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Descending Triangle

Bitcoin - Drop to 13 000 USDT! But first a relief uptrend!🟡 The situation for Bitcoin is terrible. There is nothing bullish at this moment. We are below the 200 weekly moving average and the main trendline from 2013 has been destroyed by the bears recently. The bulls are weak, and the only trump that they have is the 200 weekly moving average on the TOTAL crypto market cap chart, because the price is above this level. On the 4h chart we have a descending parallel channel that is well respected, so there is a possibility for another drop down in the immediate short term. As per my Elliott Wave analysis, an impulse wave has been printed on the chart, and this is absolutely devastating for the bulls. That's not what you want to see. Anyways, I think this impulse wave is done or almost done and we should go up for an ABC correction above the previous triangle to wipe out late shorts on the futures. Then it looks like we will continue lower to 13 000 USDT, which would be a great zone for a long position back above 25 000 USDT. However, I don't think we will hit the all-time high in the next few years. It looks like the bubble has popped and we are in the first real bear market in the history of Bitcoin. The first bull cycle from 2009 - 2021 has ended and we are in the first bear cycle. We don't know how long this bear cycle is going to last. For more analysis hit "Like" and "Follow"!
Editors' picks
by UnknownUnicorn2537518
239
0% Inflation very soon?United States Inflation Rate, Year-over-Year, 1914-2022 chart ---------------------------------------------------------------- Why do I think inflation will go down to 0%? Inflation is currently at the main trendline (established in 1920). This is a very strong resistance, and as a general rule, do not short a support or long a resistance. In other words, you don't want to speculate on inflation increasing when inflation is at its critical point. FED cares about their charts, and they also want the charts to look great. That's why they will push inflation down. ---------------------------------------------------------------- Why the Inflation Rate Matter? The inflation rate demonstrates the health of a country's economy. It is a measurement tool used by a country's central bank, economists, and government officials to gauge whether action is needed to keep an economy healthy. That's when businesses are producing, consumers are spending, and supply and demand are as close to equilibrium as possible. A healthy rate of inflation is good for both consumers and businesses. During deflation, consumers hold on to their cash because the goods will be cheaper tomorrow. Businesses lose money, cutting costs by reducing pay or employment. That happened during the subprime housing crisis. In galloping inflation, consumers spend now before prices rise tomorrow. That artificially increases demand. Businesses raise prices because they can, as inflation spirals out of control. When inflation is steady, at around 2%, the economy is more or less as stable as it can get. Consumers are buying what businesses are selling. ---------------------------------------------------------------- How is inflation measured? There are several ways to measure inflation, but the U.S. Bureau of Labor Statistics uses the consumer price index. The CPI aggregates price data from 23,000 businesses and 80,000 consumer goods to determine how much prices have changed in a given period of time. If the CPI rises by 3% year over year, for example, then the inflation rate is 3%. The Fed, on the other hand, relies on the price index for personal consumption expenditures (PCE). This index gives more weight to items such as healthcare costs. ---------------------------------------------------------------- How do you hedge against inflation? Because inflation causes money to lose value over time, hedging against it is an important part of any sound investing strategy. Investors use a diversified portfolio with a variety of asset types to offset inflation and ensure that the overall growth of their portfolio outpaces it. ---------------------------------------------------------------- YEAR - INFLATION RATE YOY - FED FUNDS RATE - BUSINESS CYCLE (GDP GROWTH) - EVENTS AFFECTING INFLATION 1929 0.6% NA August peak Market crash 1930 -6.4% NA Contraction (-8.5%) Smoot-Hawley 1931 -9.3% NA Contraction (-6.4%) Dust Bowl 1932 -10.3% NA Contraction (-12.9%) Hoover tax hikes 1933 0.8% NA Contraction ended in March (-1.2%) FDR's New Deal 1934 1.5% NA Expansion (10.8%) U.S. debt rose 1935 3.0% NA Expansion (8.9%) Social Security 1936 1.4% NA Expansion (12.9%) FDR tax hikes 1937 2.9% NA Expansion peaked in May (5.1%) Depression resumes 1938 -2.8% NA Contraction ended in June (-3.3%) Depression ended 1939 0.0% NA Expansion (8.0% Dust Bowl ended 1940 0.7% NA Expansion (8.8%) Defense increased 1941 9.9% NA Expansion (17.7%) Pearl Harbor 1942 9.0% NA Expansion (18.9%) Defense spending 1943 3.0% NA Expansion (17.0%) Defense spending 1944 2.3% NA Expansion (8.0%) Bretton Woods 1945 2.2% NA Feb. peak, Oct. trough (-1.0%) Truman ended WWII 1946 18.1% NA Expansion (-11.6%) Budget cuts 1947 8.8% NA Expansion (-1.1%) Cold War spending 1948 3.0% NA Nov. peak (4.1%) 1949 -2.1% NA Oct trough (-0.6%) Fair Deal, NATO 1950 5.9% NA Expansion (8.7%) Korean War 1951 6.0% NA Expansion (8.0%) 1952 0.8% NA Expansion (4.1%) 1953 0.7% NA July peak (4.7%) Eisenhower ended Korean War 1954 -0.7% 1.25% May trough (-0.6%) Dow returned to 1929 high 1955 0.4% 2.50% Expansion (7.1%) 1956 3.0% 3.00% Expansion (2.1%) 1957 2.9% 3.00% Aug. peak (2.1%) Recession 1958 1.8% 2.50% April trough (-0.7%) Recession ended 1959 1.7% 4.00% Expansion (6.9%) Fed raised rates 1960 1.4% 2.00% April peak (2.6%) Recession 1961 0.7% 2.25% Feb. trough (2.6%) JFK's deficit spending ended recession 1962 1.3% 3.00% Expansion (6.1%) 1963 1.6% 3.5% Expansion (4.4%) 1964 1.0% 3.75% Expansion (5.8%) LBJ Medicare, Medicaid 1965 1.9% 4.25% Expansion (6.5%) 1966 3.5% 5.50% Expansion (6.6%) Vietnam War 1967 3.0% 4.50% Expansion (2.7%) 1968 4.7% 6.00% Expansion (4.9%) Moon landing 1969 6.2% 9.00% Dec. peak (3.1%) Nixon took office 1970 5.6% 5.00% Nov. trough (0.2%) Recession 1971 3.3% 5.00% Expansion (3.3%) Wage-price controls 1972 3.4% 5.75% Expansion (5.3%) Stagflation 1973 8.7% 9.00% Nov. peak (5.6%) End of gold standard 1974 12.3% 8.00% Contraction (-0.5%) Watergate 1975 6.9% 4.75% March trough (-0.2%) Stop-gap monetary policy confused businesses and kept prices high 1976 4.9% 4.75% Expansion (5.4%) 1977 6.7% 6.50% Expansion (4.6%) 1978 9.0% 10.00% Expansion (5.5%) 1979 13.3% 12.00% Expansion (3.2%) 1980 12.5% 18.00% Jan. peak (-0.3%) Recession 1981 8.9% 12.00% July trough (2.5%) Reagan tax cut 1982 3.8% 8.50% November (-1.8%) Recession ended 1983 3.8% 9.25% Expansion (4.6%) Military spending 1984 3.9% 8.25% Expansion (7.2%) 1985 3.8% 7.75% Expansion (4.2%) 1986 1.1% 6.00% Expansion (3.5%) Tax cut 1987 4.4% 6.75% Expansion (3.5%) Black Monday crash 1988 4.4% 9.75% Expansion (4.2%) Fed raised rates 1989 4.6% 8.25% Expansion (3.7%) S&L Crisis 1990 6.1% 7.00% July peak (1.9%) Recession 1991 3.1% 4.00% Mar trough (-0.1%) Fed lowered rates 1992 2.9% 3.00% Expansion (3.5%) NAFTA drafted 1993 2.7% 3.00% Expansion (2.8%) Balanced Budget Act 1994 2.7% 5.50% Expansion (4.0%) 1995 2.5% 5.50% Expansion (2.7%) 1996 3.3% 5.25% Expansion (3.8%) Welfare reform 1997 1.7% 5.50% Expansion (4.4%) Fed raised rates 1998 1.6% 4.75% Expansion (4.5%) LTCM crisis 1999 2.7% 5.50% Expansion (4.8%) Glass-Steagall repealed 2000 3.4% 6.50% Expansion (4.1%) Tech bubble burst 2001 1.6% 1.75% March peak, Nov. trough (1.0%) Bush tax cut, 9/11 attacks 2002 2.4% 1.25% Expansion (1.7%) War on Terror 2003 1.9% 1.00% Expansion (2.9%) JGTRRA 2004 3.3% 2.25% Expansion (3.8%) 2005 3.4% 4.25% Expansion (3.5%) Katrina, Bankruptcy Act 2006 2.5% 5.25% Expansion (2.9%) 2007 4.1% 4.25% Dec peak (1.9%) Bank crisis 2008 0.1% 0.25% Contraction (-0.1%) Financial crisis 2009 2.7% 0.25% June trough (-2.5%) ARRA 2010 1.5% 0.25% Expansion (2.6%) ACA, Dodd-Frank Act 2011 3.0% 0.25% Expansion (1.6%) Debt ceiling crisis 2012 1.7% 0.25% Expansion (2.2%) 2013 1.5% 0.25% Expansion (1.8%) Government shutdown. Sequestration 2014 0.8% 0.25% Expansion (2.5%) QE ends 2015 0.7% 0.50% Expansion (3.1%) Deflation in oil and gas prices 2016 2.1% 0.75% Expansion (1.7%) 2017 2.1% 1.50% Expansion (2.3%) 2018 1.9% 2.50% Expansion (3.0%) 2019 2.3% 1.75% Expansion (2.2%) 2020 1.4% 0.25% Contraction (-3.4%) COVID-19 2021 7.0% 0.25% Expansion (5.9%) COVID-19 2022 8.3% 3.25% Contraction (-1.6%) As of Sept. 21. 2022 2023 2.7% (est.) 2.8% (est.) Expansion (2.2%) March 2022 projection
ECONOMICS:USIRYYEducation
by UnknownUnicorn2537518
56
ADA - 47% CRASH | Buy here! I am very bearish on specific altcoins such as ADA, XRP, SOL, LUNC, SHIB and much more. Why? Because the charts are terrible and I don't even know why you should buy these overpriced altcoins that will never make you rich. Some gains are possible, but you have to focus on altcoins with low market caps, not these Giants. It's too late for the party. I am not saying these altcoins are bad. These coins are great, but the market cap is too high and whales want to buy them at a cheaper price.  Cardano is in a massive downtrend, basically in a free fall mode, and another 47% drop is likely in my opinion. There is pretty much nothing bullish on this chart; the bulls completely disappeared.  You can buy ADA at 0.1841, at least for a short-term bounce (150% - 300% profit). I will inform you about possible targets next year, so do not miss it and follow me! The price is printing a falling wedge pattern and a descending triangle. As you can see, the bears destroyed the triangle without any problem! From the Elliott Wave perspective, the market structure is insanely bearish and I expect 2 huge impulse waves downward to complete a major ABC correction. The bears are in power and I would not play with them at all cost. We need much more time to recover from this abyss. Look at my ideas about XRP and LUNC in the related section down below. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
60
Bitcoin is reaching a critical stateLooking at the chart analysis, you can see a few things: 1. The Bollinger bands' upper and lower boundaries are squeezing, which likely means a big move is happening. If the price goes over the basis, it will most likely break upwards, while if the price continues being under the basis, then it will most likely break downwards. 2. The “Descending triangle” that has been forming since past month is coming to an end. 3. Bitcoin's volume has been decreasing ever since the descending triangle formed. Due to these occurrences, Bitcoin is about to finally change its direction, and maybe end the sideways motion it had since August. This in turn will change the direction of the Crypto market. This is not investing advice, and I will respect everybody's opinion. Feel free to say what you think about this study. BITSTAMP:BTCUSD
BITSTAMP:BTCUSD
by lorinstocksinvesting
2
Bitcoin - 2018 vs 2022 I know that bullish analysis on Bitcoin is extremely unpopular at this moment. I can feel it in the comment section of my several previous Bitcoin analysis. The most popular ideas on TradingView are extremely bearish, and the sentiment is very negative and fearful. Pretty much everyone is expecting 13k. In this case, I am not saying the crowd is wrong, because during a fifth impulse wave, the crowd might often be right. The situation is, of course, very different this time compared to 2018, but I have seen a lot of these comparison analyses on Bitcoin, so let's do it. The triangle in 2022 is really weird. It's probably not even a triangle. It looks like an inverse head and shoulders with a steep neckline or a double bottom reversal pattern. Triangles usually appear just before the end of the trend or at the end of the trend. These patterns are, of course, very tricky. There is a possibility of a last scam wick to the downside to 17,600-17,900 before the price explodes to the upside! But I hope the bulls will defend 17611 USDT because it's very important from the Elliott Wave perspective. I hope the bulls will prevent Bitcoin from falling because I don't want a 5-year bear market, I think no one wants it in the crypto community. For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
154
Bitcoin - 180% PROFIT on this trade! | Elliott Wave In this analysis, you will discover a strategy or a plan for 180% profit on Bitcoin. Please, read! The stock market and cryptocurrencies are in a bear market, but that does not mean that there are no opportunities. The fundamentals have never been worse for bitcoin since its existence. On the chart you can see a great potential setup that you can take for a massive profit, up to 186%! 12500 USDT is a very strong level and there is a confluence to buy exactly at this point.  Confluence: start of the gap from 2020 + previous swing high from 2019 + impulse Elliott Wave completed + Wave A + previous Wave (1) support + previous breakout level of the Head and Shoulders pattern.  If you don't want to wait for this profit target, you can sell Bitcoin at 17600 USDT or 24000 USDT, which are strong resistance on the way up. But I think 24 000 USDT is definitely doable!  The price is below the 200 weekly moving average, which is really bad. This particular MA is considered a strong support/resistance by huge institutions and hedge funds. According to my Elliott Wave analysis, there is a high probability that we are going to finish this incomplete impulse wave, so more downside is possible!  Buy bitcoin at 12500 USDT and sell it at 35900 USDT. It sounds like a great plan, doesn't it? For more analysis, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
89
Bitcoin BTC, Secret trendline from 2013! No one is talking about This is the monthly historical chart for Bitcoin , and as you can see, we are currently at major and very important support! We have a long-term trendline that is printed only on the LOG scale, and the majority of retail traders never use the LOG scale, so that's why it's invisible to them. The trendline was established in 2013, and this is the one and only one trendline you can draw at this moment. So what happens if we break this trendline and previous all-time high from 2017 in conluence? Well, it will be extremely nasty, and this bear market is probably going to be the longest in the history of Bitcoin . We can basically have a 10-year sideways/corrective structure. There is also a possibility of a drop to 3000 USD (not now, but later in 2024) to the previous swing low from 2020. This is a true bubble that will pop, not the previous 2014 or 2017. Also, if we break this trendline, then I can make a complete lifetime impulse wave from 2009 to 2021, and we are prepared for a multi-year massive ABC correction. But I have faith in this support because, why not? Any speculation on a breakdown is, in my opinion, very risky at this point. You don't want to short the support and long the resistance, you want to do exactly the opposite. But the majority of breakout traders make this mistake. First, they should wait for confirmation before entering a short position here. Do you think the trendline will hold or not? Let me know in the comment section! For more analysis, please hit "Like" and "Follow"!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
118
Terra LUNC - 47% drop is in-play! Maybe there is nothing that can stop an upcoming dump on LUNC at all. The bears are really strong here and we are currently 60% down from the previous swing high. As you can see, the price is breaking down from the local descending triangle and heading downward to the abyss. Also, we have a descending parallel channel , and we can possibly touch the bottom of the channel! If you think LUNC is a great coin, then you can buy LUNC at 0.00013, which is a reasonable place to buy because there is a great confluence. As per my Elliott Wave analysis, the uptrend from September 26 to October 2 was just a 2 wave corrective move. This is definitely not what you want to see as a bull. You can be sure I will also be bullish on LUNC, but first I want to see some bullish price action, and this is definitely not a bullish price action! But on the other side, this coin is a perfect opportunity for the bears to short this coin on the futures market. Look at my idea about XRP in the related section down below. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
50
BTC breakout is imminent!Here's a quick look at the daily BTC chart. As we can see, the bearish trend continues, and the price has been trading within a descending triangle formation for some time now. If the price breaks below the descending triangle , then the price will very likely end up at 14K! The price must stay within the triangle to avoid further downside! I must add that SPX500 is down a lot, and BTC hasn't followed up yet. We may see a big move from BTC in the coming days. I'm expecting the 18k support to be broken very soon. I still hold my stance of sub-13k BTC! Also, the volume has been increasing while the price has been decreasing! This is a bearish sign as well! ------------------------------------------- What are triangles when it comes to trading? Key points: "1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape. 2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure. 3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Short
by MBM_Crypto
6
POSSIBLE DESCENDING TRIANGLE. BITCOIN MIGHT TARGET JUNE LOWWith the last accelerated dump, Bitcoin price painted a descending triangle. For the moment the Bitcoin price is struggling just below the Monthly open (19423). Failing to break above this level of resistance, will give bears a chance to play this new descending triangle and possible target the liquidity from the JUNE low area (17600) Once the top of the triangle is broken and flipped in support, this pattern could be invalidated. Trade safe.
BITSTAMP:BTCUSDShort
by BarbarianTrader
BTC: NICE REVERSAL AFTER CPI BUT IS IT ENOUGH TO PUMP BIG??Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this BTC update. BTC is perfectly holding its $18k support level so far. Even the worst data of CPI is not even able to break this support but the question is whether this pump is enough to make a reversal in BTC. Let's get to the chart first. As you see BTC is forming a descending triangle pattern in the daily time frame which is generally a bearish pattern but as of now, BTC holding its lower support zone perfectly. So, what I'm expecting from here? Expecting the next few days will be green for the overall market (BTC and Alts) and we might see BTC reach $20k-$21k from here but there are high chances that it again rejected from the upper resistance of the triangle. After rejecting we see again it is testing the lower trendline and maybe breaking the support at that time. So in a short way, I'm expecting a little bit more pump up to $20k-$21k from here and after that, we again see a drop. Let's see how this goes. Hope this analysis will clear your trading plan. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
by CoreCrypto1
10
BTC.D - The Alt Season is around the corner! Don't miss it. The Alt Season is around the corner, I can see it on this chart! It's not a question of if it will happen, but when it will happen.  The lighting network is not supported by major exchanges because they don't want it and it's not in their business plan (as per the statement). This is, at this moment, very positive for altcoins.  It's really important to pick the right altcoins because we are not in 2017 when even scam coins pump.  We have been moving sideways on this chart for a long time, but nothing lasts forever. I expect a breakdown of this bearish rectangle pattern very soon!  As per my Elliott Wave analysis, this structure is very bearish and we should continue down with another impulse wave. From an EW standpoint, an ABC correction has been completed, so there is probably nothing that can stop this downtrend.  ALT SEASON usually happens when the BTC.D goes down. It's usually during bull markets. When we are in a bear market, everyone is selling their altcoins and buying bitcoin instead.  The 0.618 FIB extension from wave (1) to wave (2) is the next target, but I think we can go even lower later.  Make sure to pick the right altcoins. I expect tremendous gains for selected altcoins. You can find them in the related section down below.  For more analysis, hit "Like" and "Follow"!
CRYPTOCAP:BTC.D
by UnknownUnicorn2537518
64
One more kiss!Traders, After breaking to the upside of our long-standing, year-old bullish descending wedge, BTC is retreating exactly as I hoped it would do. Wait! Did you read that right? Was I really hoping for BTC to retreat after breaking to the topside of its wedge? Well, yes. Actually, I was. Cuz’ that retreat represents patently perfect technical price action. See, after a breakout of previous major resistance, which now becomes support, price loves to go back down to retest that resistance/support level/zone. And personally, I’d rather this retest happen sooner than later! I may be on the hunt to snag some BTC here real soon! Best of luck traders! Stew
INDEX:BTCUSDLong
by stewdamus
Descending Triangle on CAD/CHF @ H4This descending triangle pattern on the 4-hour chart of the CAD/CHF currency pair offers an opportunity for a short trade in case of a bearish breakout. The triangle's borders are marked with the yellow lines. The cyan line is where my potential entry level will be. The green line denotes my take-profit level. I will set the stop-loss level to the triangle's highest point (0.73051) marked with the red line. I will ignore bullish breakouts from this trend continuation pattern.
Short
by AndriyMoraru