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Rising Wedge

BTC ON THE WEEKLY RISING WADGE VS RISING CHANNELBack in october i drew this rising wadge and i completely forgot about it.Since than we got our third touch point and big bounce from it on the fourth of december.This rising wadge goes back from 2017 Bull-run and has multiple touch points on the upside and 3 touch points on the downside. But we also have this rising channel and 3 perfect touch points on the downside and 2 on the upside becouse of that i got in long position at 33k. What to do if we get rejected from the rising wadge? The answer is simple,i am going out from my long position and wait for rsi on the weekly to go slightly below 30 whith has idicated bear market low back in 2015 and 2018.However if we break back in i think flying to the moon is very likely to happen. What do you think about my opinion? If you like my ideas please follow me and like the post, i am new to Treadingview but i have 6 years expirience in trading. BTC TO THE MOON!
COINBASE:BTCUSD
by Mladen94
2
A Guide about Falling & Rising Wedge PatternsHello every one 🟡WHAT IS A FALLING WEDGE PATTERN? The falling wedge pattern is a continuation pattern formed when price bounces between two downward sloping, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend. 🌳HOW TO IDENTIFY A FALLING WEDGE PATTERN The falling wedge pattern is interpreted as both a bullish continuation and bullish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain different market conditions which must be taken into consideration. The differentiating factor that separates the continuation and reversal pattern is the direction of the trend when the falling wedge appears. A falling wedge is a continuation pattern if it appears in an uptrend and is a reversal pattern when it appears in a downtrend. (Example) 🔵WHAT IS A RISING WEDGE PATTERN? The rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. It is considered a bearish chart formation which can indicate both reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge appears, traders should always maintain the guideline that this pattern is inherently bearish in nature 🌳HOW TO IDENTIFY A RISING WEDGE PATTERN The rising wedge pattern is interpreted as both a bearish continuation and bearish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain a different set of observation dynamics which must be taken into consideration. (Example)
Education
by CobraVanguard
18
Bitcoin BTCUSDT - New parallel channel!- We have a new parallel ascending channel on the 4h chart. - Bulls need to break this channel to the upside, for continuation in this uptrend. - The previous triangle structure can be definitely re-tested in the future, so be prepared for this case. - But a major trendline from 10. November 2021 is now broken, so the trend switched to a bullish trend. - If you want to see more of these ideas, hit "Like" & "Follow"! - Check my related ideas about bitcoin below!
by UnknownUnicorn2537518
3
🌳Link's Support & Resistances and Expected Movements Right NowHello every one LINK/USDT 🟡Chart is speaking it self ! What Is Chainlink (LINK)? Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement. The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network 💎Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Thank you for seeing idea . Have a nice day and Good luck
by CobraVanguard
4
BTC Perfect retest of the rising wadge and down we go!I said yesterday in my post that we my go down to retest the bottom of the channel on the weekly timeframe which is going to be 33k. Now i just opened small short position on BTC because of the retest of the rising wadge on the 4 hourly timeframe. My profit taking area is around 34k. Dont be manipulited by this small pumps and trade smart. Dont get me wrong i am bullish on the weekly and i think that 33k is the bottom but we need to retest the bottom again. Much love to all traders. What do you think about my opinion? If you like my ideas please follow me and like the post, i am new to Treadingview but i have 6 years expirience in trading. BTC TO THE MOON!
Short
by Mladen94
2
GBP / JPY 153.096 -0.61 % LONG IDEA * TREND POSSIBLE REVERSALHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE POUND / YEN * The PAIR has been trading in a ASCENDING channel just tested the base of this structure, awaiting a double bottom/ or any other confirmation as we might enter a strong bullish rally. - Short term the pair looking for a momentum shift possibly signaling a strong bullish momentum on the 4h chart this. - Looking for long entries on GJ this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Long
by PULEMokhothu
2
DXY 96.03 - 0.07% SHORT IDEA * PRICE ACTION & REVERSAL PTTNS HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE DOLLAR INDEX * The INDEX is currently trading in a RISING WEDGE , tested the ROOF of this structure. - looking at a possible H&S FORMATION the 4H AND LOWER. - Short term the pair has currently entered an uptrend on the 4h chart this. - Strong bullish momentum towards resistance will invalidate the whole set up. - Looking for SHORT entries on the INDEX this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:DXYShort
by PULEMokhothu
Long term S&P500 OutlookThis is just an idea that I am posting that may or may not pan out. It is not financial or investment advice. I am definitely not saying this is the way forward but as I was tinkering one night, I somehow came up with this, and the more I looked at it, the more it made sense. Using trend lines we have a potential rising wedge. Then I measured some fibs and copied a previous pattern to fit the PA that one might expect to happen in a rising wedge. I also added a trend-based fib extension. As you can see there is a measured move in the final wave to a -.236 which also aligns with the 1.618 from the fib extension. If this is indeed a rising wedge then we will see a choppy path over the 2020s upward until eventually, the bias would favor a massive crash or bear market. You can also see the potential pivot points based on ABCD measured move series would align well with October/November of election cycle years. This isn't a statement about who will win or anything but election cycles also mark budget cycles ie; fiscal policy so they tend to be natural pivots or continuations based on the flavor of the day. Will it pan out like this or similar to this? I guess we'll have to wait a few years to see.
SP:SPXLong
by StockSniper00
DXY top is in ?solid white lines - multi year trend line blue moving average line - 50 week MA red moving average line - 200 week MA pink moving average line - 128 week MA It seems like the #DXY got rejected at the 618 fib retracement level. As it is currently in a rising wedge pattern, if we break the wedge to downside, 95.13 will most like be temporary support, however: Based on the macros, downside is pencil'ed in so we might get a minor bounce off 95.13 after which, if we retest 95.13, the DXY is going lower. Higher oil prices in Dec and Jan leads to even higher inflation than what was printed for Dec. Higher US wages leads to sticky, higher inflation.
TVC:DXY
by chsmit
Bitcoin Technical Analysis When Bitcoin price was getting closer to the major resistance area (39500 - 41K) we already warned you 3 times that sell-off pressure could spike which can cause further price dump. Soon after our warning, BTC started to dump and fall in price, it has first broken out from the Bearish Flag pattern it created on the daily timeframe and moved downward toward the first local support area (37500), we already warned you that BTC created another Bearish Pattern (namely Bearish Rising Wedge on lower time frame) and will eventually dump even further. Soon after our second warning, BTC started to break downward from that Bearish Rising Wedge after creating a fake breakout pattern which we knew already that would most probably that will be a fakeout as we plotted on the chart), and then BTC price broken and fell below 37500 (the local support line) and moved toward the next support (36800). At this point BTC faced some buying pressure and demand. It also created a descending triangle pattern (although some might see it as a symmetrical triangle, but as you can see the buying pressure were decreasing with time until it created a descending triangle as we plotted on the chart). Since this descending triangle has a 50% chance to push the price even further down, as you can notice, we placed a question mark on the Fake Breakout text label, as we are not sure which side (bulls or bears, buyer or sellers) can win the battle and also plotted the volume profile on the triangle to indicate the buying or selling volume will determine the next Bitcoin price movement from hereon. And, we need to watch and monitor the bold green line (indicating the local support line at around 36800) to see whether bulls can defend that support line to protect BTC from further damp down the line. We hope this technical analysis can help you see the picture and understand the current situation better. Kind Regards Dr. Bestoon Jaff Chief Technical Officer (CTO) Blockchain Center Sulaimaniah city
by jaffcoins
Bullish Rectangle or Double Rising Wedge?It's a major debate at this moment wether Bitcoin is forming a bullish rectangle or a double rising wedge. Regardless of opinions, when zooming out on the 1h, 4h and daily charts, it is hard not to first observe the bullish rectangle. And in the end, we care about the long term. If the rising wedge is confirming with a slight drop, it will be only short, retail stop loss hunting which will most likely not break 36,500 As we have consolidated at crucial support 38,000, it is expected that bitcoin will tackle the next major milestone at 40,000 before the big battle at 43,500.
Long
by Mortdecai
3