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Falling

NANO / BTC = Falling Wedge Low Risk Entry 5/10/18Whats up Yall, NANO is looking good for a low risk entry at the bottom of this falling wedge, which is a bullish pattern after a downtrend and very reiliable pattern. Positives - Wedge pattern is bullish pattern, low risk entry of this pattern, bullish divegence on MACD, overall bullish on Klinger Oscillator and Stoch RSI almost form bullish divergence. Negatives - Downtrend, high volume sell off, BTC had big bearish candle, has wicked off the support of the channel and possibly closing below. NANO can have huge gains but we need to have a change of direction with higher highs and lower lows. Have fun, Be Wise and Respect your wallet :) BINANCE:NANOBTC BINANCE:NANOETH BINANCE:NANOBNB Bitcoin = BINANCE:BTCUSDT
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by UnknownUnicorn2494800
HIDDEN falling wedge is forming - Possible breakoutHey everyone, I hope everyone is doing fine. My last chart didn't work out I thought we were going straight to 10k but instead Bitcoin started the detour. Nevertheless I still think we are setting up for a breakout right now and we have a few more signs. Today I would like to share them with you. First of all we are forming a what I think is a 'Bullish Pennant'. (See reference here: irp-cdn.multiscreensite.com) But ofcourse this pattern is not enough to conclude we are breaking out. So I started looking for signs in the RSI: You can see that the 4hr RSI is forming a Hidden Falling wedge which classifies as a bullish reversal pattern . Next to that the RSI bounced of the 38-40 range which tells me the bulls are strong. The bears tried to get the price lower last night but they failed. The bears are too weak to bring this down. For those that do not know: In a bull trend the 4HR RSI rarely falls below the 40 level. This only happens in a extreme selloff (top of a parabola for instance). But usually the 4HR RSI 38-40 range can be used as an indicator to find the bottom. If it would go lower it is a bearish sign. This is not the case now which tells me the bulls are very much alive and ready for battle. I think that we are going to come down one more time to the 8.9k - 9.k range as you can see on my screenshot. We're doing this to find our bottom in the wedge. When the wedge is completed the RSI is completely reset and ready for launch. We will then start our breakout run. Please keep in mind that this is a scenario. Do your own research! Humans make mistakes. Greetings and goodluck everyone, Vincent
BITFINEX:BTCUSDLong
by CivilisedWolf
23
BTC Inside another Falling Wedge/Bull PennantI know I have been analyzing a bunch of other alts recently, with it being cup and hande season and all...but let's get back to the bread & butter...the btcusd chart. As you can see we have formed another falling wedge(a bullish pattern) which happens to also be a slanted bull pennant. Both are bullish patterns and considering how close they are to the upward curving eve trendline(in pink) I think breaking upward is definitely the path of least resistance. During this falling wedge consolidation we have had to make minor adjustments to the eve trendlines trajectory which has pushed back the day it meets the double bottom's neckline back to May 5th. I see no reason to think we will have any dort of major retracement or bear break in the immediate future because we have still only been forming higher lows and have yet to see a lower low. I expect more bullish action today so we will see what unfolds...of course don't take my word for it make your own educated decisions as this is not financial advice...thanks for reading all the same and best of luck!
BITFINEX:BTCUSDLong
by DrDovetail
2
Bullish breakout of fallingwedge/bearflag combo Bulls run loose!There was no more room left to go sideways as the price action got pinned up against the Eve trendline(in pink) and since the falling wedge(bull pattern) broke out first before the bearflag(bear pattern) had a chance to breakdownward it caused both to break bullishly upward....the upward projected breakout target for the wedge is $9238 while the upward projected breakout target of the bear flag is 9847. I'm confident we will at least climb to $9238 in the net few candles, but there's a chance that the breakout of the wedge completely invalidated the bear flag pattern which would mean it wouldn't guarantee that patterns bullish price projection...at the same time they both could be triggered...either way we will find out soon enough. If both were triggered that would provide double the bullish momentum so we should reach the higher target sooner rather than later if ithey were both indeed validated on this breakout. We are only further validating the legitimacy of the Adam and Eve double bottom as each day passes. I anticipate we will still reach its neckline around the 29th of April as everything still looks well on target. Thanks for reading and be excellent to eachother.
BITFINEX:BTCUSDLong
by DrDovetail
2
Nearing the neckline; being squeezed between 4hr Tline & 50MAPrice action is currently being squeezed between the 4hr buy/sell line(50ma) and the 4hr tline(8 EMA) and should shoot one way or the other soon enough. I expect a break upward even though it's currently forming a bear flag(which usually breaks down). A break below the bearflag could take us as far down as $7938 but if we go up then we could hit the neckline of this double bottom pattern by the 29th of April. Even though the bearflag(in red) which tend to break downwards has formed, that bear flag has formed inside a falling wedge(in tannish green) which have a tendency to break upwards. Often times these patterns become bear patterns cloaked in bull patterns or bull patterns cloaked in bear patterns. A break up from the wedge would only result in a projected uptrend target of $9238 which would continue skimming along the top surface of the eve trendline(in pink)'s current trajectory....however breaking up from the bearflag could have enough momentum to take us to $9874. It all depends on which pattern is more valid. They may both be valid. If either pattern breaks up the trajectory of the Eve line does not change and we would have a current projected date of April 29th as when we could reach and test the neckline of the Adam & Eve double bottom...If we broke downward, that would put us under the 4hr buy sell line and also give us a lower low which would mean a shorting opportunity, taking us all the way down as far as $7938 and significantly changing both the trajectory of the Eve trendline, and also which date it would reach the double bottom's neckline. As long as one is prepared for both potential outcomes, both outcomes can be a solid opportunity and fortunately neither will nullify our double bottom pattern. For a multitude of reasons I think probability favors a break upward, once the 50ma and the t line are done squeezing the price action I anticipate the 50ma teams up with the eve trendline and should have enough combined support to shoot the price action above the t line. So for now I am still long, but I will be ready to short should the opposite outcome occur. You of course make your own decisions as this is only my personal strategy and in no way meant to be taken as financial advice. Good luck and thanks for reading!
BITFINEX:BTCUSDLong
by DrDovetail
7
RISKY but maybe worth the REWARD?!looking at the chart that i have posted we are yet out of this downtrend! we are in a critical position with ontology. we are testing the white support line and it has held after two bounces off, so indeed it looks strong. we are currently in a downtrend and along with that being said we have tested the top red resistance line several times. with the previous information we have to decide our move, but here is the difficult part because i you look at the fib retracement you are in for a huge drop within the red zone of the fib. this is a falling wedge patern which typically break upward from what i've looked up so it could either go south really quick or it could become a money maker. either way trade with caution. as good as the falling wedge pattern looks this situation may call for a stoploss! not a pro just a novice trying to make money! let me know what your thoughts are and kept you money safe!
Long
by birdy619
Mega Falling Wedge. And what about the volume?Bitcoin has been forming a very large Falling Wedge over the past several weeks. We can see that support and resistance levels are bound by the wedge, and that we are nearing its apex. What will happen at the end of this wedge? Considering market sentiment and the current global financial climate, I'd say it's more likely that BTC will break downards. But there is a possibility (since this is generally considered a bullish sign) that we will see a reversal. Evidence of a possible reversal is in the fact that there is still so much money sitting inside of exchanges in either fiat or Tether. The founder of Binance recently, during an interview, divulged that almost all of the money which was "lost" from the Market Cap of Cryptocurrency is just sitting in the users exchange accounts. Possibly waiting there for the opportunity to buy back in. Waiting for the blood to stop spilling. What this indicates, to me, is the possibility that all of these people waiting to buy back in are going to see a single green candle and we'll likely see the biggest FOMO event of the year. That is, of course, if the CEO of Binance isn't lying... The other thing I noticed which doesn't seem to be getting much attention here on TV is current daily trading volume VS what we were seeing near September. On most days, Volume is nearly double what it was when BTC was worth 3k... Why is this? Why is volume continuing to increase while the price of BTC continues to Decrease? Is this the impact financial institutions have upon our space? Pouring there money into the markets, but only to Short it? We're getting pretty close to finding out what's going to happen to the industry. Either we break down support below 5500 and head towards 3k, then 1k, and ride that out for the next 2 years. Or we see all these Tether holders cause the years first Bull Run. What do you think?
BITFINEX:BTCUSD
by VanBenno
2
ETHUSD Potential Reversal signalOver last couple weeks we have noticed a falling wedge pattern on most coins. Overall bullish market may resume, as our current downtrend breaks current trendlines upwards. On Daily Chart, we see it has closed above, and as we see RSI move towards overbought, we may see a slight dip downwards to test resistance levels again. If we stay above previous resistance turned support, we can call this a reversal with strong upward movement. On longer charts we may see momentum shifts like this one, and as a strategy can buy and sell long positions. IF this pattern continues, This would indicate a good entry point in the overall bullish market.
BITFINEX:ETHUSDLong
by Shwayze
1
Bullish breakout confirmed; following eve bottom preciselyNot unexpected the great bullish price action I woke up to this morning but still a great feeling to finally see the breakout from the falling wedge I had been expecting finally triggered. What's more than that, if you look at the bpottom wick of the current day candle you will see it bounced upward off of the eve bottom that I have laid out precisely, further giving credibility to the eve bottom I have drawn out. Hopefully more traders(bears specifically) will tqke my hypothesis more seriously now that we are continuing to see it play out to a t. I hope all who have been following my ideas thus far have been accumulating some of the top alt coins at a very cheap discount leading up to this, I remain truly optimistic that we will be experience a bullish 2nd quarter and possibly even a new all time high during this second quarter....For now though we are just trying to take it one step at a time and this first step of a higher high after achieving all these multiple higher lows is monmental. Next we want to see one more consecutive higher high to confirm the bulls have taken back control...after that we will be looking to break the neckline of the double bottom by reaching 10400-10500 by the 4th or 5th of May and hopefully by then we have had enough upward momentum to flip the death cross back over to a golden cross to give us another great bullish boost as well. All those conditions combined I think could certainly eventually lead us to a new ath...but don't be araid to take some profits along the way. Best of luck and thanks for reading!
BITFINEX:BTCUSDLong
by DrDovetail
BTC reaching the apex of falling wedge; Adam & Eve still in playA quick update we are reaching a pivotal point as we approach the apex of this falling wedge as well as continuing to follow this potential eve bottom quite precisely. You can see here on the 1 day chart we are currently up outside the falling wedge on the current 1 day candle...like the previous 1day candle, it is finding strong resistance at the t line(in yellow) However this candle has a double reinforced support of both the eve bottoms trendline, and the 23.60% fibonacci retracement line(in red at 6680). This retracement line has served as both very strong support and very strong resistance over the last week or so as the eve bottom has been slowly rounding out and making its turn back upwards, and now that we are above that fib line as well as having it double reinforced with the eve trendline, should prove to provide enough support to keep the price action up out of the falling wedge...which should result in a big bullish volume spike in the coming few days. It could by chance drop back down into the falling wedge and wait until closer to the end of it to breakout which would invalidate and eve bottom but instead likely result in a more traditional standard double bottom considering the falling wedge ends at the exact same pricepoint as february's low....either way we have good odds in favor of one of the 2 double bottoms so I will side with that probability while at the same time of course being prepared for the exact opposite outcome should it occur, where if we dip and stay below 6400 we can trigger a massive head and shoulders that could take us down as far as the 3,000s(less likely in my opinion) If we can find a way to close above the tline on this current candle I'd say we will likely see a big bullish volume spike to confirm the breakout on the follow up candle..for now we shall wait and see.
BITFINEX:BTCUSDLong
by DrDovetail
its ok to revise your pattern bundariesIts ok to revise your pattern boundaries as the chart action provides new data. As you can see I was stopped on this trade in a bulltrap. I have marked my original upper wedge boundary and my revised boundary. I always chart based on best fit. I consider things like number and strength of touchpoints with the line among other things. In this case I choose to view the price action on 3/24 where we break above the original upper boundary, the activity was very weak. I choose to connect 3 points on my boundary rather than the two if you look at the 3/24 price action as the upper boundary point. Now that their was a break of my trendline that allows me to connect it to the 3/24 high to reconstruct the new upper boundary to my wedge. As you can see a long position taken at ~7120 quicky becomes a loser and get stopped at ~6900 as a loser. This initial entry was small with a double down entry to be executed above 7201 that was not filled. -3% on this trade, this was the bulltrap. Happy trading, stay agnostic.
by AAROJO1
Bitcoin Vision Clear As Day -> Dont Fight The Technicals We have a clear picture being painted, down before we can go up. We need a capitulation in order to get back up. So just sit tight and wait for the right entry. Market is very depressed due to price action, buyers that are entering are quickly exiting positions causing the market price to decline. We will be breaking down the final support that we have and then its a free fall down to lower levels where we started this trend of around $5,000 area. This area should have lots of support and buyers coming in. Best case scenario is that we bounce from the $5k level and start the next bull run that will get us up to the $15k levels by Q2 - Q3 We should experience a retest of the $7500ish area with a then massive bull run into Q4 to put us near the ATH. Our worse case scenario is that we bounce from the $5k then fail a retest of the $8,500-10k area and come back down to the $3,000 level fail at the $5k and retest $1,800. This scenario is unlikely. I would say 18-23% likely hood. This is not to be used as trading advice, just some friendly charting! Check out my other charts and subscribe!
BITFINEX:BTCUSD
by TheCryptAlpha
10