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Falling Wedge

BTC QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. Currently, it is trading around the 26.4K level. According to the chart, BTC is trading inside a falling wedge-like structure which is generally a bullish pattern. After the SEC sued's Binance and Coinbase markets took a dip but recovered strongly within a few hours and this dip made a deviation below the wedge. As of now price is holding the $26.2k support so we can expect a bounce back from here. The real resistance is at the $27.5k level. Once we break and close above this level expect a good move up to the $32k- BER:33K level. Also, keep in mind that if we go again below the wedge and close it then bears will take full control and we might see a heavy dump in that case. As of now, it looks fine to me and looks even better if we are able to break the wedge. if you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
1
USDCAD I Bullish CAD News but in the rangeWelcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
3
BTC 0 or hero? 📈 Chart Analysis: falling wedge: Top tip wait for breakout and retest of the AVWAP before taking a long, however we did get an engulfing candle on the reaction from the 150ema so i have gone long already trying to front run patterns is not the best thing to do so be cautious if you are to do the same! We got the retest of the Head and Shoulders resistance in prep for the latest sec vs binance news which took us to out first target 150EMA: top tip play any SHORTS super carefully here as the reaction from the 150 was extremely bullish but know we could still see out lower avwap target currently at the 18k area 😉 additional info! Currently in a Stage 3: where we look for Bullish continuation patterns (falling wedge) and/or topping patterns Head and shoulders OBV still in a stage 1 and looking weak! 🔔 Risk Management: Adjust your position size based on your risk tolerance and use proper risk management strategies, such as trailing stop losses, to lock in profits as the price moves in your favor. ⚠️ Disclaimer: This analysis is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
BITSTAMP:BTCUSD
by mammamia2
Bullish Breakout Imminent for Bitcoin Amidst Falling WedgeBitcoin is currently forming a falling wedge pattern, a bullish chart pattern that is typically seen during downward trends. This pattern is characterized by a narrowing range with lower highs and lower lows. The falling wedge suggests that the selling pressure is starting to weaken and a breakout to the upside is likely. Over the past 24 hours, it has seen a change of approximately 4.6%, indicating a positive momentum. The volume over the past 24 hours has been substantial, further supporting the potential for a breakout. The falling wedge pattern is nearing its apex where the upper and lower trendlines converge. This is typically where a breakout occurs. If BTC touches the higher level of the wedge, we could see a bullish breakout. However, it's important to note that while the technical analysis suggests a bullish scenario, the future of the market is never certain. In terms of news sentiment, the overall outlook for Bitcoin remains positive. Recent news highlights include the launch of Bitcoin NFTs on the Binance NFT Marketplace, and the price of Bitcoin breaking the $26,000 mark. However, there are also regulatory concerns, with Coinbase facing scrutiny from U.S. State Securities Regulators and the SEC suing Coinbase for alleged securities law violations. These developments could have an impact on the broader crypto market, including Bitcoin. In terms of trading strategy, traders should watch for a breakout above the upper trendline of the falling wedge pattern. If this occurs, it could be a good opportunity to enter a long position. However, it's also important to set a stop loss to manage risk. A stop loss could be set below the lower trendline of the wedge. Traders should be aware of the technical resistance levels at 29048, 29143, and 29813, which might experience selling pressure. On the upside, if the bullish momentum continues, price objectives could be around the 30420.74, 31237.11, and 31477.37 levels, and potentially as high as 38403.97. On the downside, support is expected around 25604.51, 24440.41, and 22769.39, with stop losses suggested below these levels​. In conclusion, while the technical analysis and current trends suggest a bullish outlook for Bitcoin, traders should always be prepared for different scenarios. Always remember to manage your risk and trade responsibly. Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Always do your own research and consult with a professional before making any financial decisions.
Long
by bonsai_trade
3
Down to 5.5 and Lower or Back to ATH at 19.4Scenario A: - Confirmed Head/Shoulders top, successful re-test and then down to 5.5% - Likely headed much lower after losing the lower trendline of a long-term rising wedge, which has also been successfully re-tested and has continued down - Possible because of two confirmed patterns and re-tests. Scenario B: - Unconfirmed Falling Wedge, which if it breaks up from will target ATH at 19.4% and bring us back into the rising wedge on pending a 2nd re-test. - Double-top and then true exit of the rising wedge before heading much lower - Possible because this behavior would be similar to the behavior following its previous set of peaks in 2017-18.
CRYPTOCAP:OTHERS.D
by dudebruhwhoa
1
💎 Ethereum (ETH) is on the rise! 💎 The price surged by an impressive move on May 28 surpassing a key resistance level and consolidating around $1,894 since then. 💎 This consolidation phase provides an excellent opportunity for Paradisers to consider accumulating ETH, especially if there is a pullback towards the stable support level at $1,853. 💎 The bullish thesis for Ethereum price would be invalidated if it breaks down below the $1,829 support level. 💎 As Ethereum continues its journey, it's essential to closely monitor these key levels and market dynamics Stay tuned and make your moves wisely! 💪💎
BITSTAMP:ETHUSD
by MyCryptoParadise_Simon
Bitcoin -> Look At The Daily PatternHello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was now turned resistance at the $30.000 level. You can also see that there is a next weekly support zone coming in at the $25.000 area, so I am now just waiting for Bitcoin to retest this next demand level before I then do expect another weekly rally towards the upside. On the daily timeframe you can see that over the past couple of days Bitcoin has been forming a very obvious falling wedge formation which is normally a bullish (continuation) pattern, so I am now just waiting for a breakout above resistance trendline and then I do expect another daily push to retest the $30.000 area. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
BITSTAMP:BTCUSDLong
by basictradingtv
39
Black swan event or pump? $BTC update!📈 Chart Analysis: Potential falling wedge: Top tip wait for breakout and retest of the AVWAP before taking a long Are we retesting the Head and Shoulders resistance in prep for a "Black Swan" event that will take us to our low target?: top tip for an early SHORT position you could take the short now and place a stop above the highest high of this retest OR on the falling wedge break out area ;) additional info! Currently in a Stage 3: where we look for Bullish continuation patterns (falling wedge) and/or topping patterns Head and shoulders OBV still in a stage 1 and looking weak! 🔔 Risk Management: Adjust your position size based on your risk tolerance and use proper risk management strategies, such as trailing stop losses, to lock in profits as the price moves in your favor. ⚠️ Disclaimer: This analysis is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
BITSTAMP:BTCUSD
by mammamia2
$SOLUSD - Falling wedgeHi guys! 👋🏻 🔔 Solana is forming a falling Wedge and waiting for a breakout to reach the targets 🔔 New Ethereum - Solana bridge which is an EVM on Solana coming, so expecting a high impact of this product on both blockchains. 🔔 Falling wedge is a sign for a trend reversal. Breakout will signal for an uptrend in this case. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
BITSTAMP:SOLUSDLong
by azizelliott
1
Suku to 10-11 cents?Suku broke out of a falling wedge here. Earlier charts I've posted were expecting 10-11 cents, even up to 13-15. Let's see if it finally gets there after the long consolidation from its move up earlier in the year, in January. Some confluence from the OBV indicator to support this - on balance volume has been consistently rising throughout the consolidation within the wedge. Note that last time OBV was at this level, back in January, was when we saw the last larger move up. Going against this - DXY may be in for a strong move up soon. It could be delayed or even move down instead, but if it gets a strong move up, I imagine this is going down, or at least not going much further beyond the previously mentioned targets. This applies to pretty much everything right now:
COINBASE:SUKUUSDLong
by dudebruhwhoa
1
I Cannot Short This !!!🌟The MATICUSDT is in a Bullish phase by reaching a PRZ zone & is in a Falling Wedge Pattern. 🌟 Bullish signals in the PRZ area are: - Support zone - Pivot S1 monthly - The Bottom of the Wedge area - Falling Wedge Pattern ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles or Wedge broken from the bottom , this analysis of ours will be failed. ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
MLong
by CobraVanguard
✅LTC is about To do a Bullish movement!🌟The LTCUSD is in a Bullish phase by reaching a PRZ zone & is in a Falling Wedge Pattern. 🌟 Bullish signals in the PRZ area are: - Support zone - Pivot S1 monthly - Bullish Channel - The Bottom of the Wedge area - Falling Wedge Pattern - Moving EMA100 ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles or Wedge broken from the bottom , this analysis of ours will be failed. ✅Investing in something that is easy is rarely profitable. Robert D. Arnott ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
COINBASE:ETHUSDLong
by CobraVanguard
9
Bitcoin + Comment your altcoin!Do a comment on your altcoin below this idea, and I will give you my opinion/analysis of it! Make sure you hit the boost button as well to participate. I will answer your comment with an analysis for you on the weekly/daily chart (long term). I start my analysis with Bitcoin: I am bearish on BTC, and we are going to reach 15k - 10k later this year. Also, there is a possibility of going down to 6k and I will tell you why. Why 15k, 10k, or 6k? 1) 15k - We have a LOG Fibonacci retracement slightly below the 15k level, and the previous swing low at 15450 should be destroyed to complete the ABC correction. Also, there are lots of stop loss orders below this swing low, and we can do a swing failure pattern. Big players can take advantage of it and buy a large amount of Bitcoin at this level. 2) 10k - There is a huge Fibonacci confluence. The 0.618 LOG FIB retracement of the previous impulse wave is definitely a strong support for Bitcoin. The FIB extension from the start of wave A => the end of wave A => the end of wave B gives us the 0.382 projection. As you can see on my chart, these 2 FIBs are close to each other. 3) 6k - If you remember a huge triangle from 2018, we can test the POC of it. Also, there is a fair value GAP and a 0.764 FIB extension. I don't think we are going that low; that's why I give it only a 20% chance. 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. This pump from 15k to 32k is a bull trap and a fake pump. I do not have too much trust in it. We are going to find the bottom between October 2023 and January 2024. The majority of altcoins look totally terrible, and I do not see any upcoming bull market. But I look forward to 2024; I think it's going to be a very bullish year, together with 2025. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
267
Bitcoin - Secret trendline from 2013 is breaking down! (unreal) I never talk with empty words, and in this analysis I will give you the main reason why bitcoin could crash to 15k - 10k in the next few months. No one talks about this trendline from 2013, so it's a big deal. The trendline is already broken, and the bulls retested it a couple weeks ago. It's a classic retest. Usually, you want to wait for the retest and then short it. I want to tell you that this trendline is parabolic, and if it is reclaimed and followed, then theoretically, the price of Bitcoin will be around 5 000 000 dollars in 2030. This is unlikely. 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. What's more, the 200-week moving average has been broken for the first time (a negative sign). We still need to wait almost a year for this halving event. Meanwhile, we could experience a huge flash crash to liquidate high-leverage traders with a strong and steep rebound back to 32k. Bitcoin is very volatile, and a 50% or 80% crash is nothing. January 2024 could be the bottom for Bitcoin. Shorting Bitcoin is pretty good because it provides a very good risk-to-reward ratio compared to other altcoins on the weekly chart. It's because your profit on shorts practically cannot be more than 99.99% compared to your profit on longs, where your profit is unlimited. Your stop loss on BTC short could be, for example, 5% and on altcoins, 20%, with the same trade setup and same strategy, so it improves your risk-to-reward ratio on Bitcoin shorts. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDShort
by UnknownUnicorn2537518
196