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Pennant

A Cautious Trend Continuation Idea Bullish Indications • As per DOW’s theory Price action is registering Higher Highs and Higher Lows. • Candle Stick pattern show Inverted Hammer is followed by Bullish Engulfing candle which indicates Bulls are in control. • Support zone is at 1.23386 which can help price bounce up to continue bullish trend. • Linear Regression Channel with standard deviation 2 is used as trend line Support and Resistance. It is evident Price has respected median line and moved back up. • Support Zone confluences with Fib Level 78.6% and price has respected it. • Formation of Bullish Pennant , which indicates continuation of current trend. • As per Seasonal Analysis, BXY remain Bullish until closing of 2nd week of January 2023 with an increment of 2.35% from December 2022. It is safe to say it can sustain to close bullish for January Month. • On the other hand, as per last 10 years seasonal BXY remain slightly bearish in January month. • Macro Analysis on 1 Day Time-Frame trend is Bullish. • Micro analysis on 15 Minutes Time-Frame Trend remains Bullish. • Hidden Bullish Divergence spotted on RSI oscillator. • Average Directional Index , which measures the trend direction strength and its value is at 31.96 which indicates trend is strong. Bearish Indications • Price action is approaching Resistance zone at 1.24103 which can bounce back. • DXY index analysis shows it to be testing a major support area which can provide a cushion for a bounce back which can result in trend reversal upon confirmation. • AB=CD Harmonic Pattern indicates a reversal in trend is possible in area of 1.24526. But we can be only sure of reversal of trend if DOW’s theory is valid for the trend. • 10 years Seasonal analysis of DXY show it remain Bullish in January. • BXY index analysis shows it to be approaching a major resistance zone which can bounce back the trend. Analysis Takeaways: As per facts available to us and projections we can assume that it is quite possible that trend will continue to be bullish with a short-term bounce back from resistance area and again will continue as biased. However, we can’t reject the possibility of trend reversal into a bearish trend as per market sentiments so we need to be cautious and safely take what we can until that happens. Bias : Long Plan (Long) Entry Long: 1.23677 (Fib Lvl 88.6%) TP: 1.24543 (Fib Lvl 100%) TP2 : 1.25936 (Fib Lvl 1.27%) Stop Loss: 123.066 (Fib level of 78.6%) Risk/Reward: 1:3.94 Manage your Risk Accordingly and Remember Stop Loss is your friend. If this post was useful to you, do not forget to like and comment.
Long
by adnanmagsi
3
Bitcoin - Last chance to buy below 20k! (lifetime opportunity) Congratulations to the bulls for this successful start of the bull market! It's really a pleasure to watch these candles. Bitcoin may give you the last chance to buy below the 20k level, so I hope you are going to take this once-in-a-lifetime opportunity! You can buy on the spot market or leverage long on futures. It's still possible to retest the previous breakout level of the trendline, which is around 18,300. So this will be your dream entry, and trust me when I say this! 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. So, why do I believe bitcoin has reached its bottom? From the technical perspective, there are multiple indications, and I will tell you all the arguments. The halving is coming, and usually bitcoin finds incredible strength before and after the halving event. This is statistical data based on historical performance. Bitcoin is breaking out of the falling wedge, bullish reversal pattern on the weekly chart and also is breaking out of the major trendline established in November 2021 with a successfull retest. Basically, Bitcoin is above all major trendlines on the linear scale. We have a bullish divergence on the weekly RSI, that has been confirmed recently. All altcoins show huge signs of trend reversal, not just Bitcoin. As per my Elliott Wave analysis, the downtrend has been completed as an ABC ZigZag (5-3-5 structure). You can see my Elliott Wave count on the chart. We are starting a brand new impulse wave to the upside! On the way up, there is a lot of resistance. Resistance 1 is almost certainly going to be reached. The next resistance is the 0.618 FIB + 0.618 FIB LOG and, of course, the unfilled GAPS, POC, and the previous all-time high. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
125
BTC Bullish Pennant on 2Hr TFPresently BTC is forming a bullish pennant chart pattern on 2hours time frame. If BTC is able to break out of the pennant, it has a major resistance level to break at the yellow level. If that is broken, we can then resume the uptrend, else the price would crash down. The major indicator to watch again this week is the #DXY which i guess may have a temporary pullback once the FX market opens on monday, this mat cause a reversal for the general market in a short time
BITSTAMP:BTCUSDLong
by Popeson
Bitcoin - Please be greedy and FOMO in! Bitcoin is absolutely pumping heavily right now, and there is not too much time for you to jump in, so you need to FOMO in ASAP and be greedy! The pump is real, and if you think this is a scam pump and we are going to go soon to 14k, then ........... The next target for Bitcoin is around 29k! In one of my next analyses, you will see why this is a very important level, so make sure you follow me! Bitcoin is currently approaching a significant resistance level, which is the 0.618 FIB + start of the FTX dump + start of the GAP. It's possible that the bears will step in temporarily, so keep that in mind! There is of course a possibility of a retest of the rectangle pattern, which is at 18,400. Also, it's a breakout level of the major trendline from August. If you haven't seen my idea from January 5, where I told you bitcoin was going to exponentially pump, check out the related section down below. Everyone was bearish back in the day! There is absolutely no bearish divergence on the higher timeframes, and the uptrend looks extremely healthy and powerful! 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. I share my trades privately. If we take a look at the end of the downtrend, we can spot a SFP (swing failure pattern), or someone can also call it a double bottom pattern. The neckline of this pattern is currently breaking out. A trendline from August is breaking out as well. From the Elliott Wave perspective, we are in the third wave of the third wave, which is the most impulsive phase. Also, you can see my Elliott Wave count on the chart, so check it out. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
135
ATOM Bullish Pennant!ATOM has broken neckline of Adam and Eve and sitting in bullish Pennant for possible upside to about $13. Possible re-entry ideas on pullback. As usual #Bitcoin rules the direction but develop an eye to see the next moves. We are not predicting but preparing. If you liked this idea or if you have your own opinion about it, write in the comments. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Long
by imr4nkh8n
4
Ethereum is about to explode! (brutal) Let's celebrate with me this massive upcoming pump on ETH! The chart is now extremely bullish, and in this analysis, I will tell you why! As you can see, the price is printing an ascending triangle on the daily chart. Ascending triangles are very powerful, especially at the bottom of the downtrend! From the Elliott wave perspective, this triangle is a nest with 2 impulse waves, which we can label waves (1), (2) and Waves 1, 2. This is definitely not a corrective pattern in this case. I am sure you have seen the huge dildo on Solana; what if I tell you that something similar may happen to ETH? I predicted this exponential pump on SOL 3 weeks in advance, so check out the related idea about SOL down below! We have a tremendous unfilled gap between 1352 - 1448, and the market wants to fill this gap, which gives us high confidence in this upcoming move. On the way up, we have basically 4 resistances. The first is the 1448 0.618 FIB + FTX dump, followed by the parallel trendline, the previous POC, the start of the GAP at 1545, and the 1680 monthly / weekly high. These levels are good for intraday trading. 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. Two scenarios are now possible. We will spend more time consolidating in this ascending triangle, or we will break out very soon! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
59
Solana - Exponential growth, right now! Solana looks extremely strong at this moment, and it looks like we will have an explosive pump! But it has already begun. From a technical perspective, we need to retest the previous blue trendline, which is at 29.8 USDT. It's also the point of control for the previous price action. This is the first profit target, and I recommend selling SOL here. The second profit target is more advanced. There are a lot of stop losses above the wave (4), so the market might find enough strength to get there. It's at 48 USDT. In my previous analysis on Solana, I recommended buying SOL at 8.6 USD, so check out my previous idea in the related section down below for more details. The chart is printing a broadening falling wedge on the weekly chart, and there is definitely the possibility to touch the top of the wedge in the immediate short term! This analysis is not a trade setup; there is no stop-loss, entry point, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. As per my Elliott Wave analysis, the major impulse wave from the previous all-time high has been completed successfully, and at this point we should look for an ABC retracement to the upside. I see a lot of signs that Solana has temporarily bottomed out on lower timeframes. The strength is currently incredible. Counter-trends tend to be steeper, so there is a possibility of hitting my price target at warp speed. If you want to trade Solana intraday, it's definitely a good opportunity because the volatility on this coin should be insane. I recommend only longs. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
108