KLAYUSDT → Buyers are breaking resistance. What to expect next? BINANCE:KLAYUSDT has been forming a downward range for several months. After touching the lower boundary of the wedge, the price forms an active strengthening and breaks the resistance of the range. What to expect from the coin?
Above the level of 0.1551, near the wedge resistance, a pre-break consolidation is formed. Today we see the realization of the accumulation and the price breaks the resistance of the figure. This is quite a strong signal that a trend change attempt and a strong momentum may form.
BINANCE:BTCUSDT starts to strengthen and pulls some of the cryptocurrency market with it.
The entire market has been in a freeze lately amid fundamental circumstances, one of which is the SEC claims against major cryptocurrency exchanges.
Support levels: 0.1551, the previously broken wedge boundary
Resistance levels: 0.1663, 0.1933
The bulls are trying to take the situation into their own hands, but resistance at 0.1663 separates us from a strong growth. If the buyers will manage to overcome this area, then the market can show active strengthening to 0.2340.
Regards R.Linda!
Falling Wedge
8h Rising Wedge Targets Bottom of Daily Falling WedgeThe 8 hour chart shows a rising wedge. Its 1.5x target lies near the bottom of a larger falling wedge as seen on the daily or weekly charts.
Short until reaching the bottom of the wedge, then long.
Bitcoin probably will Recover soon (Falling wedge pattern)Bitcoin has been falling over the last few days, even more so with the SEC news accusing cryptocurrency exchanges BinanceUS and Coinbase.
Looking at the chart we are inside a falling wedge pattern that usually breaks upwards, we also have strong support in the 25k region which coincides with 0.382 of fibo.
Comparing the market in general, such as SPX500, Nasdaq, Gold and DXY, Bitcoin is cheap and once this FUD is resolved we will probably see a quick price recovery.
So as long as we are above 25k, most likely the price will recover in the next few days.
Triple Bottom (bullish)There´s a possibility of getting out of this SEC news FUD mess if we confirm the falling wedge and get breakout of it.
Just recently, on the daily chart BTC printed a triple bottom which is quite a bullish pattern showing some buying interest in this area.
If we go below 24/25k we are surely still in a bearmarket.
If we break out of this falling wedge prepare for a move above 30k.
Trying to become a bull. Sooner or later will surely happen.
Good luck!
📉 Falling Wedge Alert on $1INCH! Reversal Potential!Hey traders! Today, I want to discuss an intriguing chart pattern I've identified on $1INCH. Let's explore the falling wedge pattern and its implications, particularly in relation to the parabolic trend. 📊💡
Pattern: Falling Wedge 📉🔽
Symbol: CRYPTOCAP:1INCH 💰
Overview:
A falling wedge is a bullish chart pattern characterized by converging trendlines, with the upper trendline sloping downward and the lower trendline sloping upward. The presence of the parabolic trend further adds to the potential reversal scenario. Let's delve into the falling wedge pattern on CRYPTOCAP:1INCH in more detail. ⚡💹
Key Features of the Falling Wedge on CRYPTOCAP:1INCH :
Converging Trendlines: The upper trendline connects lower highs, while the lower trendline connects higher lows, indicating a potential shift in market sentiment. 📈📉
Parabolic Trend Support: Notice that CRYPTOCAP:1INCH is currently holding the parabolic trend, which reinforces the bullish outlook and strengthens the potential reversal signal. 🚀📈
Breakout Expectations:
Falling wedge patterns often precede bullish breakouts. To confirm the pattern, traders typically look for a decisive move above the upper trendline. It is essential to wait for a confirmed breakout before considering any trades. 🚀📈
Trading Strategy:
Entry Point: Consider entering a long position once CRYPTOCAP:1INCH successfully breaks above the upper trendline of the falling wedge pattern, supported by the parabolic trend. This breakout could indicate a potential reversal and continuation of the upward trend. ⬆️💰
Stop-Loss: To manage risk, set a stop-loss order below the lower trendline, protecting against potential downside. ⛔️📉
Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈
Risk Management:
Implement proper risk management techniques, such as position sizing, setting stop-loss orders, and adhering to your trading plan. Always be aware of the inherent risks associated with trading cryptocurrencies like $1INCH. ⚠️💼💡
Disclaimer: Trading cryptocurrencies carries risks, and it is crucial to conduct thorough analysis and seek professional advice before making any investment decisions.
#FallingWedge #1INCH #Cryptocurrency #ParabolicTrend #BullishReversal #TradingStrategy #TechnicalAnalysis #ProfitTargets #RiskManagement
In conclusion, the falling wedge pattern identified on CRYPTOCAP:1INCH , combined with the parabolic trend, suggests a potential bullish reversal. Exercise caution and wait for a confirmed breakout before making any trading decisions. Stay tuned for further updates on $1INCH! 🚀💹
(Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
XAUUSD - FALLING WEDGE PATTERN FORMATIONGold price (XAU/USD) saw buying interest around $1,947.50 in the London session, climbing above the crucial resistance of $1,950.00. Investors anticipate only one more interest rate hike from the Fed this year. S&P500 futures extended their downside journey as investors became cautious ahead of the extended weekend in the US due to Juneteenth. HSBC economists advise caution due to rising valuations and potential Fed tightening. However, we believe the Fed is nearing the end of its tightening cycle, benefiting US equities. The US Dollar Index (DXY) remains sideways despite Fed Chair Powell's affirmation of no rate cuts this year. Gold is approaching the upper part of the Falling Wedge pattern, with resistance at $1,958.84 and $2,000.00. RSI (14) indicates non-directional performance.
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BTC: BREAKOUT IN LTF! READY TO GO $28K!!Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this quick BTC update. In my previous BTC update, I told you to buy around $24.8k level. Hope you bought some and made nice profit so far.
According to the chart, BTC breaks out from the falling wedge like structure in 4hr time frame. Currently, holding the $26.2k support. As long as we hold this support expecting a good pump up to $28k level.
If we breaks below $26.2k support then it must hold the retest level of the wedge.
Overall it's looks good for shorter time. Expecting a good pump in BTC and Alts on weekend.
Invalidation:- If it closes below $25.4k then this chart becomes invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
📉 Falling Wedge Alert on $BTC! Parabolic Trend Holds Key! 💹🚀Hey traders! Today, I want to share an exciting chart pattern I've identified on CRYPTOCAP:BTC (Bitcoin). Let's dive into the falling wedge pattern while considering the significance of holding the parabolic trend. 📊💡
Pattern: Falling Wedge 📉🔽
Symbol: CRYPTOCAP:BTC 💰
Overview:
A falling wedge is a bullish chart pattern characterized by converging trendlines, with the upper trendline sloping downward and the lower trendline sloping upward. When combined with holding the parabolic trend, it could indicate a potential reversal and continuation of the upward trend. Let's explore the falling wedge pattern on CRYPTOCAP:BTC in more detail. ⚡💹
Key Features of the Falling Wedge on CRYPTOCAP:BTC :
Converging Trendlines: Observe how the upper trendline connects the lower highs, while the lower trendline connects the higher lows. This pattern suggests a potential shift in market sentiment. 📈📉
Parabolic Trend Support: Pay attention to the fact that CRYPTOCAP:BTC is holding the parabolic trend, indicating a strong bullish bias. This support adds weight to the potential reversal signal. 🚀📈
Breakout Expectations:
A falling wedge pattern often precedes a bullish breakout. Traders typically anticipate a decisive move above the upper trendline for confirmation. It's important to wait for a clear breakout before considering any trades. 🚀📈
Trading Strategy:
Entry Point: Consider entering a long position once CRYPTOCAP:BTC convincingly breaks above the upper trendline of the falling wedge pattern, supported by the parabolic trend. This breakout may suggest a potential trend reversal and continuation of the upward momentum. ⬆️💰
Stop-Loss: Set a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉
Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈
Risk Management:
Remember to implement proper risk management techniques, including position sizing, stop-loss orders, and adherence to your trading plan. It is crucial to carefully manage your risk exposure while trading CRYPTOCAP:BTC or any other cryptocurrency. ⚠️💼💡
Disclaimer: Trading cryptocurrencies carries risks, and it is important to conduct your own analysis and seek professional advice before making any investment decisions.
#FallingWedge #Bitcoin #BTC #Cryptocurrency #TechnicalAnalysis #TradingStrategy #ParabolicTrend #BullishReversal #RiskManagement
In conclusion, the falling wedge pattern identified on CRYPTOCAP:BTC , along with holding the parabolic trend, suggests a potential bullish reversal. However, exercise caution and wait for a confirmed breakout before making any trading decisions. Stay tuned for further updates on $BTC! 💹🚀
(Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
🔥📉 Falling Wedge Alert on $POLS! Bullish Reversal Brewing?Hey traders! Today, I want to bring your attention to an intriguing chart pattern on $POLS (Polkastarter). Let's dive into the falling wedge pattern and explore the potential for a bullish reversal. 📊💡
Pattern: Falling Wedge 📉🔽
Symbol: $POLS 💰
Overview:
A falling wedge is a bullish chart pattern characterized by converging trendlines, with the upper trendline sloping downward and the lower trendline sloping upward. It often signals a potential trend reversal from bearish to bullish. Now, let's analyze the falling wedge pattern on $POLS in more detail. ⚡💹
Key Features of the Falling Wedge on $POLS:
Converging Trendlines: Notice how the upper trendline connects lower highs, while the lower trendline connects higher lows. This pattern suggests a potential shift in market sentiment. 📈📉
Decreasing Volatility: Observe the gradual contraction of price range and declining trading volume as the pattern develops. These characteristics may indicate diminishing selling pressure. 📉🔻📈
Breakout Expectations:
A falling wedge pattern often precedes a bullish breakout. Traders typically await a decisive move above the upper trendline for confirmation. However, exercise caution and wait for a clear breakout before initiating trades. 🚀📈
Trading Strategy:
Entry Point: Consider entering a long position once $POLS breaks above the upper trendline of the falling wedge pattern. This breakout could signal a potential trend reversal and the start of a bullish move. ⬆️💰
Stop-Loss: Place a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉
Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈
Risk Management:
Implement proper risk management techniques, including position sizing, stop-loss orders, and adherence to your trading plan. Always be mindful of the inherent risks involved in trading cryptocurrencies like $POLS. ⚠️💼💡
Disclaimer: Trading cryptocurrencies carries risks, and it is essential to conduct thorough analysis and seek professional advice before making any investment decisions.
#FallingWedge #POLS #Cryptocurrency #BullishReversal #TradingStrategy #TechnicalAnalysis #ProfitTargets #RiskManagement
In conclusion, the falling wedge pattern identified on $POLS indicates the potential for a bullish reversal. However, exercise patience and wait for a confirmed breakout before making any trading decisions. Stay tuned for further updates on $POLS! 🚀📊
(Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
📉 Falling Wedge Alert on $HBAR! Potential Reversal Opportunity?Hey traders! Check out the falling wedge pattern I identified on CRYPTOCAP:HBAR (Hedera Hashgraph). Is a bullish reversal in the cards? Let's analyze and explore potential profit-taking levels! 📊💡
Pattern: Falling Wedge 📉🔽
Symbol: CRYPTOCAP:HBAR 💰
Overview:
A falling wedge pattern on CRYPTOCAP:HBAR suggests a potential trend reversal from bearish to bullish. It forms when converging trendlines indicate decreasing volatility and selling pressure. Now, let's discuss potential profit-taking levels! ⚡💹
Key Features of the Falling Wedge on CRYPTOCAP:HBAR :
Converging Trendlines: Upper trendline connects lower highs, while lower trendline connects higher lows, indicating a potential shift in sentiment. 📈📉
Decreasing Volume: Observe declining trading volume as the pattern develops, implying diminishing selling pressure. 📉🔻📈
Breakout Expectations:
A bullish breakout from the falling wedge can be anticipated. Traders often await a decisive move above the upper trendline for confirmation. Exercise patience and confirm a clear breakout before executing trades. 🚀📈
Profit-Taking Levels:
Take Profit 1: Consider booking partial profits as CRYPTOCAP:HBAR breaks above the upper trendline and reaches the first significant resistance level around $.07. 🎯💰
Take Profit 2: If the bullish momentum continues, look for the next resistance level around $0.10 as a potential profit target. Adjust your position accordingly. 🎯💰
Risk Management:
Implement effective risk management techniques to protect your capital. Set appropriate stop-loss orders below the lower trendline to mitigate potential downside risk. Adapt your trading plan as market conditions evolve. ⚠️💼💡
Disclaimer: Trading cryptocurrencies carries risks. Conduct thorough analysis, seek professional advice, and take responsibility for your investment decisions.
#FallingWedge #HBAR #Cryptocurrency #TradingOpportunity #TechnicalAnalysis #ProfitTakingLevels #BullishReversal #TradingStrategy
In conclusion, the falling wedge pattern on CRYPTOCAP:HBAR indicates the potential for a bullish reversal. Monitor the breakout and adapt your strategy accordingly. Don't forget to implement proper risk management techniques. Good luck! 🚀📊
(Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
HATSUN repeating its HISTORY??!!!There are multiple reasons to go long in it!
1. Price consolidation inside a bullish falling wedge pattern!
2. Price is at the support of 100ema and 200ema!
3. The last time price consolidated near 200ema was in 2020, results of which are on the screen!
And many more reasons which I would like you'll to find!
Therefore, I am long in it!
Bitcoin - The biggest bull trap in history!
In the past few days, Bitcoin has been pumping, which I was expecting. I share all trades that I make transparently. But this pump is something that we need to be aware of!
Clearly, this falling wedge pattern is coming to an end, because it has been a pretty long time. The price of Bitcoin is stuck in this "range". My ideas on it are the following: We are going to see a bullish breakout above the wedge, just right at the 0.618 FIB. All traders usually try to buy this breakout, but they probably don't know that there is a 0.618 FIB retracement just above the breakout level. Which is definitely an opportunity to short Bitcoin, not long! The next scenario I see is that we are going to see another touch on the upper trendline of the wedge, and after that, we are going to go down in a classic way.
I do not expect any strong bullish uptrend above 30k at all, and I am not buying Bitcoin, but we can trade it on futures.
From the Elliott Wave perspective, this wedge looks like a leading first wave diagonal pattern, which suggests the start of a huge crash. Now we are in wave (2), which is usually pretty strong and steep, so we can end wave (2) pretty soon!
I want to short Bitcoin at the 0.618 FIB retracement, if the price comes to this level! Otherwise, I trade altcoins on futures.
We have an unfilled CME GAP at 21k, do not forget it. But I think we are going to go even lower, to 15k or 10k. But I think if we really want to start a bull market, we need to fill the GAP before a new all time high!
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"!
AUDUSD - BULLISH RISING WEDGE📈Hello Traders👋🏻
On The Daily Time Frame The AUDUSD Price Reached a Major Key Level (0.67525 - 0.68182)✔️
And Broke This Resistance Level !
Currently, The Price formed a Bullish Falling Wedge ✔️
The Resistance Line of the wedge is Broken 🔥
So, I Expect a Bullish Move📈
i'm waiting for a retest...
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TARGET: 0.69545🎯
___________
if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
AEDGBP - Falling Wedge 4HrA falling wedge bullish pattern with a suggested reversal at the solid green line
This reversal may be temporary within the larger channel but it should happen.
Lets see how it plays out.
Acala Network - Falling Node Wedge Pattern!Greetings, Traders! Today, I want to share an exciting technical analysis finding on the trading pair of ACA (the native token of Acala Network) and USDT (Tether). A falling wedge pattern has been identified, indicating the potential for a bullish reversal in the near future. Let's delve into the details!
📈 Trading Pair: ACA/USDT
📅 Timeframe: Daily Chart
📊 Pattern: Falling Wedge
📉 Understanding the Falling Wedge Pattern:
A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it suggests diminishing selling pressure and the potential for a reversal. This pattern indicates the possibility of an upward price movement.
🔍 Identifying the Falling Wedge on ACA/USDT:
Upon analyzing the daily chart of ACA/USDT, the following observations come to light:
1️⃣ Recent downtrend: The trading pair has experienced a decline in price over the past weeks.
2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows.
3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure.
📈 Price Targets and Trading Strategy:
If the falling wedge pattern on ACA/USDT plays out as anticipated, a potential bullish breakout above the upper trendline may occur, leading to a reversal and potential price appreciation. Consider the following price targets:
1️⃣ Target 1: Resistance level near $2.50
2️⃣ Target 2: Psychological resistance near $3.00
🛡️ Risk Management:
Managing risk is essential for successful trading. Implement the following risk management techniques:
1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements.
2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy.
🔔 Conclusion:
Keep a close eye on the ACA/USDT trading pair as it develops this falling wedge pattern. The pattern suggests the potential for a bullish reversal on the horizon. However, please note that technical analysis is not infallible, and market conditions can change rapidly. Combine this analysis with other relevant factors before making any trading decisions.
Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Happy Trading! 📈💰
#tradingview #technicalanalysis #fallingwedgepattern #ACA #USDT #AcalaNetwork #cryptotrading #chartpatterns #bullishreversal #tradingstrategies #investing #finance #marketanalysis
BTTC - Falling WedgeA simple falling wedge structure on BTTC Falling wedges like to break out bullishly once completed.
Promising Falling Wedge Pattern on $RIVNGreetings, Traders! Today, I'm excited to share a compelling technical analysis finding on the stock of Rivian Automotive ( NASDAQ:RIVN ). A falling wedge pattern has been identified, suggesting the potential for a bullish reversal in the near future. Let's delve into the details!
📈 Ticker: NASDAQ:RIVN
📅 Timeframe: Daily Chart
📊 Pattern: Falling Wedge
📉 Understanding the Falling Wedge Pattern:
A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it indicates diminishing selling pressure and the potential for a reversal. This pattern suggests the possibility of an upward price movement.
🔍 Identifying the Falling Wedge on NASDAQ:RIVN :
Upon analyzing the daily chart of NASDAQ:RIVN , the following observations come to light:
1️⃣ Recent downtrend: NASDAQ:RIVN has experienced a decline in price over the past weeks.
2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows.
3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure.
📈 Price Targets and Trading Strategy:
If the falling wedge pattern on NASDAQ:RIVN plays out as anticipated, a potential bullish breakout above the upper trendline might occur, triggering a reversal and potential price appreciation. Consider the following price targets:
1️⃣ Target 1: Resistance level near $100.00
2️⃣ Target 2: Psychological resistance near $120.00
🛡️ Risk Management:
Proper risk management is essential for successful trading. Implement the following risk management techniques:
1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price fluctuations.
2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy.
🔔 Conclusion:
Stay vigilant as Rivian Automotive ( NASDAQ:RIVN ) continues to develop this falling wedge pattern. The formation suggests the potential for a bullish reversal in the near future. However, remember that technical analysis is not foolproof, and market conditions can change rapidly. Consider integrating this analysis with other relevant factors before making trading decisions.
Disclaimer: This post is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Happy Trading! 📈💰
#tradingview #technicalanalysis #fallingwedge #bullishreversal #RIVN #stockanalysis #chartpatterns #tradingstrategies #investing #finance #marketanalysis
Reversal Potential on $XLM: Falling Wedge PatternHello, Traders! Today, I want to share an exciting technical analysis finding on the cryptocurrency Stellar Lumens ( LSE:XLM ). A falling wedge pattern has been identified, indicating the potential for a bullish reversal in the near future. Let's dive into the details!
📈 Ticker: LSE:XLM
📅 Timeframe: Daily Chart
📊 Pattern: Falling Wedge
📉 Understanding the Falling Wedge Pattern:
A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it suggests diminishing selling pressure and the potential for a reversal. This pattern indicates the possibility of an upward price movement.
🔍 Identifying the Falling Wedge on LSE:XLM :
Upon analyzing the daily chart of LSE:XLM , the following observations come to light:
1️⃣ Recent downtrend: LSE:XLM has experienced a decline in price over the past weeks.
2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows.
3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure.
📈 Price Targets and Trading Strategy:
If the falling wedge pattern on LSE:XLM plays out as anticipated, a potential bullish breakout above the upper trendline may occur, leading to a reversal and potential price appreciation. Consider the following price targets:
1️⃣ Target 1: Resistance level near $0.40
2️⃣ Target 2: Psychological resistance near $0.50
🛡️ Risk Management:
Managing risk is crucial for successful trading. Implement the following risk management techniques:
1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements.
2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy.
🔔 Conclusion:
Keep a close eye on Stellar Lumens ( LSE:XLM ) as it develops this falling wedge pattern. The pattern suggests the potential for a bullish reversal on the horizon. However, please note that technical analysis is not infallible, and market conditions can change rapidly. Combine this analysis with other relevant factors before making any trading decisions.
Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Happy Trading! 📈💰
#tradingview #technicalanalysis #fallingwedge #bullishreversal #xlm #cryptocurrency #chartpatterns #tradingstrategies #investing #finance #marketanalysis
falling wedge presentHave you bought your Special K?. A beautiful falling wedge, support at resistance well tested, and ready to bounce, 17% to the upside.
Another quality stock consolidating
bitcoin long setup Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
Bitcoin - Massive breakout soon! (pitchfork + falling wedge)
As we can see, the uptrend is broken! The pitchfork on the daily chart was the last hope for the bulls, and it has been destroyed by the bears. What's more, the price of Bitcoin from 31k to the current price has a 5-wave structure (impulsive) instead of a 3-wave structure (corrective).
The chance of going to 15k has increased dramatically at this point, and I believe we can continue even lower, to 10k this year. We still need to wait 10 months for the halving event to potentially push the price higher. For the long term, I would start buying Bitcoin at 15k; it's a very good price, and even if it drops temporarily to 10k or 6k, it's not that big of a deal and you can buy even more. It's still a much better price than 30k or 50k.
Now the price is printing a leading diagonal (falling wedge) at the top of the trend. Usually, you want to see falling wedges at the bottom of a trend, not at the top of a trend. This is a potentially very good opportunity for the bears because it transforms the general bullish falling wedge pattern into a bearish falling wedge pattern. I can tell you one thing: if the price goes above the wedge, which is possible, it will be a total bull trap and fake out, so if you buy it, a huge dump will follow!
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 post trade setups privately.
From the Elliott Wave perspective, the trend from 15k to 31k is at this point only a 3-wave bearish ABC structure. I can see only 1 major correction, and it's from 25k to 19k, which happened in February / March 2023. But this ABC correction is still not confirmed because it could transform into an impulse wave because the price is still above the wave (A).
On the road to 15k or 10k, we have a lot of major support. All these levels can be found in my previous idea in the related section down below, so you can use them for your trading decisions or analyses.
Bitcoin has been going pretty much sideways for almost 3 months, so there is massive volatility expected. The waiting time is almost over!
Also, Bitcoin was created by the banks, so if you want to know more, check out the related section again! There are my 2 previous ideas.
Thank you, and for more ideas, hit "Like" and "Follow"!
SPX 3x Short ETF Hedge PlayThe SPX looks like it is ready to give us a moderate pullback so I will be playing this via multi-week call options on this 3x-Short SPX Bear ETF
HANGSENG Expected To Continuously Rise
1D - Retested the previous long-term downward trend line (red circle) and is rising again, and a falling wedge pattern is also underway.
Currently, the downward trend line (blue circle) that began on Jan. 30, 2023 has broken through, with only 19725 support likely to rise to 21047-21752/22400-2260.
1W
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I think there will be a warm wind in the Chinese market in the second half of this year.
