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Rising Wedge

ETH supports that will be more likely touched.Ethereum was in a Rising wedge pattern and we would have expected the fall of ETH to happen pretty soon. Well right now the break out has already happened and a heavy bearish movement has already accurded. 1000$ is a pretty important support and if it's lost,well there will be no hope of turning back for bulls. Afterward we shall expected the price to reach 750$ and if that's also lost as well,500$ is the next support. -ETH was in Rising wedge pattern. -The fall of Ethereum was already expected to happen. -1000$ is a very important support.if it's lost , all hope for bulls are gone. -750 & 500 are the next support points. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you for seeing idea . Have a nice day and Good luck
COINBASE:ETHUSD
by CobraVanguard
7
Is $XLE making a bearish ascending wedge?It seems like the Energy sector ETF $XLE is making an ascending bearish wedge. It's showing lots of resistance around the $82.9 area and hasn't be able to close above it for the past ~2weeks. I wouldn't be surprised if it has a fake breakout to the upside before eventually falling back inside the wedge. Keep an eye out for a break to the down side as the measured objective would be around the $64.7 area. I'm neutral for the time being but keeping a close eye on this for a bearish reversal.
AMEX:XLE
by HaseebKhan_90
8
XTZ is in a Rising Wedge...what will Happen?XTZ is in a Rising Wedge Pattern. This is Of course a bearish Pattern which means we Should Expect the Price to Reach Lower Levels Even From Now! The Price can Decrease and It Should be Clear To you That No Break Out Has Happened yet So It is not Safe to Take Short Position (For Now!) There is also a Regular Bullish Divergence (-RD) on MACD which Strengthen The Idea Of Tezos Being Bearish! The Expected Target and Support Point Right now Is around 1.600$ -XTZ is in a Rising Wedge Pattern -No break out yet -(-RD) on MACD -Expected Price and Support Point 1.6$ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you for seeing idea . Have a nice day and Good luck
Short
by CobraVanguard
9
Thoughts on EURUSD (Bearish possibilities)Hello again! I have this deep analysis on EURUSD on 2 possibilities to go short based in my analysis on trend analysis, chartism and mostly harmonic patterns. I'll explain the 2 scenarios I have and take notes for it to be possible. Possibily 1: Last week an ideal bullish AB=CD pattern with 0.618 : 1.618 ratios was formed and if it still goes up it could complete a shark pattern entry 2 that coincides with the ending if an AB=CD pattern with ratios 0.382 : 2.24 is also formed. The zone is by itself really harmonic, but we have to wait carefully and I'm expecting it to react at 1.08210. Although is looks like a really good zone to sell, there are 2 ways that this analysis could be invalidated (either the price falls under previous low formed or it is not formed until june 8th). Anything is posible in the market, so I recommend to watch out that zone in blue. Possibility 2: Remember that I shared a bearish idea because of a rising wedge and it has hit TP1, but because it hasn't gone up, it's still valid and that's possibility number 2. If the price falls under previous low (invalidating possibility 2), we can expect the price to retest at 1.0705 and go to the final TP on the rising wedge. I recommend you to wait for candlesticks confirmation and then sell. Now if it goes up and consolidates between and nothing interestingly happens, then discard both possibilities, I'll update if necessary. Do you have any other ideas? Let me know on the comments.
Short
by pinoso
1
The huge rising wedgeBitcoin is currently on an important support area, which includes important support levels, including the monthly Camarilla Pivot overlap and the yellow static support that has repeatedly supported the price. Also, the top lines with the bulky part of the profile volume indicator are almost at the same price. This shows how reliable the 29 and 30 range are I envisage the price for two scenarios. If the price moves upwards, the most serious resistance in front of it is 34800, which if it fails to break, it can bring the price to at least 30,000. The second scenario, if the significant range of 30,000 can not support the price, the next bitcoin station is 23,600. Because the monthly candlestick did not close well, I consider the second scenario more likely.
by amoo_khashi
GBPJPY | Perspective for the new week The GBP/JPY pair witnessed selling pressure around 160 area in the last one week as profit-booking happens. From a technical perspective, I am of the opinion that there are two possible scenarios lining up for us going into the new week as a breakout/retest of either the resistance or support trendline identified on the 4H time frame could send the price in the direction of the breakout or breakdown. However, it is also appropriate we put into consideration that the BOE is expected to announce a bumper rate hike in its June monetary policy which might have a significant impact on price movement. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4
AUDJPY | Perspective for the new weekConsidering the long term bullish momentum on this pair, I want to be looking out for buying opportunities in the new week as a breakout/retest of the Key level at 91.000 area shall be a signal for me to buy the Aussie. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
A bearish week Hi everyone this how i see the eurusd this week ... First of all last week we had a break of structure ... So most likely we are going up , but i have a few reasons that make me think the other way ... 1-the price is reaching a sell area . 2-the price is forming a wedge pattern . 3- the price did not retest the area that broke the structure . 4- i think the bulles are a bit tired 😝 so thay need to have a break before pushing the price up . The other scanrio is the price break the pattern to the upside , but i think we will have a bearish week . If you like the idea give it a thumbs up 😜👍🏻. Trade safely 🤍
Short
by Abu_Hamdan
BTC Short correcting myself using Vix cheat sheetHi In this published idea I'd like to show you the correction to my previous update that said long Bitcoin. With this update you can see a much better picture of the Vix cheat sheet custom script indicator. You can use this by going to the custom script indicator then clicking Vix cheat sheet. As you can see it says for the next weekly candle we could experience another 1% loss. It says that we could experience another 19% loss overall going through 5 more weekly candles. However it also shows going through 10 more weekly candles we could experience a 45% gain. I was hoping for a wick to the upside which we did experience today but I was hoping it would be better than it was. You see the other night I switched my busd for BNB. At the price of 324.44 per BNB. At the time I was heavily impressed by some Bitcoin maximalists who would always say to buy during the fearful period. I made quite a big move into BNB and with the small video wick to the upside today with Bitcoin the price of BNB did go back up to 315. I believe I should of sold my BNB at a loss today but I had just gone for an infusion at the hospital for my Crohn's disease and I missed the chance to sell at a loss. Now BNB is back down to 300 and I am in fear because I do believe this fixed cheat sheet indicator is very good and it does tell we are in store for a 20% drop in bitcoin price. That would mean BNB would drop to $280 or worse and frankly that scares me because I don't have time to wait for 10 more weekly candles to get out of my position in BNB. The reason I made that trade from busd into BNB is because I was hoping for a quick gain that I could sell to have more profit to buy into Rex the new price appreciation plus high APY staking token launching soon on Binance Smart chain. It's been in development for over a year. They are doing a lot of security tests and audits so that they won't be susceptible to flash loan attacks or mev bots or worse. I had made some good gains over the past six months by playing with tokens through pancakeswap. I turned 8k into 30k. For me that was very good for the financial health of my family's savings. However I did make the wrong choice by changing busd for BNB and unfortunately now I do not know when to exit and take a loss or wait for things to get better. I hope over time we would see another small wick or hopefully a larger wick to the upside with Bitcoin. Maybe another upside to 30,500 or higher before going down to 26,000. I would be able to sell the BNB into a stable coin again and NEVER make a mistake with big money again. Frankly I am tired of playing with cryptocurrency. Two years ago I was not looking at charts daily and wasnt so concerned with cryptocurrency. Things were good with Hex coin at the time. I was staying humble and feeling blessed. Thinking I would sell the Hex for good money. Unfortunately I was locked into a stake where I couldn't sell because it wasn't over the sixth month halfway point and I would actually lose the whole thing so there was no way to take it out. I had $850,000 in Hex and I was feeling blessed and happy. Over the years I'd like to say that I am still a fan of cryptocurrency however I definitely know more about how financial markets work and I would love to join trading in the stock market. I am only good at researching and analysling markets at less volatile times. I should have stayed away in this impending bear market and I got over compulsive and made that play into BNB. Well here's hoping for the best. And best wishes to all. Bless you and stay positive. Things will be ok. I've always been a fan of making money on the internet. I would really love to just stay away from cryptocurrency all together and focus my attention on making money on the internet again. I always had a knack for finding ways to make money on the internet. Whether it be affiliate marketing or e-commerce. However in the last 5 to 8 years for me I couldn't get that stranglehold on entrepreneurial money that I once had. Unfortunately in my younger days as I tried to save the money I again got over compulsive and went into some bad trades losing millions of dollars. I just wish I could find good ways to make money on the internet again. I love researching and analyzing new strategies.i just wish they would work. In the meantime I'll be looking for a career where I can be a productive member of society. I yearn for the opportunity to feel productive again and to feel accomplished. I lack that so bad in my life. From now on I will be focusing all of my attention on internet affiliate marketing and entrepreneurial ways to make money aside from cryptocurrency. However I will be looking at ways to become a developer of software or defi. I'm not the type of person who would want to make a cryptocurrency only for it to become unsustainable. I tend to shy away from trying to create scams and things of that nature. That is not the type of person I am. The world has been quite vicious to everyone I might add though. Best wishes to all. If anyone here is a developer or interested in marketing and you would like to work together please contact me. I am very good at marketing when there is an actual product to market. I'm good at making sales through channels of platforms. When I have an actual product or service to sell. And for now I will be looking for services or products to create and sell. Or find and sell. Feel free to contact me if you'd like to work together. Here's hoping for the best in these tough times.
Short
by Henrywaters
A Rising Wedge in the XLE is setting up a shortXLE looks like its forming a nice Rising Wedge on the daily chart. The bad news is we're heading into the Summer which usually leads to higher demand, and Rising Wedges aren't particularly good performers from a statistical standpoint. The good news is that they do offer about 2:1 odds of a reversal once the Wedge breaks. In addition, the momentum indicators are displaying significant bearish divergences, and regardless of seasonality, the macro picture is suggesting global slowing of demand for energy. Therefore, the sum of the evidence makes this look like a good short candidate for a swing trade. Where it gets a little more tricky is deciding how to get short. As mentioned above, there's about a 2/3 chance of a reversal. The problem is that historically speaking, the average moves of the reversals (-8%) aren't much to get excited about. Over the next 30 days, the Options market is anticipating about +/ $8.84 of movement. This aligns nicely with the idea of a breakdown from the wedge, which could take price down to the Point Of Control on the Volume Profile aruond $76. All things considered, I like the idea of trading this with a defined risk position like a vertical spread. Something like buying the $80 PUT and selling the $78 in the July 1st expiration. This is trading for about a $0.51 debit and would mature to somewhere north of $1.00 if XLE falls to $76 over the next 37 days. Thanks for reading; all the standard risk disclaimers apply .
AMEX:XLEShort
by InnerMotionTrading
1
SQQQ Bearish Rising WedgeI know a lot of traders who are in the SQQQ banking on the idea that its on its way to retrace it's gigantic historical prices. I trade by patterns. Sometimes they work, sometimes they fail, for me they succeed more times than fail. What I see in the SQQQ is a rising wedge pattern. Rewind the clock 20 years ago and I would be chasing this breakout with the rest of the crowd. This along with bearish patterns I am seeing in the Vix, I see these 2 forces indicating a reversal in the Equity markets. Dow stocks seem to be leading the way. I think Nasdaq stocks will follow not far behind.
NASDAQ:SQQQ
by HumanIntel
2
BTC: $35K OR $26K? WHAT'S NEXT?Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. In my previous BTC post, I showed you that BTC is forming an inverse head & shoulder pattern and we got the breakout but it didn't go according to the pattern. This is just because everyone is talking about the same pattern (Inverse H&S) and market makers never want that more than 90% of people are right so they manipulate the price action. So we have to be extra cautious at this time. Now let's get to the chart. BTC is forming a rising wedge-like pattern in 4hr time frame. The direction of the breakout will decide the next move of BTC. If BTC breaks out (Break and close above $31.5k) from this wedge then our target is $35k or if BTC breaks down (Break and close below $29.5k) from this wedge then our target should be $26k Let's wait for the breakout or breakdown then we will decide our next move. What do you think about this? Do you think we go to $35k from here or $26k? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
by CoreCrypto1
2