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Falling Wedge

BTCUSDT 1W INSIGHTAt the time of writing, Bitcoin is trading in the range of 27,400 to 27,600. This level suggests a period of consolidation and potential market indecision. However, it is important to note that a bullish order block has been identified at the 17,000 level. This indicates a strong support zone, which could provide a foundation for upward price movement in the future. Furthermore, the stochastic oscillator, a popular momentum indicator, is currently indicating an overdue condition. This implies that the market may have been overbought and could potentially experience a correction in the near term. In my professional opinion, a market correction seems likely based on the available information. However, please remember that market movements are influenced by numerous factors and involve inherent uncertainty. Therefore, it is essential to conduct your own research and exercise caution when making investment decisions. Looking ahead, if Bitcoin undergoes a correction, it could create opportunities for traders and investors to enter the market at more favorable prices. However, it's crucial to note that the potential target price of 100,000 or above, which I anticipate in the coming months or years, is purely speculative and should be treated as such. In addition, recent events such as the Bittrex bankruptcy have not significantly affected Bitcoin's price, which can be viewed as a positive sign of resilience and market stability. However, it is important to stay informed about developments in the cryptocurrency space, as unexpected events can influence market dynamics. Remember, this analysis is based on technical indicators and my own perspective. It is always wise to consider multiple viewpoints and consult with a qualified financial advisor before making any investment decisions.
CRYPTO:BTCUSD
by shirus0001
2
#TATAPOWER: Falling Wedge Formation with Possible Breakout TATAPOWER, a stock that has been forming a falling wedge pattern with potential breakout and reversal levels. As you can see from the chart, #TATAPOWER has been forming a falling wedge pattern, with the price oscillating between two downward sloping trendlines. This can be a bullish signal, as the stock is trading in a contracting range and may be preparing for a breakout to the upside. A breakout could occur if the stock closes above the 210 level, which would indicate a potential reversal in the short-term downtrend. It's important to keep in mind that a breakout is not guaranteed, but it's worth keeping #TATAPOWER on your watchlist to see how the stock performs in the coming days. In terms of support levels, there are two key levels to watch: 188 and 177. If the stock breaks below these levels, it may indicate a continuation of the downtrend and could lead to further downside. However, if the stock does break out above 210 and shows a strong close above 208, it may be a good opportunity to buy the stock. There are potential targets for the stock at 233, 250, and 270+. In summary, #TATAPOWER has been forming a falling wedge pattern with potential breakout and reversal levels. It's important to monitor the stock closely and wait for a strong close above 208 before considering a buy.
NSE:TATAPOWERLong
by Jha_Nidhi
BTC upcoming targets for 2023. 36-37K? Hi dear community members and my loyal followers. Let me update my BTC ideas for coming weeks and months. As you see I'm looking at weekly timeframe. After breaking out weekly falling wedge/main diagonal trendline/ BTC reached 25K, then dumped to 19.5K as I posted in my early analyses and bounced back to the same level but this time it succeeded breaking out main horizontal resistance at 25-25.3K zone taking out BSL liquidity above it and reached the main and one of the strongest resistance 28.6-30.5K zone. At the moment we see that BTC rejected at 30.5K zone and droped to 28K. What is my expectations. If BTC loses 27.7-28K zone it will dump to 25-25.3K zone, sweep liquidity below 26.6-26.7K zone and at the same time it will test main horizontal support which is 5D GC upper band. /All charts attached below this analysis. But my highly probable scenario is- BTC will pump from 27.7-28K region to 31.5K filling FVG zone and taking out liquidity above 30K/equal highs/, reaching upper band of weekly GC which is 31.5K after that maybe BTC will dump to middle band of weekly GC or upper band of 5D GC liquidating late longs. It also will give room for alts to explode. I'm sure BTC will hold 25-25.3K. I expect BTC to hold 27.7-28K zone coz Market makers bought and are buying huge amount of BTC at that zone. As soon as BTC reached 31.5K I will update it will pump straight to 36-37K or it will dump to 25-25.3K zone, or it will move sideways letting altcoins to burst./ Based on Total 2 and Total 3 mini Altseason 2023 is going to start in coming days and weeks. In worst case BTC can dump to 25-25.3K zone before reaching 36-37K FVG zone my first target in coming weeks. People who expect lower prices like 18.5-19K even lower 8-12K, they will be destroyed. My minimum target for 2023 is 36-37K then 48K+/52-53K/ and my main target for 2023 is 72-74K.
BITSTAMP:BTCUSDLong
by ergal91
10
CAD-JPY| LONG SETUP|POSSIBLE REVERSAL|FALLING WEDGE|ONE HOURCAD-JPY is moving in a bearish direction. It appears that there is a formation of Falling Wedge Reversal Pattern as well as presence of the Divergence. In this case, this Forex instrument can take a possible reversal from its current price position. Therefore, a long trade setup is suggested in this chart in case of breakout from the ENTRY POINT mentioned in the chart. Risk must be taken up to 2% of the total portfolio.
Long
by haroonsiddiki
Bitcoin - Last chance for the bulls or 10k! (important range) This is the last chance for the bulls to hold this very key range; otherwise, it will be devastating for the price of Bitcoin. If this range fails, it will trigger a 3rd impulse wave, which is usually an incredible flash crash. You want to be in USDT if this happens. I am already prepared for it, so I am good. From the Elliott Wave perspective, we have a strong bearish setup, and usually what you want to do is catch the third wave and short Bitcoin, of course, on the futures market. Third waves provide the best risk-to-reward ratio and are also the most time-efficient because you will close your position pretty quickly. 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. Could Bitcoin still pump to 32K? Of course it could, but the chances are lowering, and you don't want to speculate on it at all because speculating on 5th waves involves a lot of risk, such as a truncated 5th wave, a swing failure pattern, or it can completely fail and turn into an ABC wave. If this range fails, the next stop is 25K and then 20K. I shared with you my levels and where Bitcoin could bounce off them, so make sure you check out my previous idea in the related section down below! You want to use these important levels. The true bull market will start in January 2024, as per my calculations. Thank you, and for more ideas, hit "Like" and "Follow"!
by UnknownUnicorn2537518
101
The end of bear market? SPX is pointing to a bull market trend.The analysis provided suggests that the SPY (SPDR S&P 500 ETF Trust) has broken out of a falling wedge pattern that began in January 2022 and is now on the verge of breaking out of an ascending triangle pattern. The falling wedge pattern is typically a bullish continuation pattern, while the ascending triangle is also a bullish pattern that signifies a potential continuation of an upward price trend. Additionally, the analysis notes that triangle patterns are often observed following strong and extended price trends, as buyers and sellers test the new price of a stock and become more or less aggressive over time. Ascending triangles are considered to be bullish signals, indicating a potential continuation of the upward price trend, while descending triangles are considered to be bearish signals, indicating a potential reversal of the upward price trend. Based on the analysis provided, the expectation is that the SPY will continue its bullish trend and break out of the ascending triangle pattern. However, the analysis also mentions the possibility of a seasonal push down in September/October, which may cause a temporary dip in the price of the SPY. Nonetheless, the analysis suggests that this dip will not push the SPY back into bear territory. To further expand on this analysis, it's important to consider other technical indicators and market factors that could impact the SPY's price movement. For example, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are popular technical indicators that can help confirm bullish or bearish trends and potential price reversals. Additionally, market news and events, such as economic data releases, corporate earnings reports, and geopolitical tensions, can also impact the SPY's price movement. Furthermore, it's important to note that technical analysis is not infallible, and there are always risks and uncertainties associated with investing in the stock market. It's essential to conduct thorough research and analysis, diversify your portfolio, and consult with a financial advisor before making any investment decisions.
SP:SPXLong
by uoi2020
11
Bitcoin + Comment Your Altcoin!Below this idea, I will give you my opinion/analysis of your altcoin. Make sure you hit the boost button and comment your altcoin below the idea to participate. I will do an analysis on the weekly/daily chart (long term). I start my analysis with Bitcoin: Bitcoin is currently rising, but in my opinion, there will be one last flash crash below the 16k level to wipe out all leverage traders. There are tons of liquidity and stop losses to be gained. In this corrective wave, bitcoin could hit 30k - 39k, both targets are very arguable, so I am currently bullish in the short-term. I am waiting patiently for the flash crash to buy cheap Bitcoin, and of course I want to ride the huge bull market to 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 post trade setups privately. As per my Elliott Wave analysis, we are in the final C impulse wave (ZigZag 5-3-5). ZigZags are often very impulsive, which is true in this case. Also, do not forget that we have an unfilled GAP on CME futures at 20k. Statistically, all gaps were at least partially filled. This gap is completely unfilled, so make sure you understand that you are going against 100% historical probability and performance if you are fully long on Bitcoin. My favorite altcoins are now Waves and Floki. Do not forget to write your altcoin in the comment section for my analysis/opinion + hit the boost button to participate! Thank you, and I wish you fun during your trades.
by UnknownUnicorn2537518
1.2 K
Wealth Unleashed: Wedge Pattern Power - Hidden Gem Revealed!Introduction: Are you looking to skyrocket your trading profits? Look no further! Today, we will uncover the hidden gem of trading patterns: the Wedge Pattern. This powerful tool has the potential to transform your trading strategy and help you achieve financial success. Let's dive into the world of wedge patterns and explore how you can capitalize on their power. What are Wedge Patterns? Wedge patterns are popular among traders due to their high probability of forecasting trend reversals. These patterns appear when the price of an asset consolidates between converging support and resistance lines. There are two primary types of wedge patterns: the rising wedge and the falling wedge. Rising Wedge: In an upward trend, the rising wedge is considered a bearish pattern. It forms when the price consolidates between an upward-sloping support line and an upward-sloping resistance line that are converging. As the price approaches the apex of the wedge, the upward momentum weakens, signaling a potential trend reversal to the downside. Falling Wedge: Contrary to the rising wedge, the falling wedge is a bullish pattern. It appears in a downward trend when the price consolidates between a downward-sloping support line and a downward-sloping resistance line that are converging. As the price nears the apex of the wedge, the downward momentum loses strength, indicating a possible trend reversal to the upside. Trading Strategies: To capitalize on the power of wedge patterns, follow these steps: ✅Identify the pattern: Observe the chart for converging support and resistance lines to spot a rising or falling wedge pattern. ✅Confirmation: Wait for a breakout from the wedge pattern, either above the resistance line (for falling wedges) or below the support line (for rising wedges). ✅Entry point: Open a long position after a breakout above the resistance line in a falling wedge, or a short position after a breakout below the support line in a rising wedge. ✅Stop-loss and take-profit: Set your stop-loss order below the breakout level (for falling wedges) or above the breakout level (for rising wedges). Establish your take-profit target at a level that aligns with your risk-reward ratio and trading plan. Conclusion: The wedge pattern is a hidden gem that can potentially boost your trading profits when used correctly. By mastering the art of identifying and trading wedge patterns, you can strengthen your technical analysis skills and increase your chances of success in the market. Remember, no single tool guarantees success, so always use additional technical indicators and maintain a disciplined approach to risk management. Happy trading!
Education
by Yaroslav_Krasko
FITFIUSD: Falling Wedge and a Bullish Deep CrabThis one doesn't really have any Divergence Variables going for it nor is it really at any form of Support but it is breaking out and backtesting an okay looking Falling Wedge and has completed a decent looking Bullish Deep Crab while being oversold on the RSI and that's enough to catch my attention; if it were to make a common 0.618 retrace from the previous local range high to low that would be an 11x move so it's worth the risk in my opinion.
Long
by RizeSenpai
2
My BTC top /new ATH in 2023 & 2024-2025 scenarios!!! BTCUSDT Hi dear community and my loyal followers. I'm leaving here my highly probable 2 scenarios for BTC top/new ATH in 2023 & 2024-2025. 99% in crypto expect new ATH in 2024-2025 after halving and expect history to be repeated but what if they will be wrong and BTC hits new ATH in 2023 and surprises everyone and enters to long & devastating bear market in 2024-2025 and don't satisfy needs of the herd)). I like doing the opposite what majority expects and go against the herd. But I'm ready for both scenarios))). As you see on the charts I draw my targets and path for BTC in 2023 and in 2024-2025. My max target for 2023 will; be 72-85K based on my previous analyses I posted earlier/ They are targets I calculated based on Fib levles, Bullish megaphone chart pattern, Elliott waves etc. And my max target for 2024-2025 after halving event will be 150-180K again based on fib levels, major trendlines, some secret projections, my experience & chart patterns. But if BTC hits new ATH in 2024-2025, we'll see huge and deep correction at 48-53K zone and dump to 22-25K zone. We'll come back to this analyses in couple months or in 2 years))) In any case be prepared for both scenarios. Stay safe and be level headed. I'm bullish in 2023. If you like my ideas and analyses, don't forget to like, comment, share my ideas, and follow please. I"ll appreciate any single follow and any kind of support. I wish you good trades and huge profits.
BITSTAMP:BTCUSDLong
by ergal91
5
TIDLOR | Wave Analysis | Falling Wedge Breakout-Bull DivergencePrice action and chart pattern trading: > A possible ABC correction - C-wave trend reversal in progress > Falling wedge local trend breakout EMA20D resistance making an inverse head & shoulders pattern. > TP1 @ SMMA50 as key dynamic resistance and TP2 @SMMA200 with +20%++ upside > Entry @ Neckline breakout with Stoploss @ H&S head position -8% > Risk reward ratio: 2.5:1 Always trade with affordable risk and respect your stoploss!
SET:TIDLORLong
by dukeposh