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Descending Triangle

Bitcoin Not Done Yet?Unless you live under a rock, you witnessed Bitcoin close out its weekly candle with a bang by running all the way just shy of $40000. Now as of this second we find ourselves in the midst of another breakout as the crypto has broken above my second .236 fib level (discussed in an earlier idea) AND broken above the .786 fib of a smaller yet still significant retracement. This .786 ($38655) is the level we find ourselves now and if it holds it could prove significant as $40k would easily be smashed and a retest of the 41k swing high could be well in the cards. The .786 fib is a major level in the fact that normally traders take profit at this area and reversals back to the downside often occur. But so far on this early Monday trading session bulls are proving their strength and are attempting to hold this level. It is also noteable that on micro timeframes we painted a bearish descending triangle at critical resistance yet the bulls STILL managed to break bullish out of it. Keep in mind that it still has not confirmed but it is still worth keeping on your radar as sizing up a possible trade is manageable now since we now have tentative support just below where we are. So a long could be entered here for example now that we know where to put stop losses. Lastly, beware of a failed breakout due to this being a very small timescale and bullish breakouts of bearish patterns can often trap bulls and reverse aggressively to the downside. Again, PLEASE USE STOP LOSSES or alerts.
Long
by TradeVibez
Will Bitcoin Continue to Drop?Is it safe to buy bitcoin today, These is question we always get from friends looking out to ride the bitcoin train. Question is, Will bitcoin price continue drop? That we will to find out in this video and we will try to compare current price action to the historical dips of bitcoin. At a quick glance, bitcoin doesn’t look good as we see in this line chart, it forms a bearish head and shoulders. This is validated in the 4 Hour Chart where we see bitcoin forming a bearish descending triangle which could potential push bitcoin price down to its 19K 2017 peak. A strong bounce is expected at that level as we are expected to form hidden bullish divergence at the weekly chart. Let me know what you think.
BITSTAMP:BTCUSDShort
by SeerSignals
Do you have a Buy Order Ready below $1One thing is common between bulls and bears interpreting ADA chart which is, almost all are drawing the famous descending triangle pattern on the charts. So, I totally agree with this interpretation too. But the narratives are polar opposite between the two camps. I am holding ADA and have been dollar cost averaging over a period now. Pattern breakouts are not always perfect - either a bull or bear case can happen. On the bullish side, we can see a prior inverse head & shoulder pattern formation and current price is above the 1.15 support level. It is also possible to see bullish momentum to continue and see breakout to the upside. On the bearish angle, the current price is retreating towards 1.15 support and there is a chance ADA could retest the $1 physiological level. This level is extremely nearby and it ($1.00) has been a strong support for over 150 days. It is quite likely for market makers or whales to exploit this level to their benefit and create huge volatility there. As a bull, be prepared when such bearish case appears and be ready to act. Have your orders ready when we get into such situation.
CAPITALCOM:ADAUSD
by raamraj
Eth looks like a shortPrice has moved up for the last couple of days and with what I see I have put a short on and will be planning to take profit on this descending triangle structure. The main chart goes over a lot but lets expound At the left of the chart the Keltner Channel bottom acted primarily as support and price often went above the the Keltner channel and moved the bollinger band upward for months. There was topping behavior in May and we now have what I see is a clear descending triangle. The price action was closing whole candles below the Keltner. On the run up there are candle with bodies below the candle, but they had some structure in the Keltner. Whole candles below the Keltner signals a lot of selling pressure. Price action has dropped from the resistance of the triangle to the support when there where bearish K-D crosses. The middle red circle did require a double cross as the topping behavior went on a bit longer. This last and current black circle and red arrow may also require a double K-D cross. As I assess this, it is a high probability short due to the overall structure and time it has to develop as well at being at the Keltner when it has begun to act as resistance. On a lower time frame at the blue arrow I see lots of signs that ETH was topping here. Lots of wicks to the up and downside and the bodies getting very tight and then a clear red candle with no upside wick. The standard 4 hour candles show we had a symmetrical triangle structure that broke down after a MACD cross. This can still chop side ways or even up a little but there is a lot of bearish divergence on the 4 hour chart with the RSI. Between the daily descending triangle and that 4 hour MACD cross I see a high probability that we go down shortly. Stocks can get relatively tight.
Short
by This_Guhy
5
Big Warning!!! Ethereum could to crash 40%Ethereum forming a descending triangle, and that put in risk that Ethereum may to crash the vaue if cryptocurrencies doesn't make support in their key support zones. My perspective in Ethereum it's becoming more bearish as the same with Cardano. If that happen in Ethereum, Cardano may to crash too. But in Daily timeframe, Cardano forming a bullish riisng wedge, the best perspective it's to check out the market in weekly or monthly timeframe to know where Cardano leading for.
COINBASE:ETHUSDShort
by harisonhbn9718
4
BTC Business End of Descending TriangleContinuation of previous chart (see BTC Calm Before the Storm as linked below). Survived and bounced strongly out of dump to $29k. Pushing out of "fake breakout" trendline. Additional push out of dotted blue line trendline just above (boss fakeout parallel to triangle upper boundary) would serve as a proper breakout IMHO. Wouldn't be surprised by (another) last gasp spike dump prior to pushing up and out. MACD continuing to rollover on 3D through Weekly timeframes towards the upside. Volume still light, keeping a close eye over next couple weeks. Date and and price range indicators from similar section of 2017 cycle included as reference. Not financial advice!
BITSTAMP:BTCUSDLong
by SBL2022
Bitcoin Analyze (Counting Waves + Descending Channels)!!!Hi, yesterday we saw a pump, maybe one of the reasons was interview Cathie Wood ⚔️ Jack Dorsey ⚔️ Elon Musk ⚔️ Steve Lee, But I want to work with Technical Analysis , not Funmanetal right now 😊 Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰ Location🌊 : I think that I was able to find the end of microwave 4 of the main Wave C at 36600$ === if you want to know how did I do?! please read my post with the topic ''bitcoin Analyze (Triple Three Corrections) !!!'' + ''Bitcoin Analyze (Two Descending Triangle )!!!'' . Live Location : Bitcoin is playing on microwave 5 of main wave C (End of Corrective Structure ) on Descending Channel 1 . If I want to explain more about where is Bitcoin now? I can say, Bitcoin is on microwave 4 of microwave 3 of microwave 5 of main wave C 😊 ( Microwave 3 of microwave 5 is Extended ). Also, I used Fib Tools + Pivot Points for finding End of microwave 4 of microwave 3 of microwave 5 of main wave C .in In addition, I think that we can find the end of microwave 4 at TRZ + Resistance Zone ( 32620$ until 32430$ ) + Bitcoin is on top of Descending Channels 3 & 4 , but I think Bitcoin will run between Resistance Zone ( 32620$ until 32430$ ) and Support Zone 1 (31340 until 31230$) and then on TRZ , we can see main Dump or better I had to say; we can find another major pivot on the chart ( Timeframe 4h ⏰). Also, I have to say that Microwave 4 can NOT go UP more than Support Zone 1 ( 31340 until 31230$ ) == Elliott's rules will be violated ( Wave 4 and Wave 1 can not have overlap ). Support and Resistance Zones on Bitcoin's way (Short term): Support Zone 1 : 31340$ until 31230$ ( Fib Zone + Support + Weekly Pivot Point ) Support Zone 2 : 31980$ until 31880$ ( Fib Zone + Support ) Resistance Zone : 32430$ until 32620$ ( Fib Zone + Resistance ) MACD (Timeframe 4h ⏰): We have Hidden Divergence ( HD+ ) between MACD and Price , Until Now.👉https://www.tradingview.com/x/gQUwFeRI/ RSI (Timeframe Daily ⏰): RSI was able to break our Descending Channel but I don't think that It can continue this way, maybe again RSI will back to the channel, and even it can make Descending Triangle , Please FOLLOW my lines on my RSI chart.👉https://www.tradingview.com/x/GBEJceMK/ ADX (Timeframe Daily ⏰) = 26.5 >20 or 25 ( -DI Line over +DI Line ) == means still, we are on Bearish Market 👉https://www.tradingview.com/x/VhgzhtqJ/ My Suggestion : please do NOT buy Coins for Midterm and Long-term investment until the market finds a way. // if the price goes UP over the Monthly pivot point ( 35060$ ), then we can think about buying coins// in addition, you can find triggers for opening Short Position ( Short term ). Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅ ' like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe.
Short
by pejman_zwin
35
BTC analysis 21 July 2021Looking at the chart on the top, we have a bigger picture with confirmation of where we at right now. The top and bottom resistance and support are clearly layed out on chart. We have a side way channel with multiple confirmation including the low 29200 yesterday that works as further confirmation of the resistance and support. So where are we possibly heading? and what are the cases that are in play? Taking a closer look on the 4h level at the bottom chart, we have triple support lines ranging between 31 000USD - 29 000USD. Let us break it down and look at some possibilities. We pattern that is playing now is a descending triangle. We might be in the wave D unless the triangle is broken upwards. Case 1 (Bullish) - we break the triangle upwards on this wave C attempt and we have a short-med term bullishness. Case 2 (Neutral) - we dump again to the 30 000USD - 29 000USD level again for a retest and bounce back up for the E. In this case, the price will tell us whether we break this E resistance or we dump back down again. This is a good swing opportunity. Case 3 (Bearish) - We dump down to 29 000USD on this D wave coming down and we break it this time to 24 000USD. I am currently in a short position unless the triangle is broken upwards. I will rebuy at a retest in this case. Or at wave D bottom. Kind regards LZ
by lucian136
Bitcoin Analyze (Where is the End of Correction)!!!Hi, today I want to find the End of Bitcoin's Correction , Let's go. Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰ Location🌊 : I think that I was able to find the end of microwave 4 of the main Wave C at 36600$ === if you want to know how did I do?! please read my post with the topic ''bitcoin Analyze (Triple Three Corrections) !!!'' + ''Bitcoin Analyze (Two Descending Triangle)!!!' ' . Live Location: Bitcoin is playing on microwave 5 of main wave C (End of Corrective Structure) on Descending Channel . If I want to explain more about where is Bitcoin now? I can say, Bitcoin is on microwave 3 of microwave 3 of microwave 5 of main wave C 😊 (Microwave 3 of microwave 5 is Extended ). Also, I used Fib Wedge Tool for finding End of microwaves (When the price is arriving in Fib Wedge's lines, we can see pivots or end of microwaves).in addition, I think that we can find the end of microwave 3 of microwave 5 of the main wave C at TRZ + Support Zone . Support Zone : 30500$ - 30000$ ( Support lines +Fib Cluster ). At least, The end of wave C (End of Corrective Structure ) can be around = around 26400$ . My Suggestion: please do NOT buy Coins for Midterm and Long-term investment until the market finds a way. // if the price goes UP over the Monthly pivot point ( 35060$ ), then we can think about buying coins or we can find triggers on support zone for buying Bitcoin around 26400$ - around 24500$ - even 22000$ until 23000$ (let's see what will happen ). Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe.
by pejman_zwin
31
Bitcoin's Descending Triangle Target: $24K (Mind The Gap)Bitcoin's imperfect descending triangle currently targeting a measured move to $24K volume support zone. The $20K level of VPVR strong support also lines up with the logarithmic growth support trend-line. Short term looks bearish, long-term looks like a buy the dip opportunity before 6 figures. Never underestimate the accuracy of Bitcoin's descending triangle measured move targets, if the breakdown is confirmed: For alternative broadening wedge theory and bullish buy the dip scenario, see here:
COINBASE:BTCUSD
by dragononcrypto
Uniswap(UNI) big chance that will drop 50% if break this SupportPurple Line = Weekly Support Red Line = Daily Support Orange Line = 4 Hour Chart Support Yellow Line = 1 Hour Chart Support UniSwap (UNI) is on the way that break Weekly Support level, if that happen UNI has only Daily, 4 Hour and 1 Hour Support Level as obstacle and if we see Daily, 4 Hour or even 1 Hour Bearish candlestick which close bellow yellow line We can expect that price will drop from $14 to next Daily Support Zone on $7 because downtrend is confirm by Daily Descending Triangle too. If this help you with your trading Please Like, Share and Follow that give me motivation to make another Trading Ideas If you have some suggestion, comment or other opinion feel free to write it in comment Wish you succesfull and consistent trading with profits!
COINBASE:UNIUSDShort
by ArmaTrader97