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Falling Wedge

Bitcoin - The bottom is not in! 15k or 10k (careful) Everyone thinks that the bottom is in and we are going to a new all-time high, but in my opinion, that's definitely not true. In this analysis, I will tell you why! First of all, we need to take a look at the huge dump that occurred in 2021–2022 (from 69k to 15k). From the Elliott Wave perspective, it's most likely an impulse wave, not a corrective wave, because there are no overlaps between swings and the price action was extremely steep and bleedy. Also, there are no triangles in this structure whatsoever. You may say that it's not an impulse but a WXYXZ triple-three corrective pattern. It's possible, but in my opinion, these patterns tend to have more sideways price action than steep. You may also say that it's an ABC correction, but there are clearly 5 waves. We should be in a major corrective B wave followed by a major C wave, which should end between 15k and 10k. I am not saying we will reach 10k for sure, but we should at least take liquidity below 15.5k to complete the ABC correction. That means if you buy Bitcoin now, you will experience a big drawdown on your account. 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. 10k is a strong psychological level, and there is plenty of reason to buy Bitcoin here. 0.618 LOG FIB retracement and the start of the GAP are definitely reasonable targets. Right now, we are clearly in an uptrend on the weekly chart, and Bitcoin could reach 30k to 40k. The invalidation point for this analysis is 45k. If we reach this level, then I am wrong and I will buy BTC and ride the bull market to 150k. Targets will be specified for sure in one of my next analyses, so make sure you follow me and my updates! The potential reversal point for this major corrective wave is, in my opinion, at 30k (strong horizontal support and POC) or 39k (0.618 LOG FIB). Then we should go down to 15k at least. Also, if we take a look at the previous price action from 2018 - 2020, we had an exponencial pump from 3k to 14k followed by an exponencial dump from 14k to 4k. But we didn't take liquidity below the 3k level. This time I expect liquidity to be taken below the 15.5k level. I hope this analysis is clear for you, and considering the upcoming recession and upcoming stock market crash, it's also possible to go down to 15K from a fundamental perspective. Thank you, and for more ideas, hit "Like" and "Follow"!
by UnknownUnicorn2537518
189
BTC UPDATE! NEXT RESISTANCE IS AT $28K-$32K ZONE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this weekly BTC update. Currently, BTC is trading at the $27.5k level and there is no stopping for BTC yet. It continuously pumping from the $19.5k level. Also, it gives a daily close above the $25.5k level which is a bullish sign. Everyone is expecting a pullback but it gives a pullback when no one was expecting it. This is how this market works. According to the chart, the next resistance zone for BTC is the $28k-$32k zone where we can expect some pullback. What do you think about this? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
COINBASE:BTCUSD
by CoreCrypto1
2
Uncovering Wyckoff Accumulation Secret PatternWyckoff Accumulation & Distribution is a trading strategy that was developed by Richard Wyckoff in the early 1900s. It is based on the premise that markets move in cycles and that traders may recognize and use these cycles. In accumulation phase Wyckoff strategy involves identifying a Trading Range where buyers are accumulating shares of a stock before it moves higher. This allows traders to enter into positions at lower prices and benefit from the eventual price increase. Wyckoff Accumulation is an effective way for traders and investors to gain on market movements and make profits from their trades. The Wyckoff Trading Ranges feature a chart pattern called Descending Wedge. This pattern involves two trendlines, one falling and one rising, which converge to form a wedge shape. This pattern indicates that the price of an asset is likely to break out in the direction of the falling trendline. In my understanding, "Continuous Weakness" means a shift away from selling towards buying. Sellers fail to hold the pressure, so buyers take the lead leading in D,E: MARKUP phases. Kind regards Artem Shevelev Please check out my older Education Ideas Consider put like and follow my page for more updates)
BITSTAMP:BTCUSDEducation
by ArShevelev
3
FLOW - Falling Wedge - Back tested perfectlyThe falling wedge pattern is a bullish reversal pattern that is formed when the price consolidates between two downward sloping trend lines. This pattern is characterized by a narrowing price range as the price approaches the apex of the wedge. The breakout from this pattern is usually to the upside, indicating a potential trend reversal. In this case, we have identified a falling wedge pattern with a swing target to the top of the wedge around $27. Traders can look for a breakout above the upper trend line of the wedge to confirm the reversal and enter a long position. Once the breakout occurs, traders can set their target around the top of the wedge at $27. It is important to use proper risk management techniques such as setting a stop loss to protect against potential losses. Overall, the falling wedge pattern can be a powerful tool for identifying potential trend reversals and trading opportunities. By understanding the pattern and using proper risk management techniques, traders can potentially profit from the expected bullish movement.
CRYPTO:FLOWUSDLong
by STP_MrNodeItAll
7
POTENTIAL BUY TRADE ON GBPJPY -BREAKOUT OF FALLING WEDGE PATTERNAs it can be seen from the chart, GBPJPY broke a critical resistance price level which has since then been retested. Evidently, it has successfully retested that level which has now become a strong level of support. In conjunction with the break and retest of the key level, GBPJPY has broken out of a bullish falling wedge pattern, increasing the probability of this trade being successful and reaching the expected price target. *NOT FINANCIAL ADVICE, MERELY AN OPINION*
Long
by Trader856