Get started

Fallingwedgebreak

Likely Breakout to 8-10 cents after failed BreakdownHBAR recently saw a failed breakdown its 4h falling wedge (dotted) and its daily falling wedge (solid). Since then it has risen back to wedge top, breaking wedge top on the 4h and now attempting to do so on the daily. We also saw the largest daily green volume bar ever printed on Coinbase when it moved back up into the wedge, though that is likely somewhat related to exchanges shutting down or traders moving assets over to CB from Binance US. Highly unlikely we do not get and maintain a bullish breakout now after having failed the bearish breakdown, unless Bitcoin shows a strong rejection at 30k. In that case, potentially we see it drop back down to daily wedge bottom before trying again. Targets of 8 and 10 cents approx, are based on the daily wedge's 1x and 1.5x measured moves.
COINBASE:HBARUSDLong
by dudebruhwhoa
📉 Major Falling Wedge Setup on $STORJ 🚀Hello, fellow traders! Today, I've identified a significant trading opportunity on $STORJ with a major falling wedge pattern. Let's take a closer look: 📈 Technical Analysis: $STORJ has been forming a well-defined falling wedge pattern, indicating a potential reversal in the current downtrend. Falling wedges are bullish chart patterns that often precede a breakout to the upside, making this setup particularly intriguing. 📉 Wedge Structure: The falling wedge is characterized by a series of lower highs and lower lows, converging towards a point. This tightening price range suggests diminishing selling pressure and a possible shift in market sentiment. Keep an eye on the wedge's boundaries for potential breakouts. 🔍 Key Levels to Monitor: Resistance: Watch the upper boundary of the falling wedge as a crucial level that needs to be breached for a bullish breakout. Support: Monitor the lower boundary of the wedge, which acts as a key support level. 📢 Potential Breakout: A decisive breakout above the wedge's resistance, accompanied by a surge in trading volume, could signal a bullish move. This breakout might lead to a reversal in the downtrend and potentially provide an opportunity for profits. 💡 Trading Strategy: Consider initiating a long position on a confirmed breakout above the wedge's resistance level. It's essential to manage risk by setting a stop-loss order below the support level. Keep an eye on the overall market conditions and ensure proper risk management before entering any trades. Please conduct your own analysis and exercise caution while trading. 📢 Disclaimer: This post is for educational purposes only and should not be construed as financial advice. Let's stay tuned and follow the action on $STORJ! Share your thoughts and join the discussion below. #TradingView #FallingWedgeSetup #STORJ #Cryptocurrency #TechnicalAnalysis #BullishReversal #BreakoutPattern
CRYPTO:STORJUSDLong
by STP_MrNodeItAll