Get started

Descending Triangle

GBPJPY → Ahead of a rate hike in Japan...FX:GBPJPY intends to continue the current bearish rally. The price temporarily stops at the 197.00 zone for a short respite before falling further. The market is expecting an interest rate hike in Japan... Price breaks the bullish market structure and then confirms the bearish one, indicating a change in the global trend. Volatility is rising in Japanese markets, with the Bank of Japan expected to discuss a rate hike this week and consider a plan to halve government bond purchases. This is a strong scenario for the strengthening of the national currency, traders are reducing the number of short positions this time. Technically, the focus is on the level of 197.2, this zone splits the market into two zones. Accordingly, price consolidation below this level will be the starting point before the rally. Support levels: 195.8, 193.8, 191.8 Resistance levels: 197.2, 198.75 Both fundamentally and technically everything is steamed towards further decline. The actions of the Central Bank of Japan affect the rate quite strongly... Rate, share your opinion and questions, let's discuss what's going on with ★GBPJPY ;) Regards R. Linda!
Short
by RLinda
5
STORJ / USDT → Wedge breakout with trend change target BINANCE:STORJUSDT shows positive dynamics to the change of trend and the beginning of bullrun. The coin is moving to the phase of implementation of a pattern that can change the direction of the market. Bitcoin sets the general trend of the cryptvault market. The general fundamental background, which is formed around BTC and ETH sets positive prospects for other altcoins, which can still surprise us. Technically, STORJ is coming out of consolidation and is essentially entering the distribution phase. A false break of the key resistance is formed, which can be broken after the next retest. High probability of a small correction before a subsequent attempt to break through this zone and enter a new range of 0.500 - 0.900. Resistance levels: 0.4882, 0.6034 Support levels: 0.5 Fibo, 0.3530 The task of the bulls is to keep the defense above the key support, if it succeeds, the next target will be the breakout of resistance and bullrun. Regards R. Linda!
Long
by RLinda
1
GOLD → Retest resistance before a breakout. What's next?FX:XAUUSD has been strengthening since the opening of the session and is testing the 2400 zone. The market is getting bullish again, but at the same time it is at a strong resistance. The focus is on 2393.0. There is no news today and the overall situation is stable. Gold has no obvious reasons for a possible strong fall. Markets are waiting for the confirmation of the progression of US deflation with the subsequent hints on the soon reduction of interest rates. The fact itself is favorable for gold. Technically, the focus is on the edge of the range 2393. Consolidation of the price above this area may well influence further growth, but it is necessary to follow the descending resistance, because it will be difficult to pass this area from the first time. Resistance levels: 2400, 2430 Support levels: 2393, 2384, 2377 Technically and fundamentally everything is quite positive. We should expect a retest of resistance with subsequent growth, but it is not excluded that before the active recovery phase there may be a retest of support, for example: 2387, 2382 or 2377 Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
XRP → The moment before “to the moon” ↑BINANCE:XRPUSDT is the strongest of the market. As ETH & BTC fall, ripple is holding quite positively as traders are starting to believe in growth amid rumors... Ripple CEO recently said that he expects a legal resolution to the situation between the SEC and Ripple “very soon” Many are speculating that the SEC's closed-door meeting to finalize the case against Ripple could take place today - July 25. Against this backdrop: Trading volumes are rising, price is hitting local highs, whales are accumulating XRP Technically, it is worth paying attention to the 0.6378 - 0.5712 range. If breaking the resistance fails, the price may test liquidity below the support before subsequent growth. Resistance levels: 0.6378, 0.7440 Support levels: 0.5712, 0.5100 If the trial finds its denouement, it will give a second life to the coin. A break of the range resistance - 0.6378 will open a new path.... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSDT ;) Regards R. Linda!
Long
by RLinda
25
DOGE → The bulls are overcoming resistance. Trend change?BINANCE:DOGEUSDT is breaking trend resistance and on W1 the bulls have kept the price above the risk zone. Prospects are emerging for a possible rally.... The 0.1-0.05 area is the bottom of the market. Strong accumulation is forming in this area. The price left it back in the spring, but the recent retest showed that the bulls are not ready to let the price beyond 0.106, which generally determines the medium-term prospects. On D1, the price is breaking the trend resistance of the Wedge pattern, forming a small rally to 0.1437. If the bulls hold their positions and defenses above 0.126 - 0.1200, the market will retain its bullish phase, thus we can soon see a breakout of the local high with a subsequent rise to ATH Resistance levels: 0.1437, 0.1657 Support levels: 0.126, 0.12 There is no fundamental analysis, but technically there are good prospects. Various services are showing a spike in whale activity in DOGE, which could signal as increased interest. I expect a positive outcome from the bulls with a subsequent rally to the zones of interest Rate, share your opinion and questions, let's discuss what's going on with ★ DOGE ;) Regards R. Linda!
Long
by RLinda
6
ZENUSDT → Bullish potential in the red market. Break of 10.0 ↑BINANCE:ZENUSDT demonstrates a rally and a retest of the range resistance in the form of a false breakdown, only that does not lead to a fall. The price is forming a pre-breakdown consolidation. With the breakout of 10.0, the growth may continue On H4, a reversal pattern is forming within the framework of which, while the cryptocurrency market was falling, zen was testing resistance. A false breakout and liquidity capture is formed. This maneuver does not lead to a fall, and the market goes into a state of consolidation, the nature of which resembles a pre-breakdown. There are no fundamentals, the market follows the flagships, which fall because of some problems. Bitcoin is dragging everyone down due to the sale of a large number of coins by Germany, and the debt repayment by Mt.Gox exchange, which has destabilized the situation in general. Resistance levels: 9.79-10.0 Support levels: 9.35, 8.8, 8.14 In this case, it is acceptable to use a breakout strategy against resistance at 9.79-9.87. But, if the structure will be broken, the price, in order to increase the volume before the growth may head towards the support. Regards R. Linda!
Long
by RLinda
8
ETHUSDT: Descending Triangle Signals Potential Bullish BreakoutAs the crypto market buzzes with anticipation, Ethereum (ETH) finds itself at a critical juncture. Currently trading at $3,468, ETH is poised on the edge of a significant technical formation that could dictate its short-term future. Let's dive into the charts and unravel the story they're telling us. The Hourly Dance: Descending Triangle in Focus Over the past 48 hours, ETHUSDT has been painting a compelling picture on the hourly chart. A descending triangle has formed, with the upper boundary at $3,480 and the lower support hovering around $3,373. This pattern, often seen as a bullish formation, has traders on the edge of their seats. The descending triangle is like a coiled spring, with price action compressing between these two levels. Each touch of the resistance and support adds tension, potentially leading to a powerful breakout. Technical Indicators: The Plot Thickens Let's add some color to our analysis with a few key technical indicators: Moving Averages: The 50-hour and 200-hour moving averages are converging, suggesting a potential golden cross on the horizon. This bullish signal could provide additional fuel for an upward move. Relative Strength Index (RSI): Currently, the RSI is floating in neutral territory, neither overbought nor oversold. This gives ETH room to move in either direction without immediate resistance from this indicator. The Bigger Picture: Daily Chart Bullish Target Zooming out to the daily chart, the outlook becomes even more exciting. A successful breakout from this descending triangle could set the stage for a significant rally. The long-term price target? A mouth-watering 10% upside from current levels. Imagine the possibilities if ETH breaks above $3,480 with conviction. We could be looking at prices north of $3,800 in the coming weeks! Market Sentiment: Regulatory Winds of Change It's not just the charts that are stirring up excitement. Recent regulatory updates have been sending ripples through the crypto space. While the specifics remain hazy, there's a growing sense that clearer regulations could pave the way for increased institutional adoption of Ethereum. This backdrop of potential regulatory clarity adds an extra layer of intrigue to our technical setup. Could positive news be the catalyst that sends ETH soaring through resistance? Trading the Triangle: Entry Points and Risk Management For those looking to ride this potential bullish wave, here are some key levels to watch: Breakout Entry: A decisive move above $3,480 could signal the start of a strong uptrend. Consider setting alerts at this level. Support Entry: For the more risk-tolerant, entries near the $3,373 support could offer an attractive risk-reward ratio. Moving Average Crossover: Keep an eye on the 50-hour and 200-hour moving averages. A bullish crossover could provide additional confirmation of upward momentum. Remember, always use proper risk management. Consider setting stop losses below the $3,373 support to protect your capital. #Ethereum #ETH #CryptoMarket #TechnicalAnalysis #DescendingTriangle #ETHUSDT #BullishFormation #GoldenCross #RSI #MovingAverages #CryptoTrading #BlockchainTechnology #CryptoRegulation #InstitutionalAdoption #BullishTarget #RiskManagement #CryptoNews #MarketSentiment #TradingStrategy #CryptoPriceTarget
by XTradeSetup
EURAUD I Wait for breakout of descending triangle Welcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
by BKTradingAcademy
6
GOLD → Correction for the purpose of elimination. Target 2400?FX:XAUUSD is forming a correction from the opening despite the bullish closing of the session on Friday. Fundamental background is calm, technical reaction to the false break of 2387. Friday's move was formed on relatively positive economic news for gold - higher unemployment in the U.S. reinforces the dollar sell-off as the chance of a possible U.S. interest rate cut rose slightly. This week traders' focus is on CPI and PPI, which will be released on Thursday and Friday. Technically, there is a buyer's presence in the market. MM, as consolidation and elimination of the buyer forms a correction to the liquidity zone 2364-2355. Possible consolidation or false breakdown before the subsequent growth. Resistance levels: 2387, 2411 Support levels: 2364, 2355 Today, at 14:00 Powell speaks, it is worth paying attention to his speech. High volatility is possible. In general, the fundamental background is favorable, technically, the bull market is forming a correction to support. Emphasis on the bulls. Regards R. Linda!
FX:XAUUSDLong
by RLinda
26
ETH: Potential Bullish Signals on the 1-Hour Chart?Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! Ethereum (ETH) is currently showing some interesting signs on the 1-hour timeframe. Let's break down what we're seeing: Possible Double Bottom: The chart suggests a pattern resembling a double bottom, which can be a bullish technical indicator. However, confirmation is needed. Descending Triangle: ETH is also forming a descending triangle pattern. This pattern can indicate a breakout in either direction, so further confirmation is required. Here's what to watch: Breakout: A clean break and close above the neckline of the descending triangle and the double bottom's resistance level would be a bullish signal, potentially leading to a price increase towards $3300 this week. Invalidation: An hourly close below $2840 would weaken the bullish case. What are your thoughts on ETH's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
1
Netflix Descending Triangle BreakoutThank you everybody for dropping in on this trade idea setup in Netflix. Bullish descending triangle continuation pattern developing here looking like it's about to burst for next week or maybe this Friday as long as the market keeps going up. I want to make sure that I'm getting into these mega cap stocks because that seems to be the only thing that's really on an uptrend and making plays that are multi day uptrends. Another stock I'm looking at is Amazon because it seems to be basing out but I want to wait a little bit until after I get into Netflix before I jump into any other trades since I have a good amount of position size already allocated in my entire portfolio.
NASDAQ:NFLXLong
by PappyTrading
XRP → Rally to 0.730 ↑ The fundamental denouement is comingBINANCE:XRPUSDT is approaching a possible decoupling, both technically and fundamentally. Positive signs of life could lead to a rally, first stop could be around 0.73. On W1, the coin is trying to live, but there is a huge fundamental reason that keeps the price from going beyond resistance and flat: The SEC v. Ripple litigation. The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority. Ripple's CEO believes that the final verdict could come at the end of the summer. Everyone is counting on a positive outcome for XRP: The court found that Ripple violated federal securities laws by making institutional sales of XRP, but dismissed other charges brought by the SEC. Ripple Labs opposed the SEC's proposal to fine the company nearly $2 billion. Ripple Labs said the court should impose a civil penalty of no more than $10 million Technically: Price continues to test the wedge resistance with the aim of breaking it, volatility decreases and consolidation continues. Below 0.4637 buyers are not letting the price in yet, which may lead to another retest of the resistance, which will only increase the chances of a breakout. Price consolidation above 0.4962 will be the root cause of market character change and possible rally to 0.6265 - 0.73. Support levels: 0.4637 Resistance levels: 0.4962, 0.5720 I expect that the buyers will still be able to break through the resistance of the bearish figure in the near future and ride the rally to the mentioned targets. Regards R. Linda!
Long
by RLinda
57
ADAUSDT → Change of character, are the bulls coming back? ↑ 0.77BINANCE:ADAUSDT forms a change of market character, and also breaks the resistance of the wedge. Regarding the reversal zone on W1 a false breakout is formed. The coin may move into the realization phase. The token is lagging behind the overall capitalization and market movement, still in the consolidation phase, the boundaries of which are 0.2392 (0.4) - 0.777. In the distribution phase, ADA has chances to recover. At the moment we should consider trading inside the range and after confirmation of the formation of an intermediate bottom above 0.4 (consolidation above this zone) the market will define a new range for itself. 0.4 - 0.77. The potential in this case will be the corridor with the width of 93%. Technically, if the bulls hold the price above 0.4, it will be a good signal for the price distribution to 0.52, further to 0.678. Support levels: 3775, 0.400 Resistance levels: 0.42, 0.522 The bearish wedge is a strong technical pattern, capable of turning the market, but in order to start the realization, the bulls need to take the defense above the key zone, in our case it is 0.400. With Respect R. Linda!
Long
by RLinda
8
UNFI → Resistance Retest. Ready for a breakthroughBINANCE:UNFIUSDT is showing positive dynamics amid the red cryptocurrency market. The coin is approaching strong resistance and we have the potential to catch a breakout with subsequent growth. On the weekly timeframe, the coin is still in consolidation (range 16.0 - 2.5). But, against the background of the general neutral trend we have a downward resistance, which is once again being retested. A pre-breakout consolidation is formed against the wedge resistance, due to which an attempt to break the line and further strengthening can be formed. An initial test of resistance may lead to a small bounce, but a quick retest will increase the chances of a breakout. Support levels: 3.281 Resistance levels: 5.716 I expect the formation of a local consolidation with a gradual push to the resistance of the wedge and further breakout. Regards R. Linda!
ULong
by RLinda
13
COTI/USDT READY TO TAKE OFF! ACCUMULATE HERE!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be much appreciated! COTI/USDT looks good in the daily chart. According to the chart, it is forming a descending triangle and holding the support of a lower trendline. Accumulate it in the green box. Entry zone:- Buy some at CMP and add more up to $0.082 Targets:- $0.12/$0.146/$0.174/$0.202/$0.238 Invalidation:- Daily close below $0.08 What are your thoughts on COTI's current price action? Share your analysis and questions in the comments below! Thanks!
Long
by CoreCrypto1
1
BITCOIN → Liquidation and retest of support. When is 74K?BINANCE:BTCUSD is not ready to pass through 71500 yet and continues the correction phase, testing local lows and liquidating buyers in order to increase the position of a major player. Consolidation is clearly visible on the higher timeframes. The resistance area of 71500 plays an important role for the market, a breakout and consolidation of the price above this area will mean that the market is ready to go higher than 74K, but, the market has not yet gathered the potential and, therefore, the consolidation continues. Bitcoin is currently in the range of 71500 - 64500. It is worth paying attention to the upward support, marking a bullish trend, and the 64500 area. The bulls will actively defend this area and if they fail, the price will head towards 61500 - 59000, 56400, but the most likely scenario is a false breakdown of 64500 followed by price strengthening to the resistance of the 71500 range. Support levels: 64500, rising line, 61500 Resistance levels: 70000, 71500 The coin continues to consolidate. Sooner or later this phase will move to the phase of realization (distribution), based on the general data it may be growth, but no one excludes dump and retest of lower liquids zones before further growth. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
67
EURUSD → Readiness for further decline. Target 1.0600FX:EURUSD is in a bearish channel. The price is below the resistance at 1.0725, there is a possibility of retesting the liquidity area before further decline. The fundamental background is weak and the actual target is 1.0606 Globally, the market is neutral-bearish. The lower boundary of the symmetrical triangle on D1 is the actual target (testing the liquidity area). Based on the general situation on H4 it is worth paying attention to such zones as: Resistance: 1.0725 (possible false breakout) Support: 1.069 (breakdown. Consolidation below will activate sell-offs). The market has a potential of about 1.10%. No news today, the fundamental and technical background is still in place. Resistance levels: 1.0725, 1.0812 Support levels: 1.069, 1.0606 On the daily timeframe, last week is closing very poorly, which most likely may hint at a possible continuation of the decline. The key target has not been reached yet, the potential is open. Regards R. Linda!
Short
by RLinda
4
ETHEREUM → Rising to 4000? Positive fundamental background...BINANCE:ETHUSDT may end the correction phase and move into the distribution phase, the target could be 4000-4800. Fundamentally, ethereum is receiving positive signals from regulators. The price is breaking the resistance of the local correction pattern. The coin is trying to go beyond the consolidation range (breaking the bearish wedge resistance). A break of the local high will be a confirmation that the correction is over and the market is ready to move on. Earlier ETH-ETF was approved, the next stage is confirmation of S-1 form (admission to trading), SEC is actively working with issuers, trading may start this summer. Also, a positive sign of a strong market is the end of the SEC's judicial investigation against ConsenSys (Ethereum developer). Volumes are rising and like the price, traders are taking this fact positively. Resistance levels: 3650, 3730 Support levels: 3585, 3480, 3400 The price consolidation above 3650-3730 will confirm the end of the correction. Bulls in this case can take the situation into their own hands after a long accumulation, the target of which may be a test of high, as well as ath. Regards R. Linda!
Long
by RLinda
4