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Descending Triangle

BTCUSD We're hitting the bottom today $34.5K 2021-06-07 4:41pmHello, here is my TA for BTC today. I think that since we didn't break the resistance at $35700K today, we're going back down to $34500K. The angles seem to confirm today will be the day it touches the base of the triangle. Which is good news if the trend continues, especially given the bullishness of ETH right now which will provide a much needed to push to BTC to breakout the descending triangle upwards. But can also be very bad news if the base of the triangle is passed. In that case we're back in big bears territories. Hopefully I'm right. About it going bull not bear lol.
COINBASE:BTCUSD
by v82pr29ssu
Ethereum ETHUSDT - Ascending triangle + Breaking out!- Ethereum is forming an ascending triangle, which is generally a bullish sign! - Also, the price is above the trendline. - Out target can be below the all time high level . - ABC correction should be over. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓ - If you want to see more of these ideas, hit "Like" & "Follow"! - ETHBTC pair looks also very strong.
Long
by UnknownUnicorn2537518
15
🔥Ethereum is on Ascending Triangle(Bear Market) 🔥(Road map)🧐Today, I decided to publish a Road map for Ethereum . First, I have to say again sorry (This post is like with post that I published ''🔥 Bitcoin is on Contracting Triangle 🔥 (Road map)🧐'' ) for the busy chart ( ETHUSDT ), but my chart needed these lines. Please spend a few minutes on it.🙏 Location: ETH is on Main wave 4 ( Zig zag 5-3-5 ) for about 25 days (From 4372$ until LIVE price) and I think that Main wave 4 will take more time from us (maybe more than one month , just a prediction ). My idea : ETH was able to pass the Microwave A (It had 5 microwave) of the Main wave 4 at 1866$ . Now, ETH is running on Ascending Triangle ( Bear Market shape ). I was able to find the 3 main points of the triangle A-B-C ( Ascending Triangle ). For finding Point D , we have to concentrate on Descending Triangle for Bull Market OR Barrier Triangle . (In the following, I will explain the reason for the word ''OR''). I think that Point D can be around 2552 $ == Near the Lower line of our Triangles. I have three Scenario : Scenario 1 : when the price arrives to Point D , it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave B of the Main wave 4 was at Point C + microwave C of the Main wave 4 has started === Triangle that I spoke about it for finding Point D will be Barrier Triangle . Scenario 2 : when the price arrives to Point D , then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market ) on this way). Point E can be a Critical Point for us (It is the end of microwave B of Main wave 4 ), better, I had to say that market will decide to go UP or DOWN ( UP will make my Scenario 3 // DOWN will make my Scenario 2 ). If the price goes DOWN at Point E , we can say that microwave C of Main wave 4 has started == Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) . Scenario 3 : when the price arrives to Point D , then the price goes up until Point E (Price will break our Descending Triangle (for Bull Market ) on this way). Point E can be a Critical Point for us(It is the end of microwave B of Main wave 4 ), better, I had to say that market will decide to go UP or DOWN ( UP will make my Scenario 3 // DOWN will make my Scenario 2 ). If the price goes UP at Point E , we can say that BTC will go UP by 5 new impulsive waves == Triangle that I spoke about it for finding Point D will be Descending Triangle (for Bull Market) . Also, I have to say that Microwave C can not go down less than 1406 $ == Elliott's rules will be violated ( Wave 4 and Wave 1 can no t have overlap ). Resistance zones on Ethereum's way : Resistance zone 1 : 2900$ until 2935$ ( The upper line of Ascending Triangle + Monthly Pivot Point ) == Heavy Resistance Resistance zone 2 : 2814$ until 2837$ ( 38.2% Fibonacci microwave A of Main wave 4 + Weekly R1+ 88.6% Fibonacci (Point A) until (PointB) ) == Light Resistance Support zones on Ethereum's way : Support zone 1 : 2264$ until 2180$ ( 88.6% Fibonacci (Point B) until (PointC)+ 61.8% Fibonacci (Point A) until (PointB) + support (major pivot) ) == Medium Support Support zone 2 : 1900$ until 1865$ ( support (major pivots) ) == Heavy Support My Suggestion : please DO NOT buy Coins for Midterm and Long-term investment until the market finds a way . 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 on this post. Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe. Good luck
by pejman_zwin
20
EPS/USDT Descending triangle. Opportunity to recoverCurrently we are within a descending triangle between the green and yellow lines. What keeps us optimistic is the fact that we see only see strong volume increase in case we are moving upwards. This indicates that buyer don't sell again. You can stake EPS or USDT/BUSDT/USDC on the official website. Basic rules: - Never buy the top/ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Yellow lines are for visual help only. Boxes: - Either entry zone or support zone. Check the description.
E
by tumbler55
BTC Descending Triangle Upside Breakout - Reversal FormingWe have finally break above the descending triangle with BTC. Descending triangles can act as a continuation patterns or as a reversal patterns. In this case it is starting to look as a reversal one. It is the first solid sign that we may still set new ATH which should be slightly above the one set in April. I am expecting 70-85k at max for this cycle. We however still have to break above 0.702 fib. retracement level in a short to medium time frame. I am not a financial advisor so non of this should be taken as a financial advise. BITSTAMP:BTCUSD
BITSTAMP:BTCUSD
by CR35
A trading idea on PLUG!If you believe the Nasdaq is going to hit ATH next, PLUG is one of the stocks that can outperform the index (or underperform if it drops). Either way, it is a fact that we have a descending triangle here, the bottom is at 29.81 and it seems it is trying to break the upper line. The RSI has an advanced breakout that could work for us. The problem is the RSI in the 4h chart, that is still a little overbought (not much, but enough to make me wonder if it can keep going up). If PLUG loses the bottom of the triangle, then the bullish idea will be ruined, at least temporarily. But it can fil the gap at 32.13 if it triggers the pattern in the 30min chart. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NASDAQ:PLUG
by UnknownUnicorn21312077
2
Divergent Technical analysisCurrently the BTC following s strong downtrend in May, but this downtrend is currently hitting a good support at around 31500, which was already good support in Jan 2021. This two trendline forming a descending triangle, which is usually a bearish pattern. At the time know we are trading at the upper edge of the triangle. A break-out could happen, by in my oppinion very unlikely. If its happen it could be impulsive. If we closing a 4h candle be 31500 and get rejected afterwards again at the same limit. This will be the signal for a rapid downtrend. From the baseline of the traingle technical traget will be below 20k. But there also some technical fib levels at 23k an 20k, which can give some support. Additionally, it should be mentioned that the volume indicators how less trading acivities in the range of 20-30k. If this negativ break-out happen, this could be impulsive. Keep your eyes open and keep attention to this tow trendlines.
Short
by MichiBTC2021
1