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Falling Wedge

Breakout & Re-test of ~5.5 year Falling WedgeBitcoin Cash was in a falling wedge for nearly five and a half years before it broke out of it back in June of 2023. Presently, it is re-testing the top of a dashed-line wedge drawn from wick to wick and has failed to reach the top of the solid wedge drawn from the line chart. Holding above the wedge could lead to an approx 5.25x move against Bitcoin from its current position at 0.0057 to TP 1 at 0.030 and an 11.75x move should it reach TP 2 at 0.067. It's possible we could see a double-bottom with a slightly higher low around 0.0041 or 0.0040 if it re-tests the solid wedge's top over the next weeks or into March or June, before moving up towards targets. Should a wedge re-test and double-bottom occur first, the possibility for already major gains vs. Bitcoin increases to 7.3-7.5x at TP 1 or 16.34-16.75x at TP 2.
Long
by dudebruhwhoa
2
I'm More Bullish Than Bearish On JTO!!JTO is trading in a bullish pattern. The falling wedge has a higher probaability of breaking to the upside. If we get a nice breakout to the upside, I would be looking to target the POC above around $2.90. If we fail this support level, the next level below is around $2.105. there we have major confluence, which is the .886, .382, & Daily level. If that is reached and holds, I would consider entering a long position. We don't know how price will play out so we manage our risk accordingly. i]Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
Long
by Navitility
KAVAUSDT → A break of resistance will give a 60% increaseBINANCE:KAVAUSDT is overcoming trend resistance, which could give a potential rise of several tens of percent in the mid-term Against the backdrop of rising COINBASE:BTCUSD , which is overcoming the key 4-week resistance KAVA and the altcoin market shows good potential. The only nuance is that KAVA is lagging the market and continues to consolidate. An important nuance that will stimulate strong growth is a break of 1.140 resistance. This level is the upper boundary of the 12-measures consolidation. After breaking this resistance, the market will have a potential target of 1.550 and 1.800. But before that we have another resistance - the upper boundary of the wedge. Consolidation of the price above 0.950 will form the potential to buy and hold the trade up to 1.140. Support levels: 0.950, 0.870, 0.770 Resistance levels: 1.025, 1.140 I expect consolidation of the price above 0.954 and growth to 1.140. Further I will wait for the breakthrough of 1.140 and growth to the specified targets. Regards R. Linda!
Long
by RLinda
3
ETH → Moving from the old range to the new one. Target $3500BINANCE:ETHUSD breaks the consolidation resistance and makes an attempt to enter a new wide range. The target of this maneuver, after fixing the price above the support, may become the area of $3580 The market has been forging consolidations and prolonged retests of the 2300 area for several weeks. After the formation of another set-up, which I warned you about earlier, the price breaks this area. In fact, we were ready for it. Several support levels are important for us at the moment: 2383 and 2300. Consolidation of the price above these levels will form a big bullish potential, which in the medium term will determine for us the further priority and further path. But in the priority we expect the price growth to continue, as ETH has a positive fundamental and technical background. The medium-term target for us is 2650. There are also chances that the price may test this zone this year and reach the upper boundary of the mentioned range next year. Support levels: 2383, 2300, 2340 Resistance levels: 2445 Moving averages support the market We expect the growth to continue as we have a favorable fundamental and technical background. Regards R. Linda!
BITSTAMP:ETHUSDLong
by RLinda
16
WKHS: Falling Wedge With Bullish Divergence Into The 2018 ZoneWKHS has formed a Falling Wedge with Bullish Divergence on the Daily as it has come down into the December 2018 Low. It has also Bullishly Engulfed the previous Daily Candles and has exhausted the Options Chain. At this point in time I'd expect WKHS to make its way back above 50 cents and perhaps run up to around $1 or perhaps a bit higher which would be best played by buying the call options at the 50 cent strike which currently trade at below 5 cents.
NASDAQ:WKHSLong
by RizeSenpai
2
THETAUSDT - The attempt to change the trend is doomed to successBINANCE:THETAUSDT is forming another resistance retest and in fact it can be considered an attempt to change the bearish trend. The chance of success is quite high as several key patterns are forming. On the high timeframe, the coin finds a clear bottom and the triple touch pattern confirms the area. But the price still has a long way to go for a trend change, as breaking the local downside resistance is still not enough, THETA must overcome the 1.717 area to confirm a definitive trend change. On D1, a descending wedge is forming on the background of the bearish channel, the breakout of which forms a rally to the trend resistance, where a pre-breakout consolidation in the format of an ascending triangle is turning. The strength of this consolidation is enough to break the resistance area and the level of 1.190, which will confirm the breakout and may form an impulse to 1.337 and 1.700. SMAs are forming an interesting signal. Support levels: 0.982 Resistance levels: trend resistance, pattern resistance, 1.190. I expect a breakout of the above zone with the subsequent formation of an upward impulse. Regards R. Linda!
Long
by RLinda
6
REEF IMPENDING A YEARLY BREAKOUTIn this chart of BINANCE:REEFUSDT on a weekly timeframe, the price has touched the strongest trendline of REEF as of this date. As a trader, it sparks excitement for a potential breakout that could happen soon. In this technical analysis, the coin is forming a divergence wherein the price is creating a lower low and our indicators showing a higher low, citing a bullish divergence. And the price movement clearly shows the diagonal support and resistance lines, leading to this yearly falling wedge pattern. Take a peek on the instances of the coin hitting the trendline (highlighted in red) in this chart below. Additionally, the month of October and November proved to be special for the coin and it shows the firmness of the resistance line. If a rejection happens, I will consider this diagonal support for a possible breakdown intraday short play. Today is weekend, so I don't expect a massive movement for now. Though still on a downtrend, expect a massive increase in the price if it breaks out the year-long trendline. We will have to WAIT for that to happen, it's just a matter of time and patience as I would point out in my previous posts. Always PLAN your trades and happy trading!
RLong
by luigi360swirl
3
LPTUSDT → Breakout of multi-month trend resistance. BINANCE:LPTUSDT is moving into the phase of realizing the accumulated potential. Against the background of stalled BTC, LPT / TetherUS looks confident enough to continue its growth after breaking through resistance. The cryptocurrency market is quite active lately. Overall capitalization, flagship, altcoins are warming up after a prolonged winter. Prices are updating multi-month highs and that is encouraging. LTP is still under bear market pressure and only today the pair is starting to show prerequisites for a possible trend change and realization at 12.00. The price is forming a pre-breakdown consolidation against the trend resistance. After retest and false breakdown the price does not fall, a strong support area is formed and on the background of another retest the resistance is broken. The tandem set-up plays the role of a reversal set-up and clearly indicates the formation of bullish potential. Moving averages are starting to show a possible market reversal. Support levels: 6.9, 5.96, 5.35 Resistance levels: 7,56, 9.31, 12.00 Market consolidation above the previously broken trend resistance and the 7.0 area will form a bullish potential that may activate a market rally towards these targets COINBASE:BTCUSD CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 Regards R. Linda!
Long
by RLinda
7
MP Materials: Falling Wedge With Bullish Divergence at a 0.886The Federal Reserve during the FOMC and in its SEP has hinted greatly towards deep rate cuts in 2024 because they see the CPI going down and no longer feel the need to tighten further, and are under the assumption that great progress has been made. I for one do not agree with this perspective and think rates need to go much higher before inflation can truly be subsided. Since the Fed is under what I view as a false assumption, I think we will now see Inflation and the CPI come back up even higher and faster than the first inflationary run up and that we will see this greatly reflected in Food, Energy, and Shipping prices. Along with this, I think it will affect the pricing of Rare Earth Elements which should end up being a positive for the Assets on the balance sheet of producers such as MP Materials, VALE, and US Steel: X, along with the REMX ETF; as demand for ships and other means of shipment/transport increases. The increase in demand for these types of shipments should also drive demand for the materials the shipping vehicles are made of, which should drive the prices higher for both. I do not think Gold and Silver will join this inflationary rally due to the collapse of the Japanese Carry Trade, and I do not believe the Dollar will lose much value during this rally in inflationary materials except against the Yen. This dynamic should also limit the rally potential in the big stock indexes, I only really expect certain names to benefit from the kind of inflation we are dealing with. So in short, I think the Bulk Dry Index continues to rise, Shipping Cost Rise, Ships themselves Rise, Oil Rises, and Rare Earth Materials Rise and when that happens, I suspect the Fed will pivot hard back in the other direction and start raising rates again.
NYSE:MPLong
by RizeSenpai
2