Cryptolevels
ZRX Breakout the descending broadeningDescending Broadening Wedge Pattern Explained
A descending broadening wedge chart pattern is a bullish reversal pattern. This pattern is created by two declining and diverging trend lines .
A descending broadening wedge forms as price moves between the upper resistance and lower support trend lines multiple times as the trading range expands during the downtrend in price. Price should touch each line 2 or 3 times to be considered a valid pattern. This pattern looks like a megaphone pointing down and to the right.
A descending broadening wedge is looked at as a bullish pattern as it forms but it is not validated as a buy signal until the pattern starts to make short term higher lows and higher highs and the upper resistance trend line is broken and price begins to move to the upside and above the upper trend line. As the descending broadening wedge pattern is forming trading volumes become most meaningful as the pattern breaks out above the upper trend line, this should happen on increasing volume showing that the chart is starting to go into an accumulation cycle.
Crypto Forecast: ADA ☀️ 24 Hours; Correction in 1 WeekClouds lie ahead for the global crypto market, including Bitcoin and Ether in the next 24 hours, translating to a slightly bearish trend. ☁️ Altcoins Cardano, Dogecoin, Polygon, and Chainlink, however, enjoy bullish sunshine.
Over a one-week horizon, the ☀️ bullish sun will return for both Bitcoin and Ether. Yet, cloudier bearish trading conditions will prevail over Ripple’s XRP, Cardano, Binance Coin, and Polkadot. ☁️
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WILL BTC BE ABLE TO CONTINUE THIS BULLISH RALLY?
In the higher timeframe, Bitcoin (BTC) is currently encountering two significant resistance levels that it must surpass for a more bullish movement to materialize.
Why is it so strong? it's a 446-day resistance
In the daily time frame
"After each significant or sudden movement, Bitcoin has exhibited a tendency to consolidate sideways."
here we can see a bearish divergence in RSI also
So what do you expect?
LET'S HAVE A LOOK AT THE SHORTER TIME FRAME
In the shorter time frame, Bitcoin (BTC) has broken out of this bullish pennant pattern and is currently in the process of retesting it. According to the technical pattern analysis, we can anticipate a potential bounce of approximately 15% to 17% from the current level.
LET'S HOPE THIS IS NOT BEAR TRAP
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
ETH trade setup for 15th Nov 2023My setup yesterday was bullish, I only caught a 1:2rr. I didn't see other factors telling me to go bearish.
I was bent on being bullish, so I know and believe, setups can change. So learning to be dynamic is key and not holding to one belief of how the trade should pane out. However, it was a good day.
Today being, 15th Nov 2023, I'll be expecting a bearish scenario as outline on the chart. So I'll be expecting price to enter into the areas highlighted above and also the rectangle above for a reason to go short at specific time.
This is not a trade advice, please dyor
ETH Trade setup for 14th Nov 2023Eth has been bullish compared to BTC, so for me to trade this pair because it refused to make lower low but it also still took out some lows as an inducement to go short however, that's not the actually direction. It's direction is bullish to offset short traders. My possible scenario is for the market to trade into my zone at about 9:30am NY time today, then I can see what price is doing. If there be reasons to go long or short.
XRP Under the Weather: ☁️ Looming for the Next 24 Hrs, 🐻 TrendMixed trading conditions ahead on the global crypto market, with bullish sun shining on Bitcoin, Cardano, Avalanche, and Polkadot in the next 24 hours. 🌤️ Cloudier bearish trading conditions will prevail over Ether, Ripple’s XRP, Binance Coin, and Dogecoin, according to ATTMO. ☁️
Over a one-week horizon, the ☀️ sun will shine over cryptocurrencies such as Bitcoin, Ether, and Binance Coin. However, bearish clouds will linger over Litecoin, XRP, and Cardano.
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DAY TRADE 022BYBIT:10000STARLUSDT.P
Today we have 10000STARLUSDT! we hit the floor on this one and im trying to catch an order before this goes off if we need to come down lower on the price we will go again!
5:1
Thanks guys.
ETH to $2500 although retrace to $1950Looking at the ETH chart, I can see it can easily hit $2500 before some retrace however if the monthly (November) closes above $1950 without a retrace or reaching $2500, I would expect a retrace to $1950 before a push all the way to $2500
Let me know what you all think
ETH : 🌞 Skies & Upside Potential in 24H, Correction in 1 Week? Mixed trading conditions ahead for the global crypto market in the next 24 hours. Bitcoin and Polygon face cloudy skies ☁️, translating into a slightly bearish market with downside risk. The sun 🌞, however, shines over the rest of the cryptosphere like Ether, Avalanche, and Ripple, hinting at upside potential, according to ATTMO.
Over a one-week horizon, Bitcoin and Avalanche are likely to also benefit from a bullish sunny sky. Ether will see tropical trading conditions with rain indicating that an imminent market correction is likely. ☔
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Solana’s target defined. Idea combines Dow, Wyckoff and Fibonacci
Market maker just drew Solanas range with a surgical rebound at the 0.382 level. Could go as low as 0.5 without being weird (45.13)
Expect some type of consolidation and will be looking like the top is in.
Will do its thing and then go to the target zone.
Wouldn’t expect to run this level, it then again anything could happen.
Just an idea, trying to figure out the market’s maker view.
Exiting price action!
Trying to jump into NEOIdeas combine Dow theory, Wyckoff and Fibonacci. No other indicator used.
Neo is currently moving down after a huge selloff.
After careful examination and looking for the equilibrium zone, it is found that highest probability zone for optimal buying sits between 11.87 - 11.58 area (between the 0.382 - 0.05 levels)
A candle-close below 11.58 will invalidate the idea.
Looking at a 36 min chart here.
☁️ ADA 24-Hr Outlook: Bearish Trend Ahead, Downside Risk? Mixed trading conditions on the global crypto market in the next 24 hours. 🌦️ Cloudy bearish trading conditions ☁️ lie ahead for Bitcoin, Ripple’s XRP, Cardano, and Binance Coin, while ☀️ sunny bullish conditions lie ahead for Ether, Litecoin, and Dogecoin.
Over a one-week horizon, the ☀️ sun will shine over the entire crypto sphere, indicating strong upside potential. Only Polkadot is set to face a ☁️ cloudy bearish trend, as ATTMO shows.
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XRP ☀️ 24-Hour & 1-Week Horizon; Bullish Trend Is On! Mixed trading conditions on the global crypto market in the next 24 hours, with Bitcoin, Avalanche, and Polkadot facing a ☁️ cloudy bearish trend while Ether, Litecoin, Ripple’s XRP, and Cardano bask in the ☀️ bullish sun with upside potential.
Over a one-week horizon, the ☀️ sun is forecasted to shine over most of the crypto universe, XRP included, indicating that a bullish trend is likely, according to ATTMO. However, Polkadot bucks this positive trend with a ☁️ cloudy forecast.
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Bitcoin - Major Resistance Zones to trade - CryptocurrencyMajor Levels To Watch
Support Zone : $31,500-$32,00
Major Resistance to break: $35,300
Resistance 2: $39,987
Target 1: $44,000
Resistance 3: $53,880
Currently trading at a large margin above the Ichimoku Cloud.
ETF news could Easily Drive this into the first resistance zone.
Right now we are seeing lower-than-expected volume for this range as many traders are still sidelined waiting for the official ETF launch.
Remember most of the crypto market is correlated to bitcoin in some manner. Pay attention to these levels if you are trading alt coins.
ETH USD IdeaHello, Crypto Warriors! Let's dive into the current Ethereum (ETH) chart. On the weekly chart, we're seeing a bullish range, but on the daily timeframe, there has been a bearish retracement. Given this context, the logical approach has been to consider going long at a 25% discount within the range area, with a stop positioned beneath the zero line.
It's important to acknowledge that the odds are somewhat stacked against you as a trader in these conditions, primarily due to the passage of time and the percentage of the range that has already been traversed. That being said, it doesn't mean we can't envision higher price levels.
What this chart represents is a case study centered around the strong resistance level at 2209. If this level is breached, we could be looking at two potential scenarios: either a liquidation run followed by a reversal or a continuation of the bullish trend.
While we maintain a bullish outlook on cryptocurrencies, it's essential to recognize that there are multiple support levels below, and market makers may not be inclined to leave them untested.
At the moment, our approach is to trade level to level, strategically assessing the market in this environment. If you find value in the levels we've mentioned, or if you'd like more detailed information, please don't hesitate to let us know.
As you embark on your trading journey, we wish you a fantastic weekend and encourage you to find balance between your screen time and the world beyond. Remember, trading is a marathon, not a sprint. Enjoy the weekend and take a breather now and then!