BTC Capitulation drop incoming??We are now in a descending triangle in the 4 hourly chart for Bitcoin and the range is getting tighter, be cautious of the capitulation phase.
Decsendingtriangle
$DIDIDIDI’s app remains online for its existing users in China but the suspension on new downloads and registrations could throttle its near-term growth. Therefore, the biggest challenges for DIDI personally I believe will be to bring its app back online, comply with China's new cybersecurity, data privacy, and labor regulations, and allay investors' fears about a potential delisting
And DIDI isn't the first Chinese company to face a suspension of its app.
Even as new registrations and downloads were suspended,
DIDI’s ride-haling orders in China still rose 13.1% in July over the previous month, according to the Ministry of Transport, outpacing the 10.7% growth for the entire market.
Those numbers indicate DIDI’s revenue -- and stock -- might surge once its app comes back online in China.
But, moving onto the technical side of things, with the little chart we have it’s forming a descending triangle on the daily here.
I’d keep this on your watchlist in case of a break to the upside or downside.
- Factor Four
USDCAD USD has been one of the weakest forex pairs since March.
Looking at the 4hr chart it has been making the pattern of lower highs against CAD since 19th of March and has matterialized a two months decending triangle that got confirmed by breaking below the floor of the pattern last week.
The previous support zone of the pattern should now act as resistant and a pull back to that level can be a good entry for a short trade.
The target of the patter is around 1.3450 which coinsides with a gap in that zone and a horizontal support zone.
This setup provides a 3 to 1 risk to reward trade.
Descending Wedge PatternMissed this trade setup but wow was this beautiful! EURUSD was making clear lower highs but not so much lower lows, as price started consolidating within the channel, price broke past the support level of structure and retested. Price could potentially come down the 1.07825 level and find support there.
