: They provide structured ways to manage trading risks. Complementing Strategies: Harmonic patterns can be combined with other market analysis methods for stronger trading strategies. Learning Curve Understanding harmonic patterns requires time and market knowledge. But they offer a clear insight into market behavior, which is very valuable for traders. Challenges Using harmonic patterns can be tricky. They need correct identification, and market volatility can sometimes affect their accuracy. So, traders need to be adaptable. Conclusion Harmonic patterns are a mix of mathematics and market understanding. They use Fibonacci to interpret market movements. For traders willing to learn, they offer deeper market insights. In trading, understanding these patterns can be a great advantage.
Education
by GreenCryptoTrades
#XRP : Targeting 1$ in the Near Future. Expecting at least 35%.XRP have been in a good position and a healthy market phase compared to the overall crypto market. For now we can witness that a beautiful cup & handle pattern already formed and is finishing its current phase preparing for a breakout. If things keep the same as it is, there will be a high probability to see Ripple making some good North side moves. Besides the formation of the pattern: -- We can witness a bullish divergence with the RSI and MACD. - Stochastic showing an oversold behavior and seems sellers are being knocked out as we speak. - MACD and RSI are still showing an uptrend momentum and that there is a space for growth in the near future. - The handle on the 1D chart is already forming a bullish falling wedge on lower time frames and a break out will confluence the 1D chart. - Ichimoku Cloud is providing a good support at current price level. - Next strong resistance area will be in between $0.71 - $0.73 and these areas will be much more interesting to follow. - If the neckline can be broken at any point of time we sure can wait for a successful retest and that will be our entry for a confirmed move towards the $1 price tag. - Will be updating about the fundamentals soon too and a closer watch to this formation for sure will repay the patience. - Stop loss will be considered to be at the price level where a failure of the retest occur. By this depeding on ones trading strategy putting the stop anywhere below the neckline will be a wise move. Keep spreading the knowledge and +ve energy. Let you be peace in every single steps of your life. Stay tuned for more. @ cryptotalket
Long
by cryptotalk_et
🔥 Bitcoin Bullish Triangle: Preparing For Next Leg Up!BTC has been consolidating for nearly a month now. Not a lot of of trading in one direction, but short-term trends being reversed quickly. Note that the price has consistently making higher-lows, whicb is a sign of strength. On the other hand, the 38.000$ area is getting notorious. Every time that the price reaches the top resistance area, a quick sell-off follows. Since this bullish triangle is classically a bullish break out pattern, odds are that we're going to break out sooner or later. My assumption is that the longer-term indicators, like the weeky RSI, needed some cooling down and that the bullish trend will continue once indicators have cooled. The next leg up will likely bring us to 40.000$, if not higher. Keep a close eye for a higher time-frame candle to close above the top resistance of the triangle.
Long
by FieryTrading
4
Xau/Usd (Gold)Hello traders! The xau/usd (gold) pair is in a triangle pattern. In my opinion, there are two scenarios. Scenario number 1: The pair should test the level of 1975.00 and then take a buy move at the level of 1992.0 and continue a buy move towards the level of 2009.33. Scenario number 2: The pair should test the level of 1975.00 and then take a buy move at the level 1992.0 without breaking the line to go to the level of 1941.00. Wait to enter the trade! Be careful! Don`t forget to look at the economic calendar! MAKE MONEY AND ENJOY LIFE 💰 THANK YOU! GOOD LUCK! 🙏🏻🙏🏻🙏🏻
FX:XAUUSD
by THP-Forex-Academy
2
🔥 Weekend Technical Analysis Fiesta🎉- Name Your Crypto!Another month has passed and a lot of things have happened. Time for another Crypto Fiesta! 🎉 Short-term view Bitcoin is still looking like it wants to go up, but we have to acknowledge the inability of BTC to break through the 38.000$ resistance area. Most likely is that the daily/weekly RSI wants to cool down a little bit before the next leg up. On the other hand, the bullish channel is still intact. As long as we're above the channel's support, no worries for the bulls. 🎉CRYPTO FIESTA🎉 Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend! Give this analysis a like if you enjoy the content🙏
Long
by FieryTrading
119
🔥 TRB First Oversold Bounce In 2 MonthsTRB has been one of the biggest winners of the last two months, doing a 14x whilst most other crypto's only did a 2x-3x. It was a matter of time before TRB corrected. Patient bulls like myself have been waiting for this opportunity. Since TRB hit oversold levels on the 4H chart for the first time since late September, this might be the perfect time for bulls to step in for a swing-trade position. Stop below the recent swing-low, target at 230$.
Long
by FieryTrading
12
🔥 Altcoin's Highest Value Since Summer 2022: Mini Altseason!The total marketcap of altcoins, TOTAL3, has reached the highest value since August of 2022. In my view, this clear breakout marks the end of the bear-market accumulation phase and is the start of the next bull-cycle. Like mentioned in my other analyses, the fact that the lows are in doesn't mean we will go up in a straight line. Most likely it's going to be a bumpy road towards the summer of next year, with the 'real' bull-market starting and the end of 2024 or start of 2025. For now, I think that alts will see more growth. The yellow resistance is the most logical area in the short-term. Over the next few months, the blue resistance should be possible. Keep in mind that BTC has to trade relatively stable during this time. With the Bitcoin dominance (above) in a clearly bullish trend, it's likely that alts will underperform BTC on average. Once BTC.D breaks down through the yellow line we can experience a 'mini altseason' where alts will outperform.
CRYPTOCAP:TOTAL3Long
by FieryTrading
9