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Ascending Broadening Wedge

Bitcoin the revolution! How many satoshi do you have? Hold ITHow fast does travel travel today? The speed of light? How fast do the Internet memes get around? minutes, hours, days, weeks? Not long at all. How long does it take to viral YouTube video to spread around the world? No time at all. How long does it take for a black swan to sweep through an already shaky financial system? Does 2008 come to mind? Now that the US Congress has exposed Libra as a "Shitcoin" and Bitcoin as the "Real Deal" how long before more People, Corporations, Towns, Cities, States and Governments Not long in my opinion and I believe it will only accelerate once it starts. Perhaps it started today. If you evenly divide all of the 21 Million Bitcoins that can be mined among the current world population we are only talking about 0.00300000 Bitcoin each. About 300 thousand Satoshi max. And that is ONLY if they are evenly distributed to every human on earth. We know they will not because all of the alive 20 years from now do not even exist today. Think about that for a minute. There will be people in the future who can only own Satoshi by working for them. They can not just buy them up today like you can. So again I say that $ 1K in 30 minutes is nothing. When the real feeding frenzy starts we may be talking $ 5K, $ 10K, $ 20K, or more overnight. You do not think so? The people in Venezuela probably did not think so either. Or those in Zimbabwe when their money failed. It is the fate of every fiat currency ever printed. Devalue, hyper-inflate, disappear. Rinse and repeat. So what happens to real money when the fake money fails? It goes to the moon. The real bag holders, in my opinion, are not the ones left holding Satoshi when the music stops but rather holding those of their wealth in one of many other fiat currencies around the world. Our money should NOT be based on our ability to work our asses off for 40+ years so we can pay taxes on all the debts our governments rack up in our name and then die broke. It should not be that way. And I will tell you this as you are reading this post, it is not going to happen to me if I have anything at all to say about it! I refuse to be a slave of the State. The sooner I can break the better! And it starts with having an independent supply of real money that is not based on their wasteful spending and other political bullshit !!! I do not mind paying my share for public services, but limitless printing and spending of the fiat on my behalf has got to stop. If there were in the fiat currencies in this world there would be no wars because governments would actually have to ask the people if they want to fight each other and pay for it along the way. Their answer would be a NO resounding! I keep asking myself A BULL Flag? What is the primary trend? Follow the trend. Is she your friend. The famous HUNTING TOP - HUNTING BACKGROUND - He had not survived. Patience is the KEY of SUCCESS. In trading, in life, in EVERYTHING God is with you every day. Enjoy the highest value of all> THE LIFE! Live the life FREEDOM LIVE NAKAMOTO NEXT TARGET 15k God ABOVE EVERYTHING and EVERYONE! **And that, ladies and gentlemen, is my dose of hopium and fomo for the day! You get my point. Stack those Sats while the sun is still shinning on you.
BITSTAMP:BTCUSDLong
by ferGOD
2
Bitcoin - Ascending Broadening WedgeBullish case from here is that this whole move is an ascending broadening wedge which we have seen on micro levels through this whole move. F & the textbook AB=CD is an imediate short term target if Bitcoin is bullish we would expect to find support around the 0.382% fibo level. which is also the diagnonal support. A target for ths move higher will be towards ATH. Bearish case would be "F" failing to hold and an accellerated selloff, or a test of "f" reattempt at $10k previous support which would be rejected. I Would expect to potentially see a correction to 61.8% where we have the final CME Gap to be filled. Plan immediate 1. Remain hedge into F region and go to flat 2. if we fing support at $10k and break above and close above C the i will close hedges and start looking to be leveranging long again. 3. F/D fails to hold the i re-hedge - need to see strength of the dump beforre shorting God above all
BITSTAMP:BTCUSD
by ferGOD
Bitcoin and Parabolas This pattern is not even close to being complete, and there is major upside potential as bears have shown extreme weakness at halting this move. The parabolic pattern: This is most likely a parabolic pattern and there have only been 3 bases to this parabolic move, this means that there is still a high probability that the price can at least double from the price given at the 3rd consolidation. The price of the 3rd consolidation is 7.5 which can be seen in green, thus, it is highly probable that the price objective is estimated to be approximately 15k, if the price triples, I'd expect to see a move to 21k, however, it is important to note that most parabolic moves end with at least a 60 percent retracement of price, this means that if price does move to 15-21k, a drop to 7k should not be out of the question (resembled in the white arrow), however, I suspect any price below 6k would mostly be untouched. The price range of the move can be seen in the light blue box, however, it is also important to note that this is only a conservative estimate of the price objective, we could see prices well beyond this before a decent retracement , in some of my other analysis, it would be close to 80k, but that is a distance away and seems highly unlikely so I wont be posting it. If there is popular demand to see that analysis, I could post it, but take it with a grain of salt. The as for the broadening wedge, the current price is just under the price objective, where the price currently sits at 10900, the price objective is approximately 12k. I expect to see a small consolidation around 10-14k, and a possible continuation of the price movement. No indicators are necessary until there is a strong signal against the trend with confirmation by price and volume. In situations like these use of them should be weary because they may provide signals that are only indicative of a small reversal as opposed to a large one. This can be proven repetitively. Previous Analysis:
COINBASE:BTCUSD
by CuddlyCuddles
2
Bitcoin: Party Delayed? 2 Signs Of Vulnerability Now Present.Bitcoin is nearing the 9K resistance while the crowd is celebrating a little too early for a 10K target. The average retail sentiment went from predominantly bearish (everyone calling for 4500) to bullish (everyone is calling for 10K or higher) in just a couple of weeks. Are you new to investing in Bitcoin? Perhaps you got sucked in from all the nonsensical hype that is so prevalent in this space. I would first like to welcome you to the madness of the crowds and second, provide a helpful suggestion: step aside. Buying now means you are buying at retail prices, which means the risk is very high while the profit potential is comparatively low. These are levels where smart money locks in profits while the crowd happily takes the inventory off their hands while assuming much greater risk. How do we know this? No, it wasn't on a news site, or on some other internet analyst blog, it is clearly unfolding on the chart. Following price action has great value when it comes to short term market timing because it involves interpreting the "actions" of the crowd, NOT what they say or write. And at the moment price action has been unfolding in a way that says the crowd has bought, leaving price in a vulnerable position to retrace back toward the low 7Ks. Where is this visible on the chart? There are two very prominent clues: Bitcoin, along with many of the alts are exhibiting 5 Wave impulse structures. In Elliott Wave, once 5 waves complete, the chances of a corrective move of the same magnitude increase. That does not mean price will correct in an instant, BUT probability favors a broader retrace now much more than it did just a week or two ago. The second clue is the ascending wedge formation that has appeared during the attempt to push the 9K resistance. These price patterns are rare on larger time frames, and often appear during the 5th wave of an impulse. For us it is a huge red flag and cannot be ignored. That coupled with the fact that the majority of the internet analysts are bullish all point to a greater likelihood of a pullback, and not a move to 10K or beyond just yet. Keep in mind, this is a general probability. Price may very well push to 9K or slightly higher before the broader correction unfolds. We don't make the mistake of "predicting" how Bitcoin will unfold over the next week or two, and instead observe and weigh probabilities. There is no guarantee that the ascending wedge will assert itself, BUT since it is there, we will respect it and adjust our strategies accordingly. Over a year we managed to navigate the Bitcoin bear market effectively and patiently adjusted our portfolio which went from a -60% at the low to +5% as of this writing. The majority will not be impressed with such a performance because it's not 600% return on a leveraged $100 account. I share this not to impress anyone, but instead to reveal a glimpse of "reality" which most are not accustomed to in this space. In summary, Bitcoin and many of the alts have shown impressive moves over the recent two months and with it returns the circus of hype and nonsense that this market has become known for. When the untrained eye feels that it is "safe" to invest now, that is a clear warning that it is NOT. I am not bearish on Bitcoin, and I would certainly NOT short this market, BUT I will refrain from buying in areas where the crowd is jumping all in. Bitcoin may touch 9K or even 10K, but the risk of retrace is too high in my opinion. Our objective from here is to WAIT for a support level such as the low 7Ks or even lower before considering any new swing trade ideas or inventory purchases.
COINBASE:BTCUSD
by MarcPMarkets
45
BITCOIN About to GO BERSERK With An EXTENDED 5TH WAVE! MUST SEE Dear Friends! Or? No matter what this one is a pretty easy! D4rkEnergY will guide you - he cares about you. His mission is to MAKE YOU RICH! We here have an ascending wedge, which normally would mean, we would go down. And it is definitely as possibility! But wait - Because Bitcoin might have a different hidden plan. It has escaped the down line, and take a close look - Bitcoin might go berserk and make a 5th Wave Extension! So 2 Scenarios: - BERSERK-version which up via my Elliott Waves (You can make a LONG position with a stop loss below the wedge. - BORING-VERSION if the other option should fail, you can almost be sure we will go down, and you place buy orders at my pink box. Hereafter we will go up! You are welcome! Number 1 D4
BITMEX:BTCUSD.P
by D4rkEnergY
14
ES1!: Watch for the breakdownWith the ES1! trading around the 2,750 region, it is time to revisit and look for another set up. This time round we are looking at an ascending wedge formation with the apex coinciding with the 200-days moving average. Ascending wedges are by definition a bearish pattern while the 200-dma happens to coincide with a congestion zone between Nov to Dec. I know there is some hate in relation to moving averages but I personally feel there is some information value especially when taken in context with other forms of support/resistance. Since I called for taking money off the table around the 2640's region, the ES1! has rocketed up another 100pts on diminishing odds of rate hikes, a second US government shutdown and higher Chinese tariffs. So what will be the bogey man this time round? I don't really know, but the whole backdrop of slower growth in the absence of tax cuts and global trade tensions just suggest buying at these levels appears to be misguided, especially with a debt refinancing wall round the corner. It is too simple to use traditional PE and PB ratios which would suggest valuations are cheap; These indicators are not adjusted for rates nor debt. Once adjusted, valuations remain elevated near the +1 standard deviation levels. My preferred stance would be to position for a risk-off trade with an initial ABCD target of 2260.
CME_MINI:ES1!Short
by WellTrainedMonkey
A Perfect Wedge Forming! Have a Looksy and Trade WiselyLINKBTC is in a great trading position with the right stop loss set. As I have said in previous ideas, the direction of a breakout in a crypto wedge is hard to call. As we all know, crypto doesn't really follow market rules. With that said, my technique has been to buy in at a low resistance bounce when the wedge is starting to close in and then set a tight stop loss, like shown in my chart. Either way I will get a 10% gain in either BTC or LINK. At the target zone LINK will have a resistance bounce for a great cashout! Happy Trading!
by djupgrade
SHORTING OPPORTUNITY ON USDCADPrice action has formed an ascending wedge pattern on the 4hr chart and an inverse Head and Shoulders Pattern on the 30min/1 hr chart of the USD/CAD. Dailly chart shows price is between the 38.2 and 23.6 fibo levels. Thus, the possibility of price resisting this level is high. However, price might still retest the 50-60 fibo levels. In my case, I would wait for a retest of the upper levels of the ascending wedge-seeing as price bounced off the neckline of the H/S pattern-or a close below the neckline before shorting and aiming for the lower levels of the daily ascending channel. Happy trading this new week!
Short
by ifeanyi99
AMZN showing bearish signs. Might have one bullish move left.AMZN is currently sitting on pretty critical support zone that it has held since the double top rejection that occurred in early October. On the RSI, we can see it is forming an broadening ascending wedge pattern which is more often then not a bearish pattern that ends up breaking down. However, we might get one more retest of the top of the ascending broadening wedge pattern on the RSI, which could indicate another upwards move on the price action to the light-blue line as shown in the chart for an approximately 20% gain. We have a lot of overhead confluence and resistance from the 10/20/50/100/200 moving averages, and from previous support zones which are now acting as resistance. Again, it does NOT have to break-up one more time, and this broadening ascending wedge pattern could easily fall through this support zone when the market opens; I'm just stating it COULD have one more test of that 1775 level. Overall, AMZN looks bearish to me. Moving average guide (daily chart): 10 MA in Orange 20 MA in Pink 50 MA in Green 100 MA in Yellow 200 MA in Red Area of interest IF the price breaks up one more time: 1760-1780 Area of interest IF the price breaks down: 1350 (previous support zone and near the 100 weekly moving average.) Link to learn about ascending broadening wedges (not my link or article, full credit goes to the site/author): education.howthemarketworks.com
NASDAQ:AMZN
by Deftsuo