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Descending-triangle

Bull's Vs. Bears all or nothing, FINAL EFFORT FOR BULL MARKETAs you guys can tell, I have been extremely excited lately, and watching bitcoin in good health and strength is really satisfying. Although you can make money at greater speed shorting, there is nothing that satisfies the spirit as a strong bull market. This is the last and the final battle for bitcoins longer term future right here, and its exciting. IF you have been following my channel, then you do understand that I have been talking about a double bottom and a descending triangle, well, I have taken a macro picture of the last 6-7 months, because right now is a good time for a macro picture, so we can understand what is happening and what could happen in bitcoin's future. In the off color blue circles, I have highlighted the points of the bottom, the purple trendlines are the trendlines of the descending triangle and the light blue trendline is the trendline of the symmetrical triangle that bitcoin fell out of. The red bars are a point of strong resistance and the red line is a point of strong resistance. Understand that supports do become resistance, and vice versa, currently bitcoin's price is under the previous support of the symmetrical triangle which is now resistance, in addition, it is also around a point that was its previous support and a good amount of trading had taken place there. In addition, the 100 day simple moving average will be converging on that position as well. So my point is there will be an extraordinary amount of resistance there. Generally speaking, a head and shoulder pattern has an 85% chance of hitting its price objective in addition to being a trend reversal pattern, so this will be a battle to be felt and seen. Key Points: 1.) A lot of different points of resistance are converging around the 7500 and the 8000 region. This includes the 100 Day MA, Symmetrical triangle both the resistance and the previous support. 2.) The Bulls look strong and they have a strong probability of hitting 7800-7900 and they have a determined trend reversal pattern. 3.) Rejection or significant penetration of 7900-8000 levels will determine whether we remain in the bear market or whether we enter a bull market. Trade smart, hedge risk, and make some money! Previous Analysis
COINBASE:BTCUSD
by CuddlyCuddles
EURCHF Bearish Butterfly Pattern OR Descending TriangleI expect the price to continue its uptrend for a day or two until it reaches the .382 retracement level, at which point it can then go either way - The price will break above the .382 retracement level in which case I'll go long expecting a take profit around the top of my Fibonacci retracement. or - The price will bounce of the .382 retracement level in which case I'll go short if it break below the .500 retracement level expecting a take profit around my support area
by Pronoe
EURJPY : Upward Breakout Descending Triangle?Hey guys! A couple weeks ago I posted about a Descending Triangle on EURJPY that seems to be near completion soon! But I seem to find signals that it will be an upward breakout instead! -Stochastics have shown a bullish divergence -Weekly chart Fib Retracements has shown that this Descending Triangle is resting on the 50.0 Fib Level Seems like it could be a really good buy signal! I love divergences, they are always so strong! If it breaks upward, I'm gonna trade it! If it breaks downward, I won't touch it! Weekly Chart 50.0 Fib Level: Any thoughts and comments on this? Share it here! :)
Long
by GenesisCTY
USDCAD H1 BULLISH ABCD.. I found a pattern that was playing its game on the usdcad with the price making a double bottom on the hourly chart and the price action forming an inverse pin bar with a bullish candle following , forming then a morning star pattern that confirm the short ter bullish bias for this pair. At the moment the price made a higher high and besides the bad news released today on job claims the pair still holds a bullish momentum which support the trade and shows strength on the bullish side. I expect the price to continue to the bullish side if we see good news related to the pair with the Ivey PMI Release for the CAD and the Factory Orders release for the USD.
Long
by tommyjose92
Descending Triangle, Weak Gartley combo, 4 Hr This descending triangle is always a bearish pattern, indicating a strong sell signal. Here we see it paired with either a "weak" Gartley or Crab advanced pattern. Technically it's a failed gartley. I call it weak, because the 'B' point retracement of XA doesn't reach the .618 fib levels. To be fair this has more of a potential for the Crab pattern, which would make the floating 'B' point valid and would also corroborate with our Larger Gartley pattern on the daily chart. I *may* have helped push this up and out of the descending triangle after we bounced on the blue .618 fib line. A large enough buy at the right times can do that. Considering that I was heading out of town for four days of backpacking off the grid; the failed break out was a signal that I didn't want to have open short positions of substantial size left unattended. Likely it would have continued sideways regardless but the end result remains the same. Read more about descending triangles: www.babypips.com Read more about Crab patterns: www.trade-forex-harmonic-patterns.com Read more about Gartley Patterns: www.harmonictrader.com
BITSTAMP:BTCUSDShort
by ninjabenja
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