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Descending Triangle

Ethereum ETHUSD - Road to 25 000 USD! + Parallel channel- Ethereum looks very strong from the technical perspective on the weekly time frame. - The price is above the ALL TIME HIGH from 2018, which is very bullish of course. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓ - Also the price is above 0.236 fib, 20 weekly moving average and the blue ascending channel! - The ascending channel fits absolutely to the dollar! - Next target is 1:1 fib extension! - RSI is ready for the another pump to the upside very soon. - If you want to see more of these ideas, hit "Like" & "Follow"!
BITSTAMP:ETHUSDLong
by UnknownUnicorn2537518
13
HMMM.. Will we see a strong correction?Right now GOLD is making a descending triangle pattern... This pattern usually lead to a break to the downside... Letss see how GOLD will act in the coming weeks and months... I am suspecting it will fall as I believe that we are still in the bullish cycle in coming years.. But if not, then we can confirm that $1700 ish is the bottom. When we are in a bullish or economic growth, investors and retailers usually will leave safe assets and go into a rather risky assets to generate higher return... Assets such as stocks and cryptos would be able to perform really2 well if we are still indeed in the bull cycle.. My analysis predict that GOLD could go back to $1300 - $1450-ish if there's indeed a strong movement to the downside as investors and retailer leaving GOLD for other assets. But as always, not financial advice... #NotFinancialAdvice
TVC:GOLDShort
by ZombieGod11
BTC - Will history repeat itself for a 3rd time?The big question is..... will history repeat itself for a 3rd time? If we look at the BTC Daily Chart, at the moment, it looks like BTC is in a massive Descending Triangle, its apex is around October - Dec 2022. For those that don’t know, a Descending Triangle is a Bearish Chart Pattern. BTC needs to CLOSE back ABOVE its Descending Trend-line! If BTC cannot manage this, then BTC will continue to create Lower Highs pushing the price closer to the Horizontal Support Line that is the Base of the Descending Triangle. As we have seen twice before, a break below the Base of the Descending Triangle leads to around a 47% drop for BTC. Now, I am not saying that this is going to happen, but what i am saying is that i know what BTC needs to do to keep it from happening a 3rd time……. which is a successful CLOSE ABOVE the Descending Trend-line, and then the price needs to stay ABOVE it and continue making Higher Highs and Higher Lows. It’s as simple as that. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
6
ALGO/USDT : Breaking out the trendline ! BINANCE:ALGOUSDT Hello everyone 😃 #ALGO has formed a descending triangle, The movement is marking to be bearish by the current bearish trendline. But there is an attempt to break above the trendline, Also after any correction to FIB's level; EMAs will support the movement and it should pullback from that points.. Have to mention that Volatility is being bullish too ! So there will be two bullish scenarios : - Break above the trendline at current point and volatility cause another bounce by the bullish crossover - Retest on lower EMAs and pullback from the support zones which has been merged with FIB's levels. 📚 Targets are mentioned on the chart, Potential +70% growth after a correction on FIB's levels ! 🔴 We might face more FUD news as #BTC is approaching the 50K's resistance again, So manage your risks and don't engage more than 4% of your portfolio on ALTs. Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
23
ADAUSD Sending Mixed SignalsImportant things to note: BTC ran while ADA remains stagnate. ADA has bullish divergence on RSI. Flagging pattern broke to downside, produced small bump in price. Small descending triangle. Test of 50MA will determine if it moves higher or gets shot back down. Next test will be resistance 2.78. A lot of accumulation at support. If prices go lower, likely to test 50MA sitting at about 2.19, this can produce a strong bounce. If price breaks 50MA on the daily, 2.0 is the next stop. My targets remain the same as of now. Important Dates to Take Note of: ADA Summit Sep 25-26 2021 (likely to produce more important dates) So, BTC has ran and the 3 drives pattern seemed to hold up in that case. Now if we look at ADA we can see bullish and bearish signals. First we have bullish divergence on the RSI. We also had a break in the flagging pattern to the downside which produced a small bump in price instead of hitting the price floor. However, ADA will test the moving averages all the way up. If it passes the test, it is likely to move higher and test the resistance level at 2.78. If the price moves lower, and breaks the small descending triangle to the downside, it will have to test the 50MA at 2.19 which could produce a significant bump in price. That is really all we see right now. If the 50MA on the daily fails, we will see 2.0 and take it from there. We have mixed signals right now, but I am not too worried about it, my targets are still the same at the moment. We will see what happens with each signal until we have some form of confirmation. Again, I do not subscribe to the doomsday scenarios you hear everyday. In the case of BTC at the moment, it will need to stay above 48 to take the drop to 38 out of the picture completely in my opinion. We will know soon. That is why it is important to take it step by step and trust in what you see. All of my targets are backed up by patterns, signals and trend analysis. I use a very traditional approach, that is just how I trade, personally. We will see where it goes from here, but unless I see anything that says otherwise, you all know what to expect. I will continue to keep an eye on ADA and update accordingly. Thanks again everyone for being patient while I am busy studying over here and producing these charts rather quickly! I appreciate it a lot. Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSD
by mysticalwalrus
47
Litecoin LTCUSD - 10 000 USD this cycle + Ascending triangle- If we take a look at the chart, we can definitely spot an ascending triangle . - We have very important double top resistance right at the ALL TIME HIGH level. - Litecoin (rank 16) is prepared for a huge pump! - We need litecoin, because bitcoin transactions are very expensive. - That's why everybody uses litecoin at this moment. (Paypal, ATM machines etc..) - RSI is prepared for a next pump! -1.1618 FIB = 10 000 USD Profit target. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓ - If you want to see more of these ideas, hit "Like" & "Follow"!
COINBASE:LTCUSDLong
by UnknownUnicorn2537518
22
Cardano ADAUSD - Rounding Bottom! + Elliott Wave +1000% gains- Cardano is currently breaking out to new ALL TIME HIGHS! - On the chart we can spot a Symmetrical triangle - The price is creating higher lows and lower highs. - Also, the price is above the ALL TIME HIGH level from 2018, which is very bullish . - We will experience an acceleration to the upside in a few days! - Profit target is 0.618 FIB extension, which is around 30 USD - 1000%. - Cardano made a huge rounding bottom or cup and handle on the weekly time frame. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓ - Due to my Elliott wave count, we are currently at the 5th impulse elliott wave! - If you want to see more of these ideas, hit "Like" & "Follow"!
KRAKEN:ADAUSDLong
by UnknownUnicorn2537518
27
BTC/USDT: Bearish Descending Triangle (Short Term)Got a beautiful descending triangle getting drawn on the 1hr chart. These typically break out bearish. This is very bullish in the mid-long term. 1. Nicely resets the MACD & RSI on the 4hr. 2. Lines up perfectly with previous support/resistance when drawing the price target. 3. Should bounce perfectly on the bottom of the channel, great long opportunity if we can hold the bottom of that channel (drawn based on the current rally starting in July). 4. Gives us an awesome buying opportunity for the next rally to the upside. Let me know your thoughts below :)
Short
by erctrades
2