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Bearish Trend Line

EURUSD - The downtrend is at the end! Elliott Wave + Channel The EURUSD is successfully holding the 1.0 USD level. This is indeed a significant psychological level, and we haven't seen any weekly or monthly candles that closed below this level.  On the RSI indicator, we have a bullish divergence on this daily chart, and we also have another triple bullish divergence on the weekly chart as well! So, if you like divergences, this is definitely your cup of tea.  As per my Elliott Wave analysis, this huge downtrend should be over (or 1 last wave to the downside), and that's why I expect a corrective move to the upside (ABC correction). Let's see how big this upcoming retracement is going to be.  On the daily chart, we can spot a beautiful descending parallel channel, and if you prefer to wait for confirmation of my bias, then you can wait for the channel to breakout.  As you can see on the chart, we had 2 fakeouts during this downtrend, which indicated a corrective move. Usually, the third breakout is real!  The profit target is at 0.618 FIB + the start of wave 4. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
38
Ripple XRP - Market overview + Elliott Wave analysis XRP is a very weak coin this year, and this trend will probably continue for another year. I'll tell you why.  During the bull market in 2020–2021, XRP failed to print an impulsive wave and also failed to make a new all-time high. Instead of an impulsive structure, we have an ABC correction. This tells us that the bulls are not strong enough yet to push the price higher and that the bears remain in full control. I think XRP will experience a massive uptrend on the weekly chart, but we still need to be patient and wait for the opportunity that should come later in 2023–2024.  As per my Elliott Wave analysis, this bearish structure is absolutely incomplete, and that's why I expect another down-trend. The chart printed a symmetrical triangle on the weekly chart that broke down. Symmetrical triangles on weekly timeframes are especially powerful, and it usually requires more time for the bulls to regain strength again. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more analysis, please hit "Like" and "Follow"!
by UnknownUnicorn2537518
29
Structural Progress Remains Elusive for BTCUSDPrimary Chart: Showing Major Retracement Levels for BTCUSD's Entire Bear-Market Decline with Accompanying Down Trendline Since November 2021 to early January 2022, equities and cryptocurrencies have experienced a bear market. The selloff has been more pronounced in crypto assets than in equities generally, although certain segments of equity markets have paralleled (in percentage terms) the massive declines seen in crypto. BTCUSD Has Not Reached Key Fibonacci Retracements Like Equity Indices Have The Primary Chart at the top of this article shows the major retracement levels for BTC's entire bear-market decline. Note how BTC's 43% rally from June 2022 lows has still not meaningfully approached its .382 retracement level of its entire bear-market decline. By inference, if BTC hasn't been able to approach its lowest .382 retracement level, it has come nowhere near its .50 or .618 retracement levels, labeled on the Primary Chart above. Supplementary Chart A below shows an example of one of the world's leading equity indices, the US S&P 500, having reached and even surpassed critical retracement levels in the powerful rally off June 2022 lows. Whether this rally is a bear rally or an actual trend reversal is hotly debated in the financial media, but the outcome remains uncertain despite confident forecasts in both directions. More importantly, note how the S&P 500 ( SP:SPX ) has exceeded both its .382 retracement and its .50 retracement of its bear-market decline. In fact, it is approaching its .618 retracement of its YTD decline. When price closes in on a key level of multi-month importance, it often will find a way to touch that level given the magnetic effect it has. Supplementary Chart A: Two Key Fibonacci Retracement Levels for the YTD Decline in S&P 500 ( OANDA:SPX500USD ) Key Levels in Proximity to BTCUSD's Current Price As shown in Supplementary Chart B, BTC has remained in a parallel channel off the June 17, 2022 lows. Some might argue this technically works as a bear flag pattern—confirmation would be a downward breakout that holds below the upward trendline forming the base of the channel. In any event, this channel has contained price since mid-June 2022 lows. The return line (top line of the channel) lies near $25,700 to $26,282. This should prove to be strong resistance in the coming week. The lower line ranges from about $22,200 to $23,100, which should prove to be support—and given that the downtrend line remains intact, this should also be watched for a break. The .382 retracement of the second leg of this bear market lies at $29,297. If BTC can break above its downward trendline —indeed, this would be a feat should it occur—the .382 should then also be watched to determine how price responds. This should serve as decent resistance at least on any initial attempt to push above it. but traders and market watchers should remain open-minded and flexible to see whether BTC could break above this level as equity indices have done. With FOMC minutes being published Wednesday Supplementary Chart B: BTCUSD's Down Trendline and Fibonacci Retracements for the Second Leg of This Bear-Market Decline Starting at March 28, 2022, Swing Highs Ichimoku Cloud Remains Bearish with a Hint of a Change The Ichimoku Cloud can sometimes offer an additional perspective. The cloud remains bearish—red and downward sloping. (The mechanics of the cloud's color changes are beyond the scope of this article.) The could twists and turns green, however, in late August 2022 / early September 2022. Such cloud formations can suggest the potential for a shift in trend—but no guarantee. Currently, price is meeting powerful resistance along the upper edge of the cloud's SSB (Senkou Span B) line. See Supplementary Chart C (below). This line works as resistance from about $24,700 to $25,000. This SSB line represents the mid-point of a 52-day period on the daily chart. Several candles have touched, briefly pierced, and then failed back below this key level. This shows that the level is holding a strong resistance for now. Supplementary Chart C: BTCUSD's Ichimoku Cloud Chart on the Daily Time Frame The weekly Ichimoku Chart remains more bearish in appearance. The cloud remains thick and red with no trace of a bullish twist in the future that could imply a possibility for clear skies ahead for BTC. The weekly chart also shows price significantly below the cloud, and even well below the Kijun line (blue), while having risen above the Tenkan line (gold). See Supplementary Chart D (below). Supplementary Chart D: BTCUSD's Ichimoku Cloud Chart on the Weekly Time Frame The author has no open position at the time of publication (August 17, 2022) on BTCUSD or BTC-related investment products such as BTC futures, BTC ETFs (BITO) or BTC derivatives. This article is intended to present a relatively unbiased technical analysis of BTC's DISCLAIMER: This post is published solely for educational / entertainment purposes and does not constitute financial advice or an investment recommendation and cannot account for any person's particular financial circumstances. The author would not want other investors / traders to lose money by relying *solely* on this idea rather than doing their own due diligence. Before entering any trade, please evaluate the risks of (i) the instrument / security being traded, (ii) the type of trade and its timeframe, (iii) risks inherent in that type of trade and its time frame, (iv) the inherent risks of shorting securities (presenting unlimited risk without hard stops in place), (v) the inherent risks of trading options, leveraged ETFs, and cryptocurrencies, and (vi) all financial risks arising each person's personal financial circumstances. CME:BTC1! BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSDT FTX:BITOUSD SP:SPX OANDA:SPX500USD VANTAGE:SP500
BITSTAMP:BTCUSD
by SquishTrade
4
Bitcoin - Last valid bullish EW count was invalidated, what now? I studied this market structure for several hours, and my conclusion is that there is no valid Elliott Wave bullish count. Simply, a valid Elliott Wave count does not exist. Is this a problem?  From the Elliott Wave perspective, there are 2 possible options: 1) If we want to stay bullish, we have to accept the fact that a third impulsive wave can sometimes be a diagonal, not only an impulse. which I think could be true.  2) This was a huge WXYXZ corrective structure and we must go below 17622 USDT to confirm this count, make a new low, kindly by a wick, and then we can start a brand new uptrend or continue lower to 13-15k.  Which one of these options do you see? Let me know in the comment section what you think about it!  This technical analysis shows an impulsive wave with a non-standard diagonal third wave. We still have a total of 9 waves, which indicates a bullish movement as per the simple rule that 5, 9, 13, 17,... waves are generally impulsive structures.  Market structures are not perfect. Sometimes you can see a weird triangle or a weird wedge, as well as a weird impulsive wave. I don't trade Bitcoin, because my strategy and system is a strict pattern that occurs only sometimes in the market. That's why I watch 1000+ altcoins and pick only the most promising ones as per my strategy. But I do have Bitcoin for the longterm hodl.  For more ideas, please hit "Like" and "Follow"!
by UnknownUnicorn2537518
75
MDX - Prepare for a massive breakout! + Huge parallel channel MDX is forming a well respected descending channel on the daily/weekly chart and we are very close to a breakout! Regarding my Elliott Wave analysis, this massive impulse wave has been completed and that's why we can expect an ABC correction to the upside. Also we have a local rectangle consolidation, which is always very good to see at the end of the downtrend for a potential breakout trade. The first profit target is at the strong resistance - wave (4) + double TOP, but i think we can go even higher later. I think MDX is a great choice together with KP3R! I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
MLong
by UnknownUnicorn2537518
47
BTC.D - The Alt Season just started! + Elliott Wave The 14-month consolidation period has ended; it was truly an endless period of price action, but nothing lasts forever! ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend. According to my Elliott Wave analysis, we are now in the 3rd wave and this could be huge! Bitcoin Lightning network is still not supported by major exchanges because it is not in their business plan, and this is definitely a positive sign for altcoins. What to do during the alt season? It's good to pick promising altcoins, which is not an easy task, but even very bad coins can easily pump. Look at my ideas about interesting altcoins in the related section down below. For more ideas, please hit "Like" and "Follow"!
CRYPTOCAP:BTC.D
by UnknownUnicorn2537518
52
TA 2022-08-04: ETH/USDT1. There is a major bearish trend line forming with resistance near $1,660 on the hourly chart of ETH/USDT 2. If Ethereum fails to rise above the $1,670 resistance, it could start another decline. 3. An initial support on the downside is near the $1,620 zone. 4. The next major support is near $1,560, below which there is a risk of a sharp decline. 5. In the stated case, ether price may perhaps decline towards the $1,505 support in the near term. 6. Any more losses might call for a test of the $1,450 level.
BINANCE:ETHUSD.PShort
by yaser_rahmati
FileCoin FIL - Ready for a bullish action! + Elliott Wave + Base For a confirmation trade, buy a breakout above 6.41 USDT, which I strongly advise you to do here! As per my Elliott Wave analysis, the huge impulse wave has been finished successfully and now we are ready for a bullish retracement. As you can see on the chart, we have a local base (rectangle pattern) and this is something i like to see! The last trendline of the last impulse wave has been destroyed by the bulls, so another great sign. The profit target for this trade is 6.5 USDT, which is totally doable, but in the long term, I think we can go even higher. Look at my ideas about interesting altcoins in the related section down below. I expect tremendous pumps for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
36
EURUSD - The downtrend is over! New bull market + Elliott Wave EURUSD successfully maintained the 1.0 USD level.This is a significant psychological level! As per my Elliott Wave analysis, this huge downtrend should be over, and now I expect a corrective move to the upside. An impulse Elliott Wave has been successfully completed. Let's see how big this correction is going to be. On the daily chart, we can spot a beautiful descending parallel channel, and I think the bulls can step in to destroy this pattern! As you can see on the chart, we had 2 fakeouts during this downtrend and this indicated a corrective move. Usually, the third breakout is real! The profit target is at 0.618 FIB + the start of wave 4. Look at my ideas about Gold, Bitcoin and Ethereum in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
54
Radicle RAD - Great opportunity! Bullish base + Elliott Wave We have a local bullish rectangle / base and if the bulls can break this level, then I expect a massive uptrend! Also, on the daily chart we can spot a huge descending channel / falling wedge and I think it's the right time for a breakout. An impulse Elliott Wave has finished, so I expect an ABC retracement. Profit taget 1 is on top of the trendline + wave (4). The second profit target is on the main resistance + wave (4) + 0.618 FIB. I expect tremendous pumps for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
58
Voyager VGX - Downtrend is over! Impulse completed + Record VOL VGX is currently number #1 bullish altcoin on Tradingview Binance USDT list. We have a record volume at the end of the downtrend, which is a significant event. As per my Elliott wave analysis, this huge Impulse wave should be completed successfully. Now i expect a retracement at least to 0.382 FIB + previous swing low (for conservative traders). You can wait for a breakout above the yellow trendline for safe entry. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
VLong
by UnknownUnicorn2537518
37
Fantom FTM - Time for the bullish action! Elliott Wave + 200 MA On the daily chart we have an impulse Elliott Wave that has been completed and because of that, I expect an ABC retracement to the upside! A very strong resistance is at 1.13 - 1.00 USDT, we have a great confluence in this zone as you can see on the chart. Confluence: start of the gap + end of the wave 1 + end of the second wave 1 + 0.618 FIB retracement + 200 daily MA + psychological level 1.00 USDT. Price is printing a local descending channel and if bulls can break through this channel, then we can definitely go higher! Overall structure on the daily chart is bearish and I recommend only a short term counter trade here. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
23
Synthetix SNX - Bullish head and shoulders! Elliott wave SNX is ready for an upcoming uptrend! On the daily / 3D chart we can spot a bullish inverse head and shoulders pattern that is very close to a breakout! The impulse Elliott wave (5-3-5-3-5) has been successfully completed and because of that I expect an ABC retracement of this bear trend to 0.618 FIB / end of the wave (4). You can set your profit target here, between 9.19 USDT to 8.02 USDT. We have a huge descending parallel channel and I think we can definitely break through this channel! I recommend only a short term trade here, because I think we need more time for this altcoin to gain strength again. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
COINBASE:SNXUSDLong
by UnknownUnicorn2537518
24
Bitcoin BTC - New bull market just started! Elliott Wave + Wedge The price is currently above 22 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders. I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD)! Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.382 FIB + ABC correction completed! The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend. As per my Elliott wave analysis - ABC correction (ZigZag 5-3-5) should be completed successfully and we can start a complete new impulse wave. Only Bitcoin is a safe bet for the longterm. It's the best store of value and altcoins are awesome for short-term to mid-term massive gains. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
TOTAL crypto cap - New bull market! Bull flag + Elliott wave We have a tremendous confluence to buy cryptocurrencies for a long term at this moment! It is a common thing to test the previous all time high (in this case from 2018) on the weekly chart. 200 moving average is considered as a strong support by huge instituions and hedge funds and bulls successfully defended this area! 0.382 FIB retracement is also a noticable support level on the LOG scale. As per my Elliott Wave analysis - ABC correction has been completed on the macro scale and now we are ready for another bull market! We have a falling wedge or a bullish flag - noticeable patterns on the weekly chart. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
CRYPTOCAP:TOTALLong
by UnknownUnicorn2537518
19
Shiba Inu - Head and Shoulders is breaking out! + Elliott Wave On the daily chart the price is printing an inverse head and shoulders that is currently breaking out! Also we have a huge descending parallel channel, so be careful, because there is always a possibility that we will be rejected at the top of the channel. As per my Elliott wave analysis - the ABC retracement should be completed (ZigZag 5-3-5) and now we should go up at least temporarily. Wave B is always a strong resistance + 0.618 FIB, place your profit target here. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
24
Marlin POND - Very bullish pattern! +150% in few days + Triangle This altcoins has an amazing trade setup for bulls! On the daily chart we can see an ascending triangle, the most bullish chart pattern and we are close to a breakout. As per my Elliott waves analysis, the impulse (5-3-5-3-5) has been completed, so we can expect an ABC retracement now. On the log scale the price is printing an descending channel and this is a nice profit target for our trade. This will be a quick trade that can take just a few days. You can buy a breakout above the triangle, If you want to increase the probability of success. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
30
PolkaDot DOT - On a massive weekly support! 0.618 FIB + Channel PolkaDot was a very strong altcoin in 2020-2021 as you can see on the historical chart and we can cleary spot an impulse wave here. The coin in 2022 fell to the strongest support (0.618 FIB + Wave 1 horizontal support + POC + ABC correction). If you like fundamentals of this coin, this is definitely a good time to buy, because we have a strong confluence. The missing part is the descending parallel channel, because the price is still inside the channel, but we have had a nice touch on the bottom. After an impulse wave - ABC correction is expected and in this case, the ABC correction has been sucessfullly completed with an ending diagonal pattern. If want to make a short term trade, you can place your profit target at the top of the channel, otherwise next stop is below previous all time high. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
17
Dominance BTC.D - ALT SEASON STARTING! + ABCDE Completed The 14-month long consolidation is over, it was truly an endless price action, but nothing last forever. ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend. According to my analysis of Elliott waves, we are now in the 3rd wave and this can be huge! Bitcoin Lightning network is still not supported by major exchanges, because it is not in their business plan and this is definitely a positive sign for altcoins. What to do during the alt season? It's good to pick promising altcoins, which is not an easy task, but even very bad coins can easily pump. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
CRYPTOCAP:BTC.DLong
by UnknownUnicorn2537518
18
Bitcoin BTC - Explosive breakout soon! + Elliott Wave + Channel IF you are an Elliott wave trader, you have to confirm that this is a valid EW count. As per my Elliott analysis, this impulse wave (5-3-5-3-5) has been completed successfully together with major ABC correction from 2021. On the daily chart we can spot 2 parallel channels and they are both close to a breakout, so with this confluence we can increase our probability! Next stop is major previous horizontal resistance + start of the gap + 0.618 FIB (around 36 500 USDT - 37 500 USDT). It is possible that we see this low price for the last time, because Bitcoin is very bullish asset and we are on a major support on the monthly scale (from 2017). Look at my idea about Bitcoin on the weekly timeframe in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
26
Binance BNB - Strong buy signal! + Elliott wave + Triangle Elliott wave analysis on BNB was really hard, but this is my outlook on the 4h / daily chart. Don't forget that BNB on the weekly / monthly scale is extremely bullish, so we should follow the main trend. We have a broadening wedge / descending channel, which are usually both bullish patterns. Also the price is printing a local ascending triangle in the end of the trend - good to see! Impulse Elliott wave for this huge downtrend should be completed and it is possible that we will never see this low price again. BNB is indeed one of the most bullish altcoin in crypto. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
27
Ripple XRP - Finally huge opportunity! + Elliott Wave + Channel XRP can finally make an uptrend, we have a local descending channel on the daily chart, which is very close to a breakout! As per my Elliott wave analysis, the ABC correction can be completed, so we there is a great chance for an uptrend. On the RSI indicator we can spot a bullish divergence with higher lows. We haven't retested the massive yellow triangle yet, so we can definitely do it in the immidiate short term. Your profit target can be end of the wave (1) + retest of the triangle + 200MA. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
5
TrueFi TRU - Downtrend is over, can pump hard! + Elliott Wave Due to my technical analysis, i think this downtrend can be over and we can expect a pump anytime soon! On the daily chart we have a broadening wedge and also a local ascending triangle, both bullish patterns. If we take a look at the RSI indicator - we can spot a bullish divergence, always great to see. As per my Elliott wave analysis, the massive impulse wave to the downside should be completed and because of that, I expect an ABC retracement. Main Profit target is 0.618 FIB + end of the wave 4 (High liquidity area). We can also get stopped by the descending blue trend line, but i think it will break up! Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
15