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Pennant

USDJPY - In for a short term correctionDollar is loosing steam this week after the huge push up we've seen recently, Here we can see an ascending pennant, a textbook favorite, that is breaking down with a strong H2 engulfing making it look like it could go back to support It's a counter trend trade, so we have to be carefull, and expect less The ascending pennant is a reversal pattern when it breaks, so, price might want to go get some suport, in this case, it could be : - A fib level - the longer term trendline (the green one) - the 135.00 psychological level Let's see what the market will do with my coins!! Cheers everyone and trade safe!!!
Short
by aemerydufoug
BITCOIN WILL CONTINUE TO FALL!There is really not much else to say about this chart. My ultimate target for what still appears to be a downside correction of BTC is still in H4 demand. We now have a new H4 supply which is of course indicative of the strength of the bears presently. We have a break and retest of an H4 bearish continuation pattern and a diagonal resistance trendline continues to be respected as price steadily falls. All the confluence we need really. I will personally continue to sell BTC - for now anyway.
BITSTAMP:BTCUSDShort
by Moipone_Phakisi
4
Bitcoin Bullas wants to push it higher on Monthly Close!BTC/1H `at the bottom of rising broadening wedge Forming another pennant ` After Pumping into 23.9 yesterday btc gets rejected at a local support and starts to bleed and touches the bottom of the rising broadening wedge The Rejection was heavier than the pump and price endedup consolidating near the bottom of the wedge indicating we might exit it again Also today is **Monthly Close** if btc loses 23K and close below, depending on the momentum of the move we could consider it very bearish Some liquidity Cluster to be taken at 24.6 which can cause bitcoin to legup again if it breaks above 24.7 Please Boost,Follow,Comment if you find it informative Thanks for watching
BINANCE:BTCUSD.PShort
by pcmonk
Ethereum - Final 24% drop before a new all time high! Ethereum is now in an extremely difficult situation because the price is at the resistance of this symmetrical triangle and also inside the bearish rising wedge pattern on the daily chart! These patterns are bearish, so the probability of breaking down is higher at this point. Of course, we can breakout bullish, but do you really want to bet on it? What's more, it looks like the first impulse Elliott wave has been completed, and we should take a look for a potential buying level on the next bull run! An ABC correction is on the way, and in this case personally, I am targeting the previous POC or the 0.618 FIB of the impulse wave, which is a 24% drop. The very good news is that this triangle has impulse waves to the upside and corrective waves to the downside. It's a sign of trend reversal, and that's why I think this symmetrical triangle will break to the upside (later)! I think the bull market has started, but we are still stuck in this symmetrical range. 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 you can clearly see, we have an unfilled GAP, and it is very dangerous to go up without filling it. The reason is that the market will want to fill the gap later, maybe in 2024, and you probably don't want it. So let's fill it now. If you haven't seen my previous very popular idea about "Bitcoin to 18K," "The big crash is coming!" You have to check out the related section down below, because it's absolutely mind-blowing. Currently I am bearish on Ethereum and Bitcoin, but only temporarily until we reach my targets. It's hard to speculate on the breakout of the symmetrical triangle while the price is still inside it. So from my perspective, the probability of going down is 75%. It was a very good rally with tons of profits, but now we need to trade the market differently. Of course, it will be more difficult for the majority of traders, but it is doable! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
61
We going to 35000 this year and 220000 in 2025, proofA bit late- but FED won't be printing money this year, they will figure out inflation is sticky and just do it next year. Gold and Bitcoin, similar assets will do well. The chart of this year looks eerily similar to 2019. Have a look: Top: 2017 Dec 18 - 19700 2022 November 10 - 69000 Exactly four years. Bottom: 2018 Dec 15 - 3650 2022 Nov 22 - 15650 Again, four years. 2019 June: 13,9k 2022 May: 35k Again, four years. Guess when the next top is?
Long
by Heartskull
Bearish Pennant Formation on CADCHF?The CADCHF is currently forming a bearish pennant, which could signal a significant downside move if the price breaks out to the downside, toward the previous swing low at 0.66 from March 2020. This would be a similar pennant pattern (November 2022) leading to a move to the downside, with the price dropping to test the 0.68 support level. Additional downward pressure could come from further weakness in the Canadian Dollar, especially with the employment data due to be released later in the week
Short
by JinDao_Tai
2
IOTAUSDT needs more Liquidity?IOTAUSDThad a false breakout from its daily resistance level and is currently consolidating below it. The market is creating a pennant, which is a common technical chart pattern that can indicate a potential continuation or reversal of the current trend. Traders who follow technical analysis may be watching for a breakout from the pennant pattern to signal the direction of the next price move. However, it is important to note that false breakouts can occur and may lead to significant losses if traders are not careful. In addition, traders should also be aware of the potential for a false breakout on the previous support level. If the price breaks below the support level but quickly rebounds back above it, this could be a false breakout and may lead to further consolidation or a potential reversal of the current trend. ––––– 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
6
Bitcoin to 18k. The big crash is coming! It looks like Bitcoin has completed the first bullish impulse wave, which is a very positive sign for the future, but right now the correction is in progress. As you know, from the Elliott Wave perspective, wave 2 corrections are usually deeper, especially in crypto. 0.618 FIB or even lower is a classic retracement, and because we have a huge unfilled GAP, this is going to happen! 0.618 FIB is at 18658 (LOG), and the start of the gap + POC of the previous consolidation structure is at 16830. Only these two levels are important; the others are insignificant. So you want to buy bitcoin at these points! The market always moves in waves, no doubt about it. The waves in crypto are absolutely different from the stock market because different environments have different personalities. What works on the crypto market doesn't work on the stock market. If someone claims that his bot or trading system works on all markets, including forex, indices, crypto, commodities, and stocks, he is most likely lying to you. It is best to concentrate on a single type of market; in my case, that is crypto. I don't trade forex, stocks, or gold because the market movements are very different. It's like comparing apples to beef steak; they look different and taste different. It's better to eat the beef steak. We can see on the chart that there is a large unfilled GAP between approx. 16830 and 20407. These gaps tend to be filled sooner or later. I think maybe it's better to fill the gap right now than next year. You probably do not want Bitcoin to go to 40k and then dump back to 16k next year; this would be as ugly as the COVID crash in 2020. The bulls didn't react to the major supports on lower timeframes, and it's a huge sign of weakness at this moment. The structure was bullish, but currently at this point, it's extremely bearish to me. So what is the plan now? You can trade Bitcoin on futures and trade reactions on the previous structures. For example, 21,950 is a strong level and bitcoin could bounce from it, so you can take some intraday trades with a few % of gains before it collapses down to the abyss. You can definitely short bitcoin. I will make these types of trades in the next few weeks. Once bitcoin reaches my reversal zone, I will take some brutal long trades with an extremely high RR and a target of 30k+. March is going to be a very bearish month. And usually Bitcoin starts to pump significantly when April starts. You can do a back test. April is a very positive month. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
235
NZD/USD Possible Bullish setup/outlook**Before anything, if y'all have any questions or a different outlook plz let me know. I like to hear other people ideas.** From last week setup, I was looking at a larger parallel channel but now I've modified it into a outward expanding structure. **Price within the expanding structure is forming a possible falling wedge because im still leaning more bullish base on my HTF bias** Im forecasting by next week for price to form and breakout with a CAB and push higher from the falling wedge. Some confluences to satisfy my HTF outlook is a falling wedge, a possible double bottom and a larger expanding structure with other smaller pattern and structures We can see a HTF daily Descending channel with a HTF double bottom as well as a larger inverse h & s pattern
Long
by acefxking
Bitcoin Consolidating to go Lower AGAINBitcoin/1H Doing another Pennant We are also in a down trend channel that I draw which everytime it reaches the end of the channel it makes a move. Worth noticing when SPX was consolidating btc went to 25K now that spx started to move down btc coming down with it. We could perform a fake pump and grab some liquidity before further downside.bearish momentun is just starting and we yet have to see bigger red candles ~13% Please Follow,Comment,Boost if you find it informative. Thanks for watching
BINANCE:BTCUSD.PShort
by pcmonk
XRPUSDT is inside a massive descending channelXRPUSDT has been creating a daily channel, indicating a period of consolidation and uncertainty in the market. However, after a bullish impulse, the market bounced off the 0.618 Fibonacci level, which is a common level of retracement in technical analysis. This retracement suggests that buyers are still interested in entering the market and that there is strong support at this level. Furthermore, if the market is able to grab new liquidity from the 0.37$ area and break out of the descending channel, it would signal a potential shift in market sentiment from bearish to bullish. If the market were to satisfy Plancton's Rules, which is a trading strategy that involves taking a long position when a market experiences a significant price increase, it could indicate that the market is gaining momentum and that there is strong bullish pressure in the market. ––––– 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
3
Bitcoin Bleeding Started!More Pain To Come!Bitcoin/1H doing a pennant that is a sign of continuation ( maybe with a small up move ~24.2) Please Follow,Boost,Commet it really motivates me to do more. REALLY DOES!!!!! Bitcoin has been going down for couple of days , Bulls getting demolished on every RIP they push it. meaning smaller upsides bigger downside and with the pennant its doing it could come down to ~22.8 and hold this range for weekends.OR hit ~21.7 (over 4M liq cluster there) and then bounce back to ~22.8 holding that range again for weekends. CVD is negative and Open Interest is going down indicates more sell pressure Detailed Explanation on the video - Also the new mic is comin today Thanks for watching
BINANCE:BTCUSD.PShort
by pcmonk
2