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Descending Triangle

Descending Triangle with Minor Support and Long Term DowntrendJust an idea labelling my view and what I see, I tried to keep it unbiased as possible. I identified some local, minor, major, long term trend lines & support & resistance zones. From those lines drawn up I noticed a descending triangle forming with the LTDT and the Major Support, also, the RSI has equalized from the most recent pullback, and has room for further downwards pressure. The price also broke down from the 50 EMA and was rejected after a retest, I believe this is a bearish signal. BINANCE:KNCUSDT
Short
by MarcelloDajean
1
ALPHA/USDT LONG SETUP!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ALPHA/USDT TRADE setup. ALPHA looks good here. ALPHA is breaking out from the descending triangle in the 4hr time frame. Expecting a big move from here. Buy some now and add more in dip. Entry range:- $0.15-$0.16 Target1:- $0.178 Target2:- $0.194 Target3:- $0.226 Target4:- $0.242 SL:- $0.14 Use low leverage 4x-6x If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
What's Next On APE (complete analysis)Interesting fact about the current APE situation here I give detailed analysis. First, Ape breakdown from the overall 70% Fibonacci retracement which is unlikely, then it went further to break the 100% Fib. retracement again this is very unusual considering how bullish the APE market was but it happened due the the overall catalyst (BTC, UST, LUNA). Now here comes the big question, are we done with the downtrend? Yes we are. How? On the right hand side you can see that a break of structure (BOS) occurred causing the manipulator, market monger, stop loss hunter (whatever name you give them) to take/provide liquidity, wait that's not enough, yea but I have more. On the chart you can see where I annotate HL(higher low) and LL(lower low) while the RSI indicator forms the opposite LL,HL which is a strong bullish divergence Now we have 2 scenarios the symmetrical triangle or the descending triangle. If the symmetrical triangle breaks down, you might want to watch out for the descending triangle before exiting the trade if you check my previous analysis on symmetrical triangle you will notice I mostly have 2-3 backup plan for it. Unless I see a divergence at the oversold region of the RSI or again some unfavourable fundamental news and of course possibly BTC dump, I am holding my long position on APE. Build your buy/long position in between the 0.78 Fib. retracement and 1.00 Fib. retracement price level and set your stop loss at $6.55 for mid - long term while for short term set stop loss at the breakdown of the symmetrical triangle to the especially if price closes below the 100% ret. level ($7.280). Have a suggestion? What do you think comment below, like and share also see t.me/dewycandles for records of profit bagged from our APE analysis.
Long
by DewyCandles
2
Bout to run off on the $PLUG $PLUG has earnings this week, Monday May 9th after the market closes. My sentiment for obvious reasons I hope. $PLUG currently has a head and shoulders trading within a descending triangle on the daily and weekly. I kind of don't like the head and shoulders because the first shoulder doesn't touch the neckline but nonetheless There's also a small gap from 17.7 to 16.70ish on the daily. I think there's two things that are probably occurrences for $PLUG earnings. 1. Dependent on earnings report and macro market sentiment it could bounce to 24/25 area within or slightly outside of the top of the triangle. 2. Will breakdown outside the triangle on (another) missed earnings report and head towards small gap aforementioned above. Price targets: 17.70 16.70 14 I plan to watch the price action on Monday to figure out when will be the best time to enter a trade. If we have a green day I'll wait until i feel like the peak has reached or if we're downtrending I will wait for confirmation on 5 and 15 minute time frames to confirm the trend. Obviously an earnings play so probably risking 3-5% max off my account.
NASDAQ:PLUGShort
by markbully
MANAUSDT is testing creating a bearflag The price is testing the monthly support after a bounce on the monthly support on 1.45$ on the daily timeframe the price lost the support and now the market wants to retest it. on the 4h timeframe the price is creating a bearflag below the weekly resistance. how to approach it? IF the price is going to have a breakdown from the bearflag, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
8
BTC on the next daysBTC has been consolidated since two days in a triangle and formed a descending pennant. It's just broke this triangle. Moreover, the RSI's broke also its trendline. It's very likely that continuation will be the next step for BTC (after the first leg down on 05th May. I think the next stop is $34400. I think this price is a crucial and possibly a reversal point for BTC to be back to its yearly trendline. And why not a start of some thing big as in my previous post (see link below).
by evasivesteering
9