We appear to be in a daily fallling wedge. I'm hypothesizing 2 potential breakout zones of the 1 day falling wedge price acton appears to be in. Still have 2 potential bear targetts currentl in play as well.
Falling
BNBTC - Bull ScenarioWhile I do believe you should always have a bear and bull scenario. The bear scenario for this if it will break support which is inline with the Fibonacci ratio.
Using Elliott Wave Theory after an impulsive 5 count (1-2-3-4-5) movement. Likelihood of the price action correcting is high thus followed by an ABC classic ZigZag pattern which is a 535 pattern. Inline with the Trend based Fibonacci plotted from Wave 0->A->B shows Wave C is at 1.618 golden ratio which is showing as a strong support which the correction phase might be over already with an impulsive 5 count (1-2-3-4-5) diagonal movement.
BTCUSD: Further decline imminent, Accumulation phase.Please leave feedback and opinions if you disagree I'm open to criticism.
like or follow if you agree. And I'll return the favor.
The above chart is based on the line break technical analysis.
I have drawn out the forcasting Bollinger band path of movement.
1 day chart we have bounced off the 20 day moving average, we are now below both the 20 and 50 day moving average, if Bitcoin attempts a recovery we won't see $10,000 again. 10k is gone. The 20 day moving average has become strong resistance and we are heading down further for accumulation prior to halving in May.
Short the ponzishort it. the bankers wont let bitcoin grow, So we short and give arthur hayes money instead when he liquidates our positions.
RVN coin Mid term Analysis!!Breakout of falling wedge can trigger a trend reversal which can easily give us a 100% profit in the midterm
BTC breaking up from falling wedge. Target: 10.6-10.8kA great sign as it appears BTC is finally breaking up from it's falling wedge. It appears the biggest of the potential falling wedges(the dotted purple one) may be the most valid...in which case the projected break out target is around 10.6-10.8k. This should allow us to break up from the 1 day charts green bull pennant too at the very last minute which should lead to additional upside...I anticipate this will take us up to the neckline of the inverse head and shoulder pattern we've been watching for some time now.
BTC/USDT (4H) Will BTC Break out of the Falling Channel?BTC is continuing to go toward the upper border of the falling channel. Buyer is dominating so far. The main resistance stays at the upper border of the channel. If we break it - the upper targets will be open for us. Good luck everyone!
VIBEBTC Falling Wedge PatternBir cok altcoin haftalik grafikerlinde yukselise gecmek istiyor. Hacim güzel. Gunluk gorunum ve hedefler burada:
NEOBTCSeems like a falling wedge is forming here, but probably not done yet. If I am correct, it will bounce one more time forming a divergence and then breakout will occur.
ONTBTC breakoutFalling wedge and a divergence suggests that there is a pretty high chance for a breakout soon.
BITCOIN be careful to end of August! BTC may drop to 8.000 USD When we look to the 4 hour chart, we can see a head&shoulders pattern is forming. First shoulder started July 17th and ended in July 28th. And than head formation started in July 29th and ended in August 15. Seems like second shoulder has also started in August 15th.
We can guess that the second shoulder formation would also take around 11 days as well, and the fall down will be starting at the end of August.
Strategy : Sell BTC when the price go up to 11.500 which will be near to the top of second shoulder.
First target will be the height of shoulders and around 8.100-8.200
Second target will be the height of head and that is around 7.300-7.400
4hr diamond bottom appears to be playing outNo guarantee it will follow through and I'd like to see a slight bit more volume to confirm but it appears we have a 4hr chart diamond bottom breakout. If so it should reach the breakout price target I have posted here and I expect then on this current pullback for the yellow horizontal trendline at 9646 to retest as and maintain support in which case we will then head back up towards the diamond bottoms breakout target. If this were to occur it greatly increases the chances that we will trigger a breakout from the 1 day falling wedge pattern as well which if triggered here has a breakout target of 11.5k. We still have a potential gap to fill at 8.5k and must continue to keep that in mind but that could happen before we breakout of the wedge, after, or possibly even not at all...so instead we must focus on the price action at hand and only worry about factoring that in if the charts show we are heading that way.
3&4hr chart invh&s & fallingwedge nullified. zooming out to 1dayafter the 3hr50ma refused to submit to the bulls at the invh&s neckline thee bears dumped it below the head and nullfiied the 4hr falling wedge at the same time. This is a great example of why selling at a neckline in a correction phase like this can be a very very smart move if you set a smart stoploss buy-in a few pips above the neckline. Since the smaller time frame patterns were getting nullified it was time to zoom out and take another look at the daily chart which we can see a nice falling wedge forming on as well with a strong horizontal support at 8504. That is of course a good sign for the bulls but we must also remember we are under the double tops neckline and have already closed 1 candle below it this could be the confirmation candle for it and if the double top is triggered that drop target is just under 6k! While not impossible I think he 8504 zone will likely be enough of a strong support zone to keep things a float and once the 3 day golden cross solidifies and sustains itself the correction should be finished up and ready to resume bullmode. For now the battle is 1 day falling wedge vs. 1day doubletop
A 4hr falling wedge has emerged as the current dominant patternAfter seeing price action climb up and reject right at the top trendline of this falling wedge then fall back down and find support right at the bottom trendline of this falling wedge I can now say with a fair amount of certainty that the h&s patterns were decoys cloaking this falling wedge which seems to have now emerged as the most legitimate current chart pattern. I anticipate one more bounce down and up before a breakout will occur and maybe even on the final bounce down a wick that dips a decent ways below the bottom trendline...possibly even to that 8500 cme gap everyones been waiting on. I wont be risking waiting on that though and will be playing the trendlines instead and if we do dip down that low I'll simply buy the dip. I think we may continue to consolidate like this until the 3 day golden cross which should occur in the first week or 2 of august. Once that happens I anticipate it will help us to climb 87% percent in price just like the 2day golden cross and the 1 day golden cross before it both did. Quick rule of thumb: Falling Wedges and h&s tend to simultaneously develop quite often...so if you spot one the others probably hiding somewhere in there as well...and on the flipside of the coin, inv h&s and rising wedges.
BTC Falling Wedge ? Bull Run?Hello Traders,
New Thesis on BTC,
Points to consider
- Resistance at $10,800 - $11,000 Zone
- Support at $9000 - $9200
- Stoch on downwards momentum
- RSI on downwards trend respecting resistance
- Bounce from support straight into resistance, .382 Fibonacci Retracement acting as CONFLUENCE
- EMA's acting as support but looks weak
- Volume is declining, signalling a big move is about to come
- Possible falling wedge ( Bullish Pattern), we need more touches to confirm
- Fib-extension targets show a possible retracement to $7918 area
BTC with a high degree of probability is forming a new higher low in this immediate down trend, confirming this will be another touch in the potential falling wedge pattern.
The fib extenuation shows possible targets, only if the pattern is obligated. One major retracement level is the green zone, showing confluence with previous support. This will be a very healthy retracment for BTC, a macro higher lower would be put in..
Will this confirm the bull run?
What are your thoughts?
And remember,
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
Warren Buffett
Price action reaches falling wedge breakout target preciselystill up in the air whether or not we will fill the gap at 11.2k but my prediction that we would hit the falling wedge breakout target has been met with exact precision...I was assuming we would hi there and then fill the 11.2k gap on fomo alone before going back under the inv h& s neckline and confirming a fakeout. Still a chance we can rise to 11.2k or even confirm the inv h&s breakout and reach 12.5k however for now the price we hit happens to be a precise location for a double top to start to paint on the chart so whales may try to threaten a new smaller double top here. If we reach 11.2k i will be laddering out small profist.
If wedge breaks up on current 4hr candle target= 11.9kI was anticipating we would break out of the wedge slightly lower here bu considering the previous 4hr candle closed as a bullish engulfing candle we could close the current one above the wedge and maybe even break here...if no I anticipate the 9924 horizontal will be the zone we break up from. I still think its quite likely we will be retesting the 1 day 50ma again before the larger 1 day and weekly consolidation is through.
Decred could pumpThe Decred ETH pair has caught my attention for a while. I am fully locked and loaded since the bottom of the wedge, will be interesting if it breaks out.
- Matt DOG
