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SPY Another Wedge pattern!? SPY loves to follow wedge patterns and it looks like its trading inside a BROADENING WEDGE pattern. Another drop to 412-413 area could be seen soon. A break of the bottom trendline of the wedge could result in big downward moves, filling the large gaps it made on the way up. If the bottom trendline holds, we could see another ATH. As a beginner, I'm still learning the ins and outs of recognizing patterns and trading them, but I'm always open to criticism and other ideas. What do you guys think about my analysis? Leave a comment below!
AMEX:SPYShort
by Lilbuddadude
$BNTX Ascending Triangle breakout in next 3 days?BNTX has formed an Ascending Triangle indicating breakout in next three days for run to earnings. I've taken some good profits on this since the last earnings, got in at 102, so may be a bit biased. On the other side - this has been a LONG bull run and is clearly overbought already. The ascending triangle would seem to indicate it's got some more bullish energy left though. China is on the verge of approving it in the news... Also in the news watch out if the White House issues an intellectual property waiver on vaccines . This most certainly could have a dramatic effect on the price action.
NASDAQ:BNTXLong
by Thundershadow
CRV Ascending Triangle OppurtunityIf CRV manages to show support on the trend line thinks could be looking very bullish for CRV. - On the daily MACD you can see that we are very close to a bearish cross and are set up for a pullback - RSI shows us a bullish divergence, this means less overbought at the same prices - The trendline support area is set up between the 0.5 and 0.618 of the fib which is known as a good area for a bounce (cant see this very well on this chart) If the ascending triangle would break out to the upside there would be a very big resistance around 4.4 based on 2 strong fibonacci retracements Price targets: For me there are 2 main price targets: 20% at 3.41 if the trend line gets respected and bullish momentum shows 36% at 4.428 if the ascending triangle breaks out NOTICE: These price targets are at exact levels and I would recommend taking profits mildly lower.
Long
by wassim010
BATUSDT is testing the lower trendline 🦐The price is creating an ascending channel and the price tested the lower trendline on 0.382 Fibonacci level. IF the price will hold the channel we could see another breakout, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
3
btc is either breaking out of the ascending triangle or. . .btc is either breaking out of the ascending triangle or just going up to test the top trendline of the potential rising wedge we are in. Of course it could also be doing both...even though the breakout target of the ascending triangle is in the 72ks we could wait to reach that zone until where the top trendline of the rising wedge converges with the grey horizontal hyphenated line. This would be a slow grind up and take a lot of people off guard if it did cause a strong rejection from the top trendline of the rising wedge after mosts only saw the ascending triangle. However this ascending triangle is actually part of a larger pennant so probability favors that we do break above the top trendline of this wedge. We won't know for sure until price action tests it a few times I'm guessing. for now probabilities lean toward the bullish outcome after all the trend is your friend until the end. *Not financial advice* :
COINBASE:BTCUSDLong
by DrDovetail
BTC Breakout .. Is it North or South?Quick update but looks like on the 4 hour we are running out of runway inside this ascending triangle. Stoch RSI looks healthy, VFI crossing over bullish, we might see a breakout North here. I think thats the most likely scenario but there is heavy, heavy resistance at 60k and a rejection here would see us retesting support at ~56k and possibly 53k. I could see bears trying to force it lower to 50k but suspect they won't have the volume to make that move, if it comes to it. That said, my favored course of action here is for a breakout North, and since I'm out for the day I'm going to have a big surprise tonight when I get back.. best of luck traders.
COINBASE:BTCUSDLong
by 1BigPapi