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Rising Wedge

VeChain - A quick analysisVeChain was in a massive Rising Wedge Pattern and has broken below it. VeChain is now in a new massive Symmetrical Triangle Pattern. VeChain needs to stay above the Ascending Trend-line of the Symmetrical Triangle for any real upside recovery to take place. At the moment of typing this, VeChain is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. We need VeChain to break back above and more importantly close above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. At the moment of typing this, VeChain is above its Least Squares Moving Average (LSMA). At the moment VeChain has found support from the LSMA. We need this daily candle to close above the LSMA. At the moment of typing this, VeChain is above its Volume Profile Fixed range Point of Control (VPFR POC) fro this charts fixed range off 29 daily candles that i have selected. Note that yesterday’s Volume Bar ended in the Green and closed above its Volume 20 period Moving Average. It’s still uncertain if today will end in the green. The Average Directional index (ADX DI) is showing that the -DI (Red Line) is still above the +DI (Green Line) indicating that Negative Momentum is still dominant over Positive Momentum on this 1d timeframe. Note that the -DI (Red Line) has dipped slightly to 31.03 and the +DI (Green Line) has risen to 9.02 but it looks like it’ll be awhile before we see the +DI (Green Line) cross back above the -DI (Red Line) on this 1d timeframe. Note that at the moment, the Trend Strength is strong with the ADX (Orange Line) at 34.40 and still above its 9 Period EMA (Black Line) which is at 28.80. The Moving Average Convergence Divergence is indicating momentum is still downwards and note that the MACD Line (Blue Line) is still below its Signal Line (Orange Line) and is also in the Negative Zone below the 0.0 Base Line. We need to see the MACD (Blue Line) cross back above the Signal Line (Orange Line) on this 1d timeframe for any real recovery to take place. I would not get excited unless VeChain closes a daily candle back above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d timeframe. Here is a closer look at this VeChain chart. I hope this is helpful with your trading and hodl-ing. Rising Wedge Pattern = Ascending Converging Black Dashed Lines on chart Symmetrical Triangle Pattern = Ascending/Descending Converging Black Dotted Lines on chart LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart VPFRPOC = Short Horizontal Red Line on chart
BINANCE:VETUSD
by entertheroach
3
A few potential patterns for ETHUSDI’m keeping this neutral until we see confirmation either up or down. These are the current trend lines in play on eth usd. We can see we have two potential bullish continuation triangle patterns: A potential symmetrical triangle and a potential ascending triangle. We also have a bearish rising wedge in play, with the possibility of two potential top trendline s to that rising wedge…the bottom trendline seems very defined at this point. As we have seen already multiple times in the bull market, sometimes we actually break upward from rising wedges in a bull market. So I have posted the measured move targets or if we break down from the wedge but also if we break up from the wedge as well. We are currently confirming the symmetrical triangle and ascending triangles top trendline s as support which is a win for the bulls as long as we maintain that support…however that will be much more likely to be sustained once we can overcome the two potential top trendlines of the wedge and flip them to support. or now I must remain neutral, for even though I am overall bullish on eth, btc and the majority of the crypto market…one black swan event could easily interrupt it with a bearish plummet in price action.
BITSTAMP:ETHUSD
by DrDovetail
BTC Wedges, Megaphones, Channels and a partridge in a pear treeBTC is in an Ascending Channel on this 1d timeframe. Even if BTC drops to around $34,000, it would still be within this Ascending Channel. BTC is potentially in an absolutely massive Megaphone Pattern/Reverse Symmetrical Triangle on this 1d timeframe. BTC is potentially in a smaller Megaphone Pattern/Reverse Symmetrical Triangle on this 1d timeframe. BTC is potentially in a massive Rising Wedge Pattern. BTC is potentially in a smaller Rising Wedge Pattern. It’s almost certain that we will NOT get the 4th touch which would be on the bottom of the Massive Inverted Symmetrical Triangle, but on the Smaller Inverted Symmetrical Triangle we may get a 4th touch if the Rising Wedge Support & the Ascending Support Line both fails. BTC is still in its upwards Pitchfork Pattern (A,B,C) on this 1d timeframe. Note that BTC is below its Pitchfork Median Line on this 1d timeframe. At the moment, BTC has found support from its Lower Yellow Pitchfork Support Line. If BTC stays above the Lower Yellow Support Line then history dictates the Price will eventually gravitate back upwards towards the Pitchfork Median Line and possible encounter strong resistance before breaking back above it. The Ascending Red Support Line is also doubling as the Pitchfork Hagopian Line. At the moment of typing this, BTC is above its Least Squares Moving Average (LSMA) for this 1d timeframe. We need BTC to close this daily candle above the LSMA. BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. We need BTC to close back above the BB Middle Band before any real recovery can be considered. The Moving Average Convergence Divergence (MACD) is indicating momentum is downwards on this 1d timeframe. Note that the MACD Line (Blue Line) is still below the Signal Line (Orange Line) and is in the Negative Zone under the 0.0 Base Line for this 1D timeframe. If you are uncertain to buy in then wait for the MACD Line (Blue Line) to cross back above the Signal Line (Orange Line) on this 1d timeframe. Here is a closer look at this chart. Yep, this chart is pretty bonkers but i thought i'd do something a little different ;-) so I hope this is helpful with your trading and hodl-ing. Notes: Bollinger Bands = Grey Bands on chart LSMA = Black Squiggly Line on chart Pitchfork = A,B,C Pitchfork Hagopian Line = Red Line on chart Ascending Channel = Ascending Black and Green Lines on chart Massive Megaphone Pattern/Reverse Symmetrical Triangle = Purple Lines on chart Smaller Megaphone Pattern/Reverse Symmetrical Triangle = Black Dashed Lines on chart Massive Rising Wedge = Ascending Converging Black and Purple Lines on chart Smaller Rising Wedge = Ascending Converging Black Solid and Dashed Lines on chart
BITSTAMP:BTCUSD
by entertheroach
4
Ethereum show incredible strength with massive rejection🚀- Ethereum still holds the biggest ecosystem and has running smart contracts for a long time. This headstart led to a big market dominance compared to its competitors like Cardano , Solana, Cosmos, etc. - Ethereum still is the first choice after Bitcoin for big investors and remains attractive. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. - 5 billion worth of Ethereum burned since August. Daily chart: - Price showed a flash crash together with the whole market and a massive rejection that prints the bullish daily candle of Saturday. Currently we are within a large rising wedge and heading towards the apex where a breakout is expected. - Volume is still very low which confirms a consolidation phase. - RSI analysis shows a consolidation as well. - Moving averages show that we currently are below the 20MA and the 50MA. This is a concern and we have to reevaluate next time. - Support lines are at 3950$, 2850$, 1750$ and 1350$. All of them have been retested which is fantastic. - Resistance lines are no more. The breakout out of the rising wedge leads to price discovery . Expectation: - We expect that Ethereum finds itself around 5k within the next week. - Once we start moving up seriously FOMO begins and we can enjoy the ride. - More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely. - End of the year prediction: We will see a 7k$+ Ethereum before the end of 2021. We reduced the price target from 10k$ to 7k$ due to recent price actions. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55
How to trade Rising Wedge patternWhat is a rising wedge? A rising wedge is a technical pattern, suggesting a reversal in the trend . This pattern shows up in charts when the price moves upward with higher highs and lower lows converging toward a single point known as the apex. There are 4 ways to trade wedges like shown on the chart (1) Your entry point when the price breaks the lower bound of the wedge, place your stop loss above the last peak, your target range is the distance between the upper and lower bound of the wedge at the start point. (2) Your entry point when the price breaks the neckline of the double top pattern inside the wedge pattern, place your stop loss above the double top, place your target as same as shape (1) (3) Your entry point when the price retest the lower bound of the wedge, place your stop loss above the last peak inside the wedge pattern, place your target as same as shape (1) (4) a false breakout may occur in the rising wedge pattern, wait the price to go inside the pattern again and your entry point should be after breaking the last trough and your stop loss should be placed above the last peak that has been formed within the wedge, your target should be placed as same as shape (1). We wish you the best of luck!
Education
by ChartDepth
BTC 87.1k confluenceThis idea will present multiple aspects of what BTC price action is doing. Each aspect will be broken down in different snapshots so that at the end we have a understanding of the greater picture. Elliot Wave & Fibonacci The assumption is that each correction wave will bounce from the 0.5 0.618 Fibonacci levels. The levels should have confluence with previous highs so that resistance turns support. Wave 1 stopped just above the 0.618 level. Wave 2 stopped just bellow 0.5 level. Wave 3 stopped just above level 2. Wave 4 should stop just above ~52.9k Confluence with Fibonacci levels from Point 0 to 3 waves. So a good approach for the current PA would be to accumulate in the green zone between ~57.7k and ~53k. Wave 5 should reach at least the 1.618 level at around 87k. Level 2 would be between 98k and 100k. Log Trendline Support is now resistance. Locally We are forming a rising wedge with a RSI and MACD bearish divergence. I've also plotted a channel that interestingly has the bottom support in confluence with wave 3 high. Question is what will BTC do at the bottom of the channel and if we make a higher high or a lower confirmation high that will take us to the accumulation zone ? One scenario is that we could form a H&S that as usually will probably underperform and instead of reaching the target will bounce from the accumulation zone. I will post ideas related to this on lower time frames like 4H and 1H to look for confluence.
by CryptoSlots777
6
Hunting for a LowBTC has a double top and rising wedge playing out - we've confirmed the rising wedge breakout but still waiting on the double top. We also have the MACD rolling over as confirmation of a change in trend. Then there's a rising wedge on the RSI that we've broken out of. I expect BTC to settle somewhere around 45k. Also - because the RSI has a falling wedge still in play from the last rally and we've not reached the target of that yet, the rally should continue after this brief correction.
Short
by devoperator84
Ethereum in upwards consolidation nearing the apex!! Breakout 🚀- Ethereum still holds the biggest ecosystem and has running smart contracts for a long time. This headstart led to a big market dominance compared to its competitors like Cardano , Solana, Cosmos, etc. - The main issue is the scalability and therefore the transaction fees which are way to high at this stage. - Ethereum still is the first choice after Bitcoin for big investors and remains attractive. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. - 2 billion worth of Ethereum burned since August. Daily chart: - Price made a retest of the 3900$ support and it held. Currently we are within a large rising wedge and heading towards the apex where a breakout is expected. - Volume is still very low which confirms a consolidation phase. - RSI analysis shows a consolidation as well. - Moving averages show that the 20MA is below price again which is bullish. The next time the 20MA could act as support and boost price. - Support lines are at 3950$, 2850$, 1750$ and 1350$. All of them have been retested which is fantastic. - Resistance lines are no more. The breakout out of the rising wedge leads to price discovery. Expectation: - We expect that Ethereum finds itself around 5k within the next week. - Once we start moving up seriously FOMO begins and we can enjoy the ride. - More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely. - End of the year prediction: We will see a 10k$+ Ethereum before the end of 2021. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55