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Falling Wedge

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
JASMYUSDT wants the bounce?JASMYUSDT is forming a falling wedge pattern on the 0.005 support area, which could potentially provide a bullish signal for traders. A falling wedge is a chart pattern that occurs when the price of an asset forms a series of lower highs and lower lows, but the range between the highs and lows narrows over time. This creates a wedge-like shape on the chart, and is typically seen as a bullish reversal pattern. In the case of JASMYUSDT, the falling wedge is forming on the 0.005 support area, which means that the price has been consistently testing this level but has not been able to break below it. This could indicate that there is strong buying pressure at this level, and that traders are looking to enter the market. For a potential bullish breakout to occur, the price of JASMYUSDT needs to create a breakout from the 0.006 resistance level, which has previously acted as a key level of resistance. If the price manages to break above this level and confirm it as a new support level, this could provide a strong bullish signal for traders. According to Plancton's rules, a set of technical analysis rules used by traders, a breakout from the falling wedge pattern combined with a confirmed breakout above the 0.006 resistance level could indicate a new long position for traders. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
Bitcoin to 10K! Disgusting This is a bearish technical analysis of Bitcoin. It's supported by technical tools, and I am not saying this is going to happen; this is just a scenario because we need to consider all possibilities. First of all, we need to take a look at the bearish wave from November 2021 to November 2022. It definitely looks like an impulse wave; it's pretty obvious, but I have seen a lot of failed impulses on the other side. 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. Since November 2022, Bitcoin has been going upward. The wave looks very strong, and I think we will reach levels above 25K before a potential drop to 10k to complete an ABC correction. It's very likely that this is going to happen. Currently we are in wave B, which is a corrective wave, and we could end this wave at around 20k or 19k at the 0.618 FIB retracement. I do not watch news often, to be honest; I am more of a technical guy, but I can't ignore the Binance bad news. There is speculation about the closing of the Binance US exchange, and their stable coin, Binance USD (BUSD), has some problems as well. But I am not surprised at all. A potential collapse of Binance could send Bitcoin to 10k in just a matter of days. For example, you can take a look at the COVID crash in 2020; it was a pretty fast liquidation of longs. 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. Like I said before, this analysis is just a scenario that could happen to give you more perspective on the market. I always have a bullish and a bearish scenario ready to execute, so it's not about being wrong or right; this is not how you trade markets. Let me know in the comment section, do you think Bitcoin is going to drop to 10k? Or we are going to a new all time high. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
99
XRP - Final 50% crash, life-time opportunity to buy! XRP will give you a life-time opportunity to buy for an extremely cheap price, around 0.18 USDT! It's going to happen probably very soon, so make sure you are prepared! This is a whole chart of XRP from 2016 to 2023. As you can see, the massive pump in 2017 was very strong, and right now XRP has been consolidating in this bullish regular flat pattern (3-3-5). My calculations say that we are at the end of the pattern, specifically in wave 5 of wave C. If we look at the local price action from 2022–2023, we can spot a bearish head and shoulders pattern. The bears are going to send XRP lower, to around 0.18 USDT. What's more, there is a falling wedge pattern. It's hard to see a breakout at this moment, and it's likely to hit the bottom of the wedge instead. Which is a 50% drop. We should find a support at the bottom of the falling wedge! This is your once-in-a-lifetime opportunity for a 20x profit in the next few months / years. 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. We don't know how the pump is going to look, but you will not have too much time to enter because the market moves aggressively to the upside while going sideways very slowly. I expect a huge green dildo on the weekly and monthly charts. This analysis is like no other. No one will give you an Elliott Wave count on XRP from the beginning. If you know about anyone, let me know in the comment section; I want to follow him. My plan is to buy/long XRP around 0.18 USDT for a 20x minimum gain. I am telling you it will be a massive pump, and for the best feeling you want to be in the market. The bears have been waiting for an incredible 5 years, but you do not need to wait; you can simply catch the bottom and take advantage of the massive pump in a short period of time. After that, you can buy some tasty Japanese wagyu. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
48
Adam/Eve Reversal Formation at Falling Wedge BreakoutYFI has both broken out of its falling wedge, and formed an Adam & Eve reversal pattern at the end of that breakout, neckline already has a breakout. Before heading to targets for either (targets on the chart): - I'm expecting it to push just above the 200 day EMA, potentially near the halfway point to its falling wedge TP 1, or around 8800-9k It will likely consolidate around the 200 EMA for a bit before moving on to higher targets, or failing to get above it and re-testing either top of wedge break or Adam/Eve neckline again. Adam/Eve pattern could also be considered a cup & handle - targets would be the same in either case. SUMMARY - if we can eventually get and hold above the 200 EMA, short-term targets are the Adam/Eve TP 1 and 2, and longer-term targets are the falling wedge TP 1 and 2. - meanwhile, look for a move above the 200 EMA to 8800-9k, followed by consolidation around the 200 EMA.
BINANCE:YFIUSDLong
by dudebruhwhoa
5