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Descending Triangle

Bitcoin - No one is talking about this! There are currently 3 options with a high probability of happening:  1) Bitcoin will crash very soon, so after that we can start an alt-season on altcoins after the crash to 13k (best option). 2) Bitcoin will go sideways for another 3 months and create a descending triangle, which will be the most boring time (you don't want it). 3) Bitcoin will go slightly up to the yellow trendline to catch all traders in a trap and then it will crash (disgusting scenario). 4) The bottom is in and Bitcoin will reach 200 000 USDT next year (no chance). Bitcoin is below all possible trendlines on the macro scale, so the bearish pressure is extremely high at this moment! Pretty much no one is talking about this parallel channel on the LOG scale. Also, no one is talking about the yellow trendline. But I would not be surprised at all if we break this parallel channel, because at this point, everyone will turn super bullish and after that, Bitcoin will drop like a rock. To complete an impulse structure from an Elliott Wave perspective, the price needs to print another impulse sub-wave to the downside. At this point, if we break 32 000 USDT, I can say that the bottom is in, which I would love to absolutely! If you haven't heard about the QNT (quant) altcoin, it's time to buy! For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
90
BTC Weekend Update: Chop Continues Before Next Trend MovePrimary Chart: Fibonacci Channel with Fibonacci Retracements of Entire Summer Rally BRIEF SUMMARY: Price continues to chop above and below the $19,246 retracement level identified in prior posts in recent days. Price action appears to be consolidating before the next trend move—this next downward flush may occur very soon. During this consolidation, trapping price action is occurring where breakouts above and below $19,246 are failing, trapping bulls and bears. More chop could continue until the breakout. The breakout is likely to happen in the coming two weeks —this is confirmed by the Supplementary Chart below, showing that the apex of multiple triangles is very near. But watch for a more volatile whipsaw fakeout move just before the real move in the direction of the trend occurs. A key target zone is the $14,200-$16,200 area where the yellow circle has been placed on the chart above. This yellow circle overlays the teal .23 Fibonacci Channel line. A key Fibonacci retracement level at $16,098 coincides with this target zone . Below this target zone would be $ 13,900-$14,800, a support zone that coincides with 2019 peaks—see the blue rectangle. A horizontal Fibonacci level also coincides with this support zone, with a 1.272 extension at $14,275 running through the center of this support zone. Additionally, one important Fibonacci level of interest lies at $12,000-$12,107 . BITSTAMP:BTCUSD continues to chop above and below the $ 19,246 level at the .786 retracement of the entire summer's rally. Failed breakouts above and below this level have occurred. As of early September 24, 2022, price is holding slightly below this level after a major rout in equity indices in Europe, US and Australia and other countries over the past couple weeks. This .786 Fibonacci retracement was identified on September 12 and 16, 2022, posts, as well as discussed as a level of greater importance in the September 21, 2022 and September 19-20, 2022 updates. On September 19-20, 2022 (Monday), the key levels to watch going into the FOMC presser on September 21, 2022 (Wednesday) were analyzed. Specifically, the charts discussed the "key Fibonacci retracements of the entire summer rally", noting that BTC had been holding near its .786 retracement, at $19,246, of the mid-June to mid-August 2022 rally. The September 19-20, 2022 post stated: "This level lies at $19,246, and price has made a couple attempts to break below it, each of which has failed, suggesting more sideways chop into the FOMC's meeting. In the Primary Chart above, note how price has continued to chop above and below the .786 retracement at $19,246. Each breakout ends up being a trap move. This seems to be the chop zone that will be the base from which the next breakout will lead to the next large trend move down. Price could break soon. The following support and trendline resistance areas suggest a right-angled (descending) triangle. These triangles suggest a breakout direction by the descending angle of the down trendline that composes the upper part of the triangle. Supplementary Chart A: Support Zone and Descending Triangles Further, price action seems to suggest that a break lower could occur at any moment. Before the break, be wary of more chop / whipsaw moves, especially a sharp move higher to trap bulls one last time before the next flush lower. A whipsaw move is not guaranteed, but would be unsurprising given the way BTC has chopped in volatile ways lately. Supplementary Chart B: Key Horizontal Fibonacci Levels and Support Zone Bears, on the other hand, should be prepared for a scenario where the next flush lower could be capitulatory, which may support conditions for a multi-month short-covering bear rally. While this bear rally is a more speculative concept based on the way markets behave after capitulatory lows, it's not unreasonable to consider potential possibilities if a severe flush arises the next few weeks. Traders may enjoy such a rally as well as shorting the next leg down of the bear market in coming months.
by SquishTrade
7
The big short - S&P 500! The situation for the stock market is really terrible. The fundamentals have never been worse in the last decade and it looks like we are going to drop even lower.  We have probably started a brand new major uptrend in interest rates that can reach 15% - 20% in the near future. Also, government bonds are rising, which is deadly for the stock market.  Let's be honest, it's not the best time to be in the markets if you are an investor. I believe there is an opportunity for swing traders and also day traders.  There is a possibility of a 10-year sideways bear market for the whole stock market, as happened in 2000 - 2009 or 1968 - 1980. The price is moving in a descending broadening wedge pattern and there is more than enough space to go lower from the current price.  Regarding my Elliott Wave analysis, we have completed 2 first waves (A, B) and we are currently in a C wave if we want to stay bullish. It can also be a third wave of the impulse (1, 2, 3, 4, 5) as a bearish scenario.  I expect the 2700 level to be a strong support, which is also the FIB 1.618 extension from wave A -> B. There is also a confluence with the POC level of an expanding triangle from 2018 - 2020. Look at my ideas about GOLD and Bitcoin in the related section down below. For more analysis, hit "Like" and "Follow"!
SP:SPXShort
by UnknownUnicorn2537518
53
Lyft May Have a Descending TriangleRidesharing company Lyft has tried to hold a price range since the spring. Now, after a couple of fleeting bounces, a bearish continuation pattern could be materializing. Notice the high on August 8 near $20, followed by a pullback to $13.75. LYFT then bounced but couldn’t get above $19. That high and lower high have produced a descending triangle -- a potentially bearish continuation pattern. The stock has tried to hold the bottom of the formation this week and could now be at risk of breaking below it. Next, you have the 100-day simple moving average (SMA), which has tracked neatly along the top of the triangle. Prices have also slipped back under the 50-day SMA. Finally, MACD is turning bearish. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NASDAQ:LYFT
by TradeStation
Bitcoin future price scenariosTraders, After two failed breakouts of our long-standing bullish descending wedged (since Nov. 21) , BTC is back down to our super strong support of $18,800. This support has held us up on 5 separate occasions since our June low. It has not broken down below with confirmation on the daily since Dec. 2020. Confirmation equals two daily candle closes below. However, if Bitcoin has taught us anything, it's that we should expect the unexpected. I have two potential price movements in my radar pending this all important support level. #1 = 18.8k Support Fails You can see that after failing to break out of our wedge the second time, BTC has retreated back into the red triangle. I have colored the triangle red due to it's inclination towards the bearish side. However, our 18.8k support has caught the price once again and is giving ole' BTC another rest. Should BTC break to the downside, I would expect it to test the bottom of our triangle one more time (currently 15k). Now, 15k does not have to be a precise price. We could wick down as low as 14k before the selling resides. But I would expect the body to close at or around 15-16k on the daily when it's all said and done at which point we rebound and finally break out to the upside of our long-standing descending wedge. We don't have much longer to live inside of this wedge. The tip of the wedge extends into mid-Nov and that is it! But I expect decision time to come sooner. I don't think we'll make it to November before the market is forced to decide. If we break to the upside, which is probable given the nature and character of descending wedges, this is very bullish for BTC. But, if in the unlikely scenario we break to the downside, the typical capitulation period for these long-standing wedges is fairly short in comparison. I would not estimate it to last more than a few weeks to a month at most. And then we go up. Essentially, this long-standing wedge is telling us all that the bottom is near ...for Bitcoin, at least. I cannot reiterate the same sentiment for the broader markets which I am also tracking though, I do anticipate some sort of blow off top for them. If you have been following my weekly video updates, you're already familiar with my theory here. #2 = 18.8k Support Holds So, let's say our support holds once again, the fifth time. What do I anticipate here. Well, obviously, the support holding is great news. But to anticipate price movement here, let's take a look at our RSI. You can see that I have charted what could potentially end up being a bullish inverse Head and Shoulders pattern. The neckline would be the red horizontal resistance which we are currently up against as I type. If we break above this, then I expect the market to bring enough volume and buying pressure in to finally and at last break to the upside of our descending wedge. It would be at this point I would proclaim that our bottom was in at the June low of around 17.5k. Have these things charted and you'll be in a much better position to trade successfully in the next few months. Best to you all traders! Stew
INDEX:BTCUSD
by stewdamus
BTCThis is my take on the current situation. BTC is currently on the support of the last high, this would be a perfect retest and a possible double bottom for BTC. However, BTC is also forming a bearish triangle with a measured move going way below 10k. I believe the crypto marked is trying to bottom, The last few weeks the market has felt different, some ALT coins has been popping, and a lot of bullish idea can be found on different charts. We might see one move lower and experience a max pain scenario before reversing. At this point i believe there's a lot more upside potential than downside potential. This setup provides to options: Go short if the bears break through the red support line. Go long if bulls break the green resistance line.
by thekneekeeper
Bitcoin - Uptrend before a massive crash! The trend is clearly descending and there is absolutely no sign of a trend reversal at this moment. The bears are extremely strong and I don't see any hope for a greater bullish price action. However, we can definitely experience a relief rally back to 21300 USDT and even break the trendline temporarily, where everyone can get caught like a deer in the headlight? On this daily chart, we can spot a descending triangle, and we can go sideways for another month and consolidate in this descending triangle. I would not be surprised at all if this happens. After the price breaks the triangle, I expect 12500 USDT as a potential reversal point. I think this crash will be very fast and will be followed by a huge bullish candle, so you want to set your limit orders to catch this upcoming flash crash. November and December can be very bullish months for Bitcoin, so you don't want to miss it at all cost. The good news is that the stock market and gold are already crashing while Bitcoin is relatively strong, to my surprise. On the 4h chart, Ethereum also shows a sign of a temporary relief uptrend, as does XRP and other altcoins. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
58
TRX/USDT WEEK CHART POSSIBLE DESCENDING TRIANGLE In this idea I am drawing a descending triangle to show the catalyst that should bring us to the bottom. Descending triangles tend to breakout to the downside and then the price action curls up to begin an uptrend. This idea takes into account many things such as and not limited to Fibonacci, Bulkowski, and correlation with Bitcoin. The difference is that with this chart they are used in a simple way to determine the targets and the movement that can be expected after the downtrend is over. The only thing this chart doesn't utilize is the RSI its just pretty. If you agree throw me a like and follow me for more unique concepts, ideas, and projections that keep you in the gains. Much love to my supporters -ND
Short
by The_New_Disciple
Descending Triangle on EUR/USD @ D1This descending triangle pattern on the daily chart of the EUR/USD currency pair offers an opportunity for a short trade in case of a downside 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 (1.09357) marked with the red line. I will ignore bullish breakouts from this trend continuation pattern.
Short
by AndriyMoraru
1
We bottom around 9k in December 2022? Please see chart.A minor run to 21k then a dump to 13k probably, sideways, then another dump to 9k where we bottom out. I am not going to trade it to 21k, too risky. Well, this supports the four year cycle theory. People call for 2023 bearish and 5k target, but I believe that we will go sideways from 9k, for half a year, then have a new bull run, I don't know how high we might get - I suppose the 21-22k region will be met with harsh resistance, since it is the ATH of previous cycle + the entire three bull run support line. 2018 till 2019 we went from 3000 to 13000, which is around 4x roughly. A 2x isn't all that bad to be honest. I do think we will break it in 2024 but we will never truly see a new all time high. Because this bull run was supported by the intense money printing that was unprecedented.
Short
by Heartskull
BTC GIVES LOWEST DAILY CLOSE OF 2022! WHAT'S NEXT??Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. After all the dramatic pump and dump because of FOMC, BTC price is again back to the same level. Currently, it is trading around $18.7k level. BTC gives a lowest daily close of this bear market and looks like it is break below this descending triangle in the daily time frame. There is no bullish sign yet. However, this breakdown will give more confirmation when we get another daily close below that level. As of now thing are not looking good. I'm expecting a new low soon. If BTC again gives a daily close inside the triangle or above $18.7k then things might change but till then stay cautious. What do you think about this? Do youu think we are ready to go for a new low or do you think that we again bounce from here? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Short
by CoreCrypto1
8
UniSwap - Bulls are trapped in the channel! What next? The bulls are still trapped in this descending parallel channel, so the bears are in full control and the bearish trend is intact!  There is a strong possibility of another 67% drop in this particular downtrend before we see a stronger uptrend.  According to my Elliott Wave analysis, an impulse wave is still not finished and we are looking for another leg downward.  Buy UNISWAP at the bottom of the channel, or 1.8, where I expect a massive bounce! I don't know if we will reach this level, but if yes, then this is a great buying opportunity!  The fundamentals are absolutely terrible right now for the stock market and crypto, and this trend may continue for another years. UniSwap is the most popular decentralized trading protocol, but it looks like the whales want to buy it cheaper. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
48
PHB Trade setupHere's a quick look at the PHB 1 hr chart. As we can see, the price has been forming a bigger descending triangle and the best entry would be when the price breaks above the triangle. ------------------------------------------- The idea is: Buy when the price breaks above the triangle and take profits at the levels shown in the chart. Targets: 1. 1.47$ 2. 1.6$ 3. 1.75$ 4. 1.85$ ------------------------------------------- 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!
P
by MBM_Crypto
ES could catch a bounceA few factors in this trade: ✅ Friday showed a nice bounce off the 3853 support level ✅ Bullish divergence on the MACD and RSI daily charts demonstrating seller exhaustion ✅ Wonky inverse head and shoulders and descending triangle could play out. Two price targets on this one with a defined stop at 3842 (giving that 3853 level some room to breathe). Hoping we can get up to fill the Weekly gap on the futures charts, create another lower high, and continue with the macro downtrend.
CME_MINI:ES1!Long
by anAirdrop
Terra Classic LUNC - More downside is coming! | Elliott wave The bull party for LUNC is over, and now we need to regain strength again at lower levels! Many people have lost money in UST and LUNA in the past; there is no trust in these projects, and I would never buy them for long-term speculation.  Maybe that was just a scam pump. I don't even know if someone can trust these coins named Luna, LunaC, Luna2. It looks like a pump and dump game for whales. Better to short it on the futures market to make some money or just stay away. That's my recommendation. I'm not saying we'll go straight down; rather, the price may print a triangle before continuing to the abyss.  As per my Elliott Wave analysis, a major impulse wave has finished and we are looking for a retracement to the downside. 0.618 FIB, or 0.5, is a classic correction for a first impulse wave, and it fits perfectly with the previous horizontal support exactly at 0.00011 USDT. It looks like a sweet point to buy LUNC again if you are bullish about the next possible uptrend. I expect tremendous gains for Golem (GLM). You can find this altcoin in the related section down below. For more analysis, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
82
DOGE/USDT LONG SETUP! READY FOR 40-50% PUMP!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this DOGE/USDT trade setup. DOGE looks bullish here. Breaks out from the descending triangle in 8hr time frame. Open long position now and add more in the dip. Target1:- $0.065 Target2:- $0.072 Target3:- $0.078 Target4:- $0.088 SL:- $0.056 Use low leverage:- 2x-4x If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
7