Rectangle Pattern Up Trend The price is constrained by support and resistance levels in the Rectangle pattern. This means observing the pattern on a chart, and traders need to look for a price between the two horizontal lines. The Rectangle marks several highs and lows. These highs and lows indicate a period of consolidation. Also, there is indecision in the...
We have a double bottom pattern on 8-hour chart which is a bullish pattern, Technical target of this pattern is $18,892. Let's see if this plays out.
BTC is developing bullish deep crab harmonic on a daily chart which will complete at $12,884 which is its PRZ(Potential Reversal Zone). Price will bounce back from this level to the upside. On a weekly chart we have another bullish deep crab harmonic developing which will complete at $3,752. Remember this is a weekly chart so it can take months to complete but...
BTC is moving inside a rising wedge (bearish pattern). Price needs to hold the ascending trendline level, upon breakdown technical target of the pattern is $19,096. Bullish shark is developing which will complete at rising wedge technical target or $18,826. Right now, we are at critical situation due to CZ planning to sell FTX tokens and many people building up...
We have a double bottom on BTC on daily chart which already broke out and currently trying to retest, if this plays out then technical target of this bullish pattern is $22,805. Another important thing to notice is that we hidden bearish divergence on RSI and MACD under development which will be confirmed at daily closure. Invalidation of this requires BTC to...
Descending Triangle Pattern The descending triangle is a bearish pattern that is characterized by a descending upper trendline and a flat lower trendline that acts as support. This pattern indicates that sellers are more aggressive than buyers as the price continues to make lower highs. The pattern completes itself when the price breaks out of the triangle in the...
Broadening Bottom Chart The Broadening Bottom chart contains a broadening pattern, in this case, a broadening bottom pattern because prices enter the pattern from above. There are three higher highs and four or five lower lows. Prices break below support and move downward enough to complete a profitable trade using either price target method.
Left Chart : We a have a bullish shark harmonic in process of developing which will complete at $17,870 level, Invalidation or stop-loss for this will be $17,032. If this level breaks down then we will possibly stop at $13k-$15k levels although I still feel we won't go down that further but anything can happen in crypto. Right Chart : Bullish shark harmonic...
BTC was unable to hold its major support of ascending broadening wedge and broke down. Next possible target is at demand zone of $19,274 whereas final technical target of broadening wedge is $17,737. A bullish shark harmonic is in process of developing which will complete at $18,929. Invalidation of that will be $17950. Avoid futures trading for some days,...
Bitcoin is moving inside a symmetrical triangle on a daily chart. Break down target is $18,950 and breakout target is $21,003 Price has been ranging between $19650 to $20400 for over 11 days now. This is considered as a boring market. People are mostly longing from support and shorting from resistance. We will soon see a move on either side because we have some...
Bullish Gartley harmonic has been identified on a 6 hour chart, Everything else is giving bearish signals except this. Lets see if this one plays out. RR on this is 1.91.
Inverse Head and Shoulders Chart Pattern Inverse head and shoulders is a trend reversal chart pattern and are the opposite of the Head and Shoulders one. Theoretically, the height of the two shoulders must be the same, and the neckline – be horizontal. However, the shoulders are often not of the same height, or the neckline ascends or descends. The price...
(Rising Wedge Pattern) The rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when the price is bound between two rising trend lines. It is considered a bearish chart formation that can indicate reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge...
Descending Broadening Wedge Descending broadening wedge is a type of wedge pattern. A wedge is a structure or pattern with one thick end and one thin end. In the case of descending broadening wedge, the starting point will be a narrow end, and the ending point will be a thick end because it shows the expansion of the price wave.
Falling Wedge Formation in 1H timeframe..!! In the case of an Upside Breakout, I am expecting a +10% Bullish Wave. Falling Wedge Formation The falling wedge is a graphic pattern of reversal of a downtrend in 68% of cases and continuation in 32% of cases. When the Falling Wedge occurs in a downtrend it is considered a reversal Falling Wedge or falling reversal...
Bearish Flag Pattern Strategy, The bearish flag is a continuation chart pattern that resembles the shape of a flag and it consists of two basic price waves in technical analysis. The bearish flag pattern is the most widely used chart pattern in forex and Crypto trading. As the name suggests it forecasts a downtrend in price. Due to the characteristic of trend...
The symmetrical triangle pattern is a continuation chart pattern like Ascending and Descending Triangle patterns. This pattern is characterized by two converging trend lines that connect a series of troughs and peaks. The trend lines should be converging to make an equal slope. This pattern indicates a phase of consolidation before the price breakout.
in the previous educational post, I posted about Rising Wedge patterns and in this post, I have explained Falling Wedge Patterns. ( Falling Wedge is the opposite of Rising Wedge pattern; for every chart pattern there are opposite patterns excluding some.) Falling Wedges are Bullish Patterns and it generates a bullish signal, Falling wedge patterns forms with...