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Falling

🔥 HOOK Masssive Falling Wedge Break Out!HOOK has been trading inside a falling wedge for over 8 months now. In my view, a bullish break out of this pattern could lead to a new bull-trend for this token. Naturally, a bullish BTC will help. Also, this trade could play out over the long-term, so no quick money here. Still, a risk-reward of 20 is very respectable. I'm waiting for a daily candle to close above the top resistance to confirm the break out. I'm aware that the bottom support of the wedge doesn't line up perfectly, shouldn't be much of a problem.
Long
by FieryTrading
8
Brief Analysis——STMXToday we selected two tokens from the tokens listed on Binance for brief analysis. They are TOMO and STMX. Like most tokens, STMX has fallen for nearly a year, and maintained a low volatility. On Jul.21, the volatility increased and the price started to pomp with high trading volume, breaking the red dotted line. STMX converts to neutral on a large scale. But after a brief rise, bears strengthened, the price starts to fluctuate and move in the black angle, and finally breaks down the low rail. At that time, STMX turned bearish again on a large scale. In the last week, the price drop almost covered the previous rise. The bulls did not strengthen after the bears decayed. The volatility has decreased to the previous level again. Conclusion: Mostly falling. The rapid decline covered previous gains, as if the pump never happened. Bears is stronger than bulls. We think the price will fall after the bears come back. We set resistance level at 0.005700 and support level at 0.004180. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
SShort
by Sypool
1
Brief Analysis——TOMOToday we selected two tokens from the tokens listed on Binance for brief analysis. They are TOMO and STMX. In the first half of 2023, TOMO rose with fluctuation, and the low point of each callback was higher than the previous one. There was an upward pin-bar on May.28. After that, the price went into a long period of fluctuation. In the last week the price was near the high again, but consecutive red candles appeared, and the price fell back near the lower rail of the yellow range. The slope of the decline is gradually increasing, and there is no bullish power in the process. Conclusion: The high probability decline has not ended. TOMO maintains bullish on a large scale, but the bears is stronger than the bulls recently. The decline is likely to continue. However, the current price is close to the lower rail of the yellow range where the bulls will increase. So this conclusion is drawn. We set the resistance level at 1.65, the upper rail of the yellow zone, and set the support level at 0.97. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
TShort
by Sypool
1
🔥 MANA Best Long-Term Trade For Next Bull-Run: High Gains🚨If you enjoy this analysis, please give it a like and a follow. MANA has been losing value for nearly 2 years at this point. However, I anticipate that there's some decent money to be made on MANA in case this falling wedge pattern plays out as I expect. MANA looks weak, and will likely lose more value in the coming weeks/months. I'm going to be very patient for MANA to see more selling and step in around the bottom support of the falling wedge. Stop around 10% below the wedge's support, target at 5$. This results in a massive risk-reward of almost 95. If this plays out, this trade can be your best trade of the decade with a huge 95x return on your risk.
Long
by FieryTrading
23
🔥 NEAR Huge Falling Wedge Break OutNEAR has been trading bearish since the April top 2022. This trade is based on the premise that NEAR's bear market is over and that the price will move up in the future. Keep in mind to wait for the price to break through the top resistance of the pattern and close above it to confirm the break out. Target placed at the all-time highs, stop below the recent bear market lows. For less risky trade you could take (partial) profits around 6.00 and 8.00
Long
by FieryTrading
13
BTC Crucial MomentLooking at the bad news in the past weeks we should have gone like straight bottom, 30/50% down. Instead we hold 25k nicely. Now that we are above MA200 weekly and perhaps will use at support, I see two possibilities. Bullish and Bearish. It hold so well so maybe we can think BTC has some power to complete the falling wedge (red lines), reach 30k or even beyond. Bearish, if we lose MA 200 weekly or 25k we could be exiting a rising channel that we are riding since the last bottom. Tending to be on bullish side but with just one foot inside, till i have more positive confirmations. One foot out to buy after confirmation or on more bottoms. Good luck Jacinto
INDEX:BTCUSD
by JacintoMonteiro
🔥 Arbitrum: Falling Wedge Waiting For Break OutARB has been trading bearish for the better part of three months now. During this period, a falling wedge pattern has emerged on the chart; lower-lows and lower-highs. In my view, it's likely that ARB will continue to trade within this pattern for the foreseeable future. Keep in mind that we've got a FOMC interest meeting tonight which could cause some strong volatility. Personally, I'd expect ARB to go lower in the near future and consolidate within the outer point of the pattern. Classically, falling wedges are bullish reversal patterns, so a bullish break out could lead to some decent gains, will make a new analysis once were there. For now, keep an eye on this pattern in anticipation of a break out in the coming weeks.
by FieryTrading
6
BTDUSD - Bitcoin On the verge of a pennant breakoutNot writing much on it. Sharing my long scenario for BTC. Very heavy resistance overhead but it looks like a very clear bullish pennant forming from its previous run up. Currently attempting to break out, ultimate goal would be at 35-36k with TP zones at previous local high of 27.8K and 30k~ respectively. Look for volume on breakout of this wedge pattern. There been a bullish divergence developing over the past couple of months as well. I favor a bullish breakout rather than a breakdown. IF we fail breakout, it'd likely fall within range and test bottom of the wedge before an expected bounce. Market is just boring but not bearish. Remember the trend is your friend. We are currently on an upward trend so we favor bullish scenarios. For Lazy people: Bullish Scenario: Buy: 27k IF we get strong volume or follow-up volume. WAIT For candle close and don't chase it unless you're willing to take on additional risk. TP1: 28K TP2: 30K TP3: 35-36K~ Bearish Scenario: Short: 26.8-27k (short now if okay with risk, otherwise wait for confirmation of top of wedge as resistance aka Candle close) TP: Bottom of wedge / 0.5 FIB zone 24-24.5K
Long
by TaoXBT
🔥 HBAR Falling Wedge Reversal Signal: Patience!HBAR has been selling off for months now. In this process, it has formed a falling wedge, which is generally a bullish reversal pattern. The signal will be activated once the price has broken through the top resistance and closed above it. Patience! A more risky bet would be to make an entry around the current area in anticipation of the break out. Stop below the recent low, target at 2023 top. Risk-reward of >7 is very respectable for this trade.
Long
by FieryTrading
12
🔥 ICP Falling Wedge Break Out: High Risk Reward PotentialICP has been selling off for nearly a month now. During this period, a falling wedge pattern has emerged on the chart. Falling wedges are classically bullish reversal patterns, so that's why we're looking bullish. Wait for the price to break out and close outside of the pattern before considering an entry. Looking at 4.90 for now. Target placed at 6.80 for optimal risk-reward of 11.18, but could be 6.20 or 5.45, depending whether you want a higher probability trade.
Long
by FieryTrading
5