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BTCUSDT Rising Wedge approaching heavy resistanceBITTREX:BTCUSDT BTC has been moving between Gann angles so far with additional support and resistance levels offered by the Resistance lines 1 and 2, lately it bounced off the Support 1 line forming what appears to be a rising wedge pattern (for now). Now its approaching the same resistance zones again, with a under-the-cloud-cross on the 2 Ichimoku lines under a red cloud. In the past a cross under the cloud indicated a weak jump in price that would usually go a little bit over the cloud but then drop down under it again. We might see a return to the Support 1 and 2 line before another bounce back up.
Short
by NikolaGr
1
ENGBTC Rising wedge + top of a pitchfork - short term correctionEnigma has had an amazing bull-run the past few days, but is seemingly running out of momentum. The price is forming a rising wedge while nearing the top of our pitchfork-trend. RSI is also telling us that the higher high has been made on lower momentum, indicating a short-term reversal. Shortterm traders might look to place a stop-loss, but I'm holding enigma for the long term and will not be selling. Rather I'm looking for another buy-in at the median or bottom of the blue zone of our pitchfork.
by bjhriemersma
Monero next leg up !Monero has been testing resistance against 100$ and from the looks of it Monero is growing in popularity with a growing user base, a surge in searches on Google trends and a number of pro Monero articles surfacing in the past few days. It looks set to go up again and potentially may retest its previous highs. As Bitcoiners look for a place to hedge their bets Monero becomes an increasingly enticing place once more research is done. Monero having no marketing budget that most coins use to pump their price and having superior technology has found itself severely undervalued, its only a matter of time before the new money coming into Bitcoin educate themselves on what makes Bitcoin truly valuable and find that same thing intensified in Monero.
Long
by Emperor_Penguin
Possible Rising Wedge BTC/USDTBTC been on quite the run latley, however momentum on the MACD has leveled out on the 4hr chart and a Rising Wedge pattern is forming. Both bearish signals. If the Rising Wedge holds true we will see a drop to the $4290 Support and if that fails, then a test of $4100. Good news is BTC is still bullish, riding above the 50SMA on the 4hr however we should expect reasonable corrections on the climb back to ATH. Constructive criticism welcome!! Help me become a better trader!!
by NathanielEverett
Rio Tinto - Up or Down ?Rio has successfully completed a rising wedge pattern - broke down the support line and now it's slowly going to test it. It seems like very likely the support becomes a new resistance and stock is going to go down. However, it has also stopped at the 50MA with slightly increased volume, which may signal also a support. Now, it is crucial to watch the lower trend line of the wedge, whether it breaks it back or not and based on that Rio will choose its next journey.
LSE:RIO
by Turpan
OMG USD - 1 HR chart rising wedge/bearish div.OMG USD has been witnessing unreal gains. It has recently went from $1.41 to $7.50 in a matter of days. However, price seems to be consolidating over past couple of days, creating multiple patterns. In the long term trend channel, we see a rising wedge formation, with a definitive bearish divergence forming in Relative Strength Index. In most recent consolidation move, we see what could be construed as a symmetrical triangle / or another rising wedge. I originally thought this OMG coin was going to move upwards another $1 or $1.50, but we may see a reversal before that can happen. Keep a close eye on trend channels for possible breakout, and watch the volume indicator for verification of a potential reversal. We may still see upward movement to next level, however this new formation seems to be signaling a price correction in the near future. We still have room near bottom trend channel on longer charts to maintain current trend, but we may see a price drop closer to $5.50. A correction would make sense, given the relentless bullish movement recently. Trend lines and RSI would point to a bearish movement, towards the support level of $5.50. However overall chart is still bullish. Let me know what you see!
BITFINEX:OMGUSDShort
by Shwayze
2
TECHNOLOGY SECTOR IS GETTING HIT AND APPLE HAS FURTHER DOWNSIDE!It was about time to see some correction to one of the most profitable sector since 2016 and technology sector is already started a correction. When it is going to stop we will see,but for sure not yet. Google just got a record fine of 2,7$ billions from EU,Apple dissapoints with recent sales on I-phone and innovation and technology sector down it goes after recent selloff. TECHNICAL POINTS 1.As we can see at the chart the rising triangle broke downwards once again,if we project the AB side the day when the triangle broke we can see that price action followed exactly the technical analysis rules and hit the targets at previous support.Rsi divergence could help us predict also that the rising triangle would broke downwards. 2.We can also notice the second rising triangle DEF that is created and the possibles targets long and short based on the projection of the ED side. 3.We can also see that short target is coincides with the 61.8% Fibonacci retracement of the ascending leg after the gap breakout. 4.Price action tends to fill the gaps 70% and more some times depending on the asset so it's a quite possible short price target area. POSSIBLE TRADES LONG TRADE(GREEN COLOUR): TARGET T1 AT 155.50$ PROJECTION OF ED SIDE AND PREVIOUS HIGHS STOP LOSS AT 142$ 50% FIB RETRACEMENT SHORT TRADE(RED COLOUR): TARGET T2 AT 138$ ED SIDE PROJECTION BUY STOP AT 148,50$ ABOVE TRIAGLE'S HIGHS THNAKS FOR SUPPORT HAPPY PROFITS!
NASDAQ:AAPL
by The_Greek_Trader