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Descending Channel

ETC: Building Momentum to Break Descending Channel 🚀ETC's Journey Toward Breaking the Descending Channel: Prolonged Descending Channel: Since October, ETC has been confined within a descending channel, reflecting a prolonged period of downward movement. Building Bullish Momentum: The current market dynamics reveal a notable compression occurring under the upper boundary of the descending channel, suggesting a gathering of bullish momentum. Key Observations: Channel Exit Anticipation: Traders and investors are keenly observing ETC as it approaches the upper boundary of the descending channel, anticipating a potential breakout. Bullish Sentiment: The compression under the upper boundary implies a shift in sentiment, with bulls gaining strength and preparing for a possible upward move. Potential Implications: Bullish Breakout Scenario: If ETC successfully breaks out above the upper boundary of the descending channel, it could mark the end of the extended bearish phase and signal a new bullish trend. Target Levels: Traders will be eyeing key resistance levels beyond the channel exit for potential targets as ETC strives to establish a new upward trajectory. Trading Strategy: Confirmation and Entry: Wait for a confirmed breakout above the upper channel boundary before considering entry, ensuring it aligns with supporting volume and price action. Risk Management: Employ risk management tools, such as stop-loss orders, to mitigate potential downside risks and protect trading capital. Conclusion: As Ethereum Classic approaches the upper boundary of its longstanding descending channel, the compression suggests a shift in market sentiment. Traders are on the lookout for a potential breakout, which could signal the beginning of a new bullish phase for ETC. Wishing you successful trades as we monitor ETC's journey toward potential channel exit! ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
by AlexWhale
The Bullish Case for Bitcoin! A Comprehensive Analysis!!!🌟The Bitcoin is in a Bullish phase by ⤵️⤵️ ➡️the price broken this channel, the price can grow well. ➡️falling wedge pattern it means that the price would increase and the price has already broken the pattern! ➡️the BTCUSD has finished It's first five waves of Elliot wave principle movement (12345 Impulse wave) . The possibility of starting a impulse 5th waves!!! ➡️also Broadening Wedge it is another bullish sign. ✅Next Targets are 47k and 68k 🍻This is Longterm Analysis!!! Previous Analysis: 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
Long
by CobraVanguard
7
TSLA: It Has Just Reached a Major Turning Point (D and W charts)TSLA shares are down today, showing a bearish reaction right after closing their gap at $242.08, which is acting as a resistance level, as expected. The medium-term trend is up, as TSLA is recording higher highs/lows since bottoming out on October 31 at $194. In addition, it recently triggered an Inverse Head and Shoulders chart pattern after breaking through the $226 area, the neckline of this pattern, which is another bullish reversal chart structure. An IH&S pattern is nothing more or less than a bearish pivot point followed by a bullish pivot point (a lower H/L followed by a higher H/L). Now, if TSLA really corrects, it could look for its next support levels, such as the $226 mentioned above, which is close to the 21 ema on the daily chart and close to a previous gap as well ($225.40). Despite today's bearish reaction, this top signal has not yet been technically triggered. Could TSLA reverse and thwart this bullish sentiment? Yes, but it would need to trigger a clear bearish reversal structure (there isn't one so far) or lose the $206 again, because that key point was a previous bottom, and TSLA would make a new lower low if it lost it. On the weekly chart, we see that TSLA is reacting around a clear support area (yellow line), but is still within a Descending Channel, as evidenced by the purple lines. Therefore, for the long term to resume its bullish sentiment, it must break out of this channel to the upside. In any case, despite the bearish reaction and a possible pullback, medium-term sentiment is bullish and, in theory, TSLA can still seek higher levels. We'll be monitoring its key points closely. I'll keep you updated on this, so remember to follow me for more analysis like this.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
18
15 consecutive daily candles above totals descending channelWe can see price action came back down to retest the top trendline of this descending brown channel with exact precision and held above it now for 14 consecutive 1day candle closes. It is very likely to close a 15th consecutive candle here soon. We can see one wick back below the top trendline of the channel that was ultimately supported by the 1 day 5ma(in orange). That 50ma is now getting closes to rising above the channel itself for added springboard support. We can also see that the daily stoch rsi is reet as well with plenty of room to head upward. Everything is looking very good for the breakout of this channel to be validated in the ear future. *not financial advice*
CRYPTOCAP:TOTAL
by DrDovetail
1
Solana nearing the precipice of a breakout?We can see that solusd’s price action is now retesting the top trendline of this purple symmetrical triangle it has been in since around august of 2023. Obviously it only matters once we break above this trendline and flip that trendline to solidified support. Until that time one must remain levelheaded and not chase any breakout that is unconfirmed. If it were to trigger a breakout sometime within the next few days the target would be around $50 or slightly higher. The top trendline of this triangle also qualifies as an inverse head and shoulders neckline. We can also see that the measured move target for the breakout from the descending tan channel is above this neckline which increases the probability we will trigger the breakout of the purple triangle on the way up to hit the measured move target of the tan descending channel breakout. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
🚀Kusama : Is a Breakout on the Horizon?🚀Kusama (KSM), often referred to as the experimental cousin of Polkadot, is currently catching the attention of traders and investors. While the cryptocurrency market is no stranger to price volatility, Kusama's recent price action has sparked excitement and anticipation for a potential breakout. Shakeout Strategy: The Art of Market Manipulation In the world of trading, market manipulation often plays a significant role. One strategy employed by market participants is a shakeout, where prices are manipulated to briefly dip below a key level before rebounding. For Kusama, this key level stands at $16, the lowest point in recent trading. Pattern Recognition: Breaking Out of a Descending Wedge Another positive development for Kusama is the formation of a descending wedge pattern. This pattern, characterized by narrowing price ranges, often leads to a breakout. In Kusama's case, the potential for an upside breakout is generating excitement among traders. What to Expect: A Potential Bullish Surge Based on these patterns and strategies, many traders are watching Kusama closely. A successful rebound from the shakeout point, combined with the descending wedge pattern, may serve as a springboard for a bullish surge. Trading Strategy: Preparing for Opportunities For traders, Kusama's current situation offers the chance to prepare for possible trading opportunities. Whether you're a seasoned trader or new to the game, risk management is crucial in such scenarios. Conclusion: The Potential for a Kusama Surge While Kusama's recent market activity has included a shakeout strategy, there is reason for optimism. The descending wedge pattern suggests the potential for a bullish breakout, and for traders, this translates into the chance for profitable trades. 🚀 Crypto Insights | 💡 Trading Strategies | 💰 Market Analysis ❗See related ideas below❗ Please share your thoughts and insights on Kusama's price action. 💚🚀💚
Long
by Yaroslav_Krasko