Get started

Descending Triangle

Bitcoin - Ready to reach 30k! (watch this trendline) Bitcoin is bullish and is ready to reach 29167 in the next few days or at the start of October. Of course, 30k will follow, but 29k is a strong resistance, and we should see a pullback from it! Watch this yellow trendline, which is a gateway to the ultra-huge bull market. Once it breaks, I expect a massive uptrend, but be aware of a possible retest first. Your stop-loss needs to be safe! So why is the 29167 level of resistance strong? We have the 0.618 Fibonacci retracement of the previous downtrend, and we also have a point of control on the volume profile. What's more, it's the start of the fair value gap. I am definitely expecting a pullback from it! It's always important to do an Elliott Wave analysis because it gives us an outlook on the overall trend and market structure. In the downtrend from 31k to 25k, I see a complex correction—the triple-three pattern WXYXZ. This is a corrective move and shows a lot of weakness. That's why I am bullish! 26k is still a good price for Bitcoin to buy in the long term because I expect 120k in 2025. Why 125? Check out my profile or my previous analyses! It's also important to watch altcoins and how they are doing because it gives us another good indicator for Bitcoin. Of course, altcoins such as ETH, XRP, and DOGE are bullish. This was a quick update on the local price of Bitcoin. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
162
PEOPLEUSDT → A break of resistance opens up the new range BINANCE:PEOPLEUSDT forms a local bottom, breaks the resistance of the descending wedge and one of the key levels within the realization of consolidation. A new corridor is opened As BINANCE:BTCUSD tests a local high near 26800, an altcoin reaction is forming. Even though the SEC has postponed the adoption of BTC-ETF indefinitely, the market is getting a small influx of assets. Our attention is drawn to PEOPLE. The price breaks the wedge resistance and continues to form a consolidation in a weak market. Finally, the coin breaks through the key, for now, level of 0.01022. Consolidation of the price above the level will form a bullish potential, which my move into the phase of realization and within the medium-term perspective PEOPLE / TetherUS can reach 0.01433 and 0.0185. Altcoins have been strongly consolidating their energy lately, something may happen soon. Support levels: 0.01022, 0.00846 Resistance levels: 0.01433 I expect the price growth to continue after consolidation above 0.01022 level. Regards R. Linda!
Long
by RLinda
17
NZDUSD → Waiting for the bearish scenario to materialize FX:NZDUSD forms a breakout of the descending channel resistance and forms a symmetrical triangle. Breaking the resistance of the pattern could give a strong impulse, but amid the strengthening of the TVC:DXY there is little chance for that. The dollar continues to strengthen towards 107.5, as I mentioned earlier in my ideas. Against this background, the NZDUSD currency pair could realize the bearish side of the "symmetrical triangle" set-up. In this case, the price may break the support of the pattern (0.5902 level) in the near future and head towards the areas marked below. Globally we have a downtrend and lack of growth attempts. In technical analysis there is a "flag" setup - a figure that portends the continuation of the trend. This is exactly what I am expecting when the support area is broken. It is most likely, based on fundamental and technical factors, that the currency pair will continue its decline. Support levels: 0.5924, 0.5902 Resistance levels: upper boundary of the figure, 0.5990. In the long term, I expect a break of support with a subsequent fall in the trend towards 0.5750. Regards R. Linda!
Short
by RLinda
16
KNCUSDT → Coin shows strength in a weak market BINANCE:KNCUSDT stops its decline in late 2022 at 0.495-0.500, thus forming a bottom. The market holds this area quite confidently. And at some point, on the background of weak BINANCE:BTCUSD , KNC forms a resistance breakout, which could be the first bell On the chart we can compare the behavior of the last few days of BTC and KNC. The second one feels confident and is ready to strengthen further. While BTC has been in a falling phase for the last 7 days, Kyber network / TetherUs is strengthening already by 28%. Altcoins have been receiving more attention from speculators lately as they are livelier and more active. The latest retest of the 0.495 bottom on September 12 leads to the formation of a bullish momentum, within which the price makes an attempt to exit the descending range. After the breakout and correction, consolidation is formed above the resistance. If the bulls can finally keep the price above this line, we will be able not only to observe, but also to participate in the price growth to the targets indicated on the chart. The area above 0.955 is quite loose and price could quickly reach 1.200-1.400, but for this to happen we need to get momentum from the previously broken resistance. Support levels: 0.630, MA200, MA50 Resistance levels: 0.710, 0.834 I expect an active phase from the bulls' side. The first phase is consolidation. After which I will wait for growth to the mentioned areas. Regards R. Linda!
Long
by RLinda
17
EURUSD → The calm before the storm. Breakthrough ↑ or ↓FX:EURUSD continues to form a downtrend. At the moment we see a rebound from resistance and a retest of support at 1.06350, which ends with a slight strengthening of the currency pair EURUSD is waiting for a reaction from the US market, namely we are all watching the dollar index. It forms a retest of the strong resistance at 105.00 and forms a rather strong consolidation. If the price breaks the resistance, a very strong bullish impulse will be formed, which will affect the whole forex market. But there is a small chance that the 105.0 area will not let the price in and a correction will form, in which case EURUSD may break the trend resistance and form a shakeout to 1.0835. In priority, I expect a retest of 1.06350 followed by a breakout and a decline to 1.05000 Support levels: 1.06350 Resistance levels: 1.0685, 1.0765 The currency pair may break the line on the next support retest. We should be ready for the resistance breakout as well. Watch the reaction of TVC:DXY to the mentioned resistance area. Regards R. Linda!
Short
by RLinda
16
GBPUSD → UK bear market set to weaken further FX:GBPUSD enters a new range amid a global reversal pattern, as evidenced by the breakout of a strong liquidity area and the 200-day moving average At this stage it is difficult to talk about the strengthening of the price. The currency pair overcomes the mark of 1.24500-1.24000 and enters a new medium-term range, within which the pound can reach 1.20000. This movement can only be broken by strong fundamentals, such as the FOMC & FED press release today at 18:00 GMT . There is not much chance as the CPI (YoY) GBP showed a 0.1 point decline in the index and 0.3 points decline against expectations. The market is weak. From the technical analysis point of view, a small correction may now follow before a further break of 1.23725 and 1.23000 support and further decline to stronger support areas - these could be 1.22500, 1.22000 and 1.20100 area Resistance levels: 1.2458 Support levels: 1.23725, 1.2309 The market gives us medium-term preconditions for further decline, the fundamental factor of GBP market is now on the side of bears, it is necessary to wait for data from FOMC FX:GBPUSD TVC:DXY TVC:BXY Regards R. Linda!
Short
by RLinda
17
BTC: QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. As you see in the chart, BTC is forming a descending triangle pattern in the daily time frame which is generally a bearish pattern. Currently, it is hovering inside the triangle. We might see another test of the upper trendline and also might see some deviation above the trendline and after that price starts falling. Once it breaks down the triangle ( FWB:25K support) then we will see a big dump. What do you think about this? Share your views in the comment section. If you like this idea then do support it with your likes and comments. Thanks!
Short
by CoreCrypto1
4
Descending Triangle on EUR/CHF @ D1A descending triangle pattern has formed on the daily chart of the EUR/CHF pair. It can be used for a bearish breakout setup. The triangle's borders are marked with the yellow lines. The cyan line is where my potential entry level will be. It is located at 10% of the pattern's height below the lower border. The green line denotes my take-profit level. It is set to the 100% of the pattern height plotted below the lower border. I will set the stop-loss level to the triangle's highest point (0.96926) - the red price marker. I will ignore bullish breakouts from this trend continuation pattern.
Short
by AndriyMoraru
GOLD → Negative fundamental background. Shakeout OANDA:XAUUSD surprised many people yesterday, but not us. On the background of the previous days analysis (technical + fundamental) we had an idea about further actions on the market In brief: Powell left the rate unchanged, but there were a lot of words that if the market remains aggressive, they will apply appropriate measures. And considering the fact that based on all the FOMC & FED actions against inflation, it is only getting stronger, the market can be considered aggressive, hence, the fundamental backdrop for gold is still negative, as the TVC:DXY will continue to rise. In terms of technical analysis, gold is forming a false breakout of the following liquidity zones: 1928, 1935, 19466 at the moment Powell's speech ends and the market actively sells off the entire rise. On D1 the price again forms a false breakout of trend resistance, preparing the market for further decline. A retest of MA-200 on H1 with a subsequent breakout and decline to 1915 - 1900 may be formed soon Support levels: 1922, 1915, 1902 Resistance levels: 1928 I expect a possible retest of the nearest resistance areas before a further fall against the negative fundamental background and the current bearish trend OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY TVC:BXY CAPITALCOM:SILVER OANDA:XAGUSD COMEX:SI1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
AAVEUSDT → Breakout of descending triangle resistance BINANCE:AAVEUSDT is forming a breakout of the descending triangle resistance. Buyers are confidently holding the bottom, keeping the price below 55.00, but at the same time testing a trend change attempt AAVE follows BINANCE:BTCUSD . A momentum and a small pullback is forming. This is partly a bad thing. Until bitcoin gets momentum and a breakout of local resistance, the pegged coin will also stand still. If the market doesn't acquire a buyer while the coin consolidates above the broken resistance, the flat formation will continue. Bitcoin is strengthening as it receives fundamentally positive data, mostly related to ETFs. From a technical analysis perspective, AAVE has good upside potential. A prolonged consolidation for 15 months is forming and the price moving beyond resistance is signaling possible upside. The price is testing the MA-200, if the moving average is broken, there will be a chance for growth to 91.3 Support levels: previously broken resistance, MA50, 55.2. Resistance levels: MA-200, 69.56. I expect consolidation above the previously broken trend line with subsequent retest and breakout through MA-200. Regards R. Linda!
Long
by RLinda
16
💱GBPJPY - The counter-trend correction may end soon GBPJPY is in the correction phase amid the global uptrend. The Central Bank may stop raising rates, which will predictably affect the pricing of the pound. A wedge is forming within the correction, which is an interesting set-up against the backdrop of the GBPJPY currency pair TA on the high timeframe: 1) The Japanese Yen may continue its weakening. In this case, the pound, on its background will begin to actively strengthen 2) Within the wedge and against the background of the indicator on the D1 chart, we see the formation of consolidation (wedge against the background of the uptrend). In the future, the growth of the currency pair may continue TA on the low timeframe: 1) We have an actual descending channel. Consolidation is formed in the range between 183.4 - 182.7. 2) A descending wedge is also forming on the chart. Statistically, in this case, most often the price breaks the resistance figure to end the counter-trend correction 3) We are waiting for a breakout of the triangle resistance with subsequent growth. 4) But the consolidation of the price below 182.7 will be a signal for selling. Key support📉: 182.7 Key resistance📈: 183.5
Long
by Gold-Tech
10
The Descending Channel Pattern 📈🐂Understanding the Descending Channel Pattern: The descending channel pattern is a price pattern that forms on a chart over an extended period. It consists of two parallel trendlines: an upper trendline that connects the lower highs and a lower trendline that connects the lower lows. These trendlines create a descending channel that slopes downward. Key Characteristics of the Descending Channel Pattern: Slope: The channel slopes downward, indicating a gradual decline in price over time. Support and Resistance: The lower trendline serves as support, and the upper trendline acts as resistance. Prices typically move within this channel. Duration: Descending channels can persist for weeks, months, or even longer, making them suitable for long-term trading strategies. Trading the Descending Channel Pattern: Here's how you can effectively trade the descending channel pattern in Bitcoin: Identify the Pattern: Begin by identifying a clear descending channel on the Bitcoin chart. Look for multiple touches on the upper and lower trendlines. Entry Point: Consider entering a long (buy) position when the price approaches the lower trendline, which acts as strong support. This is often an optimal entry point. Stop-loss: Place a stop-loss order below the lower trendline to manage risk. If the price breaks below this support, it could signal a trend reversal. Take Profits: Set your take-profit levels near the upper trendline, which acts as resistance. This is where you can consider selling your position to lock in gains. Confirmation: Look for additional confirmation factors, such as positive news developments, strong trading volume, or bullish indicators, to increase your confidence in the trade.
Long
by Yaroslav_Krasko
GOLD → Breakout of global trend resistance OANDA:XAUUSD reverses. The price overcomes several resistances and updates the local high, when retesting the liquidity area, to 1935 If we pay attention to the high timeframe, we can see that the price overcomes the resistance of the downtrend (wedge). The daily candle on Monday closed almost at the daily high, which is a strong signal that with another retest of the previous day's high, the growth may continue. Also, I am very likely to expect growth, but only after a retest of the previously broken support area. That is, in our case there are two zones for buying, it is the zone near the support (liquidity area 1930-1928) and the zone above the resistance 1934-1935. If this line is broken and the price consolidation above the level, we can also buy. Moving averages continue to realize the formed buy signal Support levels: 1928, 1930 Resistance levels: 1934, 1935 I expect growth in the medium term. The price breaks the resistance of the bearish trend and gains the target - the retest of 1950 OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
19
STXUSDT → Price over the wedge resistanceBINANCE:STXUSDT breaks resistance amid bitcoin consolidation. Earlier, a false breakout of consolidation support was formed, which influenced the trendline breakout We see a prolonged consolidation formation in the format of a descending wedge. Yesterday, when BINANCE:BTCUSD began to strengthen on the background of weak positive news, Stack/TetherUS broke through the resistance of the figure. A day later, we see the price consolidation above the line and now, if the consolidation is successfully realized, the price may reach 0.5447 in the near future. Regarding the indicated resistance - 0.5447. This line delimits us from a strong bullish growth. If the coin is able to break this resistance on a retest, then in the medium term we could see a rise to both 0.8779 and 1.1924 Support levels: 0.4371, trend line Resistance levels: 0.5447 I expect growth to the resistance of the range with the subsequent breakout after a small pullback. Regards R. Linda!
Long
by RLinda
11
US2000: Thoughts and AnalysisToday's focus: US2000 Pattern – Descending Triangle Pattern Support – 1840 Resistance – 1870 Thanks for checking out today’s update. Today, we have run over US2000, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. The Russel isn’t a market I normally watch or trade, but the descending triangle pattern did catch my eye today. Overall price sits in a range, but it has broken a trend on the inside and set up a LH. These patterns are normally seen as bearish after a trend break, but support looks rather firm at this stage. With the FOMC coming up later this week, watch out for a false breakout lower that closes higher. This could set up a higher breakout. If sellers continue to push at support, look for a solid close-through support with a new failed rally that sets a new weekly low. It’s going to be interesting to see which side gets the win here. Have a great day and good trading.
U
by Eightcap
GOLD → Market declines in steps - a strong hint OANDA:XAUUSD is moving in steps, gradually updating local lows, which speaks about the current trend. After another resistance retest, which failed, the price returns to the support and under the market pressure breaks the line On the senior timeframe a sideways range is formed and the price is approaching the decisive support, a rebound before the breakout may follow. On the local timeframe we see the breakout of another support line and the price decline to 1905 (at the time of writing the review). Most likely, gold seeks to test the liquidity area below the key low of 1903.8. (False breakout is possible). From this area the market is likely to form a correction to 1908 or to 1912 with the subsequent decline on the background of the downtrend and reaching again 1903 or even to 1889 in the medium term. TVC:DXY does not give preconditions to fall yet and may continue its growth, for which XAU is preparing. Support levels: 1903.8 Resistance levels: 1908.4, 1912.8 I expect a retest of support, but the market will not break this level at the first time, but will form a rebound before a further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
EURUSD → The market is forming limit resistanceFX:EURUSD is testing the resistance of the current trend channel, but cannot break this area. While the TVC:DXY is correcting, the currency pair is forming consolidation The dollar index is declining after the retest of 105.00, most likely the area of 104.00 will give a new impulse, therefore, the forex market will give a corresponding reaction. If the dollar strengthens, the euro will weaken. At the moment we see a retest of trend resistance, the market is forming a limit resistance area at 1.0765 and pushing the price away. The bears are showing their strength at the moment. An important support before the momentum formation is 1.0705, if this line is broken, the market may give a strong impulse. Resistance levels: 1.0765, upper boundary of the channel Support levels: 1.0705 I expect the currency pair to continue to decline, but if the dollar index breaks 104 and heads towards 103, eurusd may try to break the resistance. Regards R. Linda!
Short
by RLinda
11
💱GBPUSD - A descending triangle will send the price to 1.23680GBPUSD continues to move within a strong downtrend. The price has already lost 5.3% from the high and is ready to lose more. A pattern is forming which could send the price to 1.23680 TA on the high timeframe: 1) Failure of the support at 1.25479 will form a new impulse and a new level 2) A stop at 1.24450 forms a support and 3 days later the price comes back to retest this line. The market is preparing for a breakout and further decline TA on the low timeframe: 1) A descending triangle is formed, which can be interpreted as sellers' pressure on the support area 2) The line is already broken and now either consolidation or retest will be formed. 3) Support at 1.24500 plays an important role for us. If this level is broken and the price consolidates below it, the potential for a possible decline to 1.23682 will be formed. Key resistance📈: 1.25000, 1.25279 Key support📉: 1.2463, 1.24500
Short
by Gold-Tech
7
Bitcoin - This week 10% pump or 10% dump! (BREAKOUT) This week is going to be huge! We have this head and shoulders pattern that is ready for a massive breakout. I give it a 70% chance of breaking down and a 30% chance of breaking out of this pattern. The most important thing is to let me know in the comment section what you think about this upcoming crash or pump! Up or down? Bitcoin is on the road to 20k and potentially 15k later this year if this pattern breaks down, so for the bulls, it's important to defend this support and start a new uptrend from here. As you probably already know from my previous ideas, September is the worst month for Bitcoin, with an average negative return. That means the price of Bitcoin usually goes down in September. This is a statistical fact, but of course it's not a guarantee. It's likely for Bitcoin to go down based on historical data. The halving event in April next year is still too far away, so you cannot rely on it. Most likely, we are going to find the bottom on Bitcoin in March 2024. This is a quick update on the price of Bitcoin. I always give you a complete outlook for Bitcoin to stay updated on all time frames. From monthly to hourly. Make sure you follow me so you do not miss out on my next update! We all know that the price of Bitcoin can sometimes become very boring when it's stuck in a range and volatility is at its historical minimum. But it is how it is, and that's why if you are a crypto trader, you can trade altcoins as well for diversification purposes. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDShort
by UnknownUnicorn2537518
147