Rising Wedge Price Target Achieved With in 24hr at 55400SUCCESFULLY ACHIVED the technically price target at 55400 as mentioned yesterday. Now the strong support area is coming in around the GOLDEN POCKETS at 53800 TO 52800.
Rising Wedge
Rising wedge (BTC) fake out, sweep highs/deviation, lower low Hello traders,
I've noticed similar PA now & $52,000 before the last big correction.
One thing I’ve noticed about rising wedge’s is often times they’ll break down but get bought up quickly then sweep the highs with clear deviation.
Please like/comment.
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RISING WEDGE ON 4h! First to $47-48K before rally towards $63K?Hello everyone,
This is not financial advice, but based on the chart from around 10 days to now I see a rising wedge forming on the 4h chart. If this plays out, BTC should find support somewhere between $47K and $50K, depending on how high it goes before the breakout. I am very bullish on BTC and think a small correction would be perfectly normal since the price has been rallying like crazy for the past 5 days now.
Best bullish scenario imo:
Now to $53K > get rejected > breakout from rising wedge > find support at $50K (but could be $47K) > back to $53K > breakout to $63K!
Give me your thoughts on this in the comments!
price action patterns you need to know ( part 4 ) hi my friends , i'll share with you some patterns which can help you in trading ( part 4 )
Falling Wedge appear in downtrend and it indicates that the sellers are losing momentum in the market, and the buyers are gaining momentum ( long ) you can go long after the break or the retest of the trendline .
rising Wedge appear in uptrend and it indicates that the buyers are losing momentum in the market, and the sellers are gaining momentum ( short ) you can go short after the break or the retest of the trendline
note : Usually we find there is a divergence in the RSI indicator and this can be used as confirmation .
please support me with like and follow me for more ideas .
BTC rising wedge can be seen currently a rising wedge can be seen in a 4hr chart, the resistances are coming in around 50450 to 50790, if breaks the resistance line then the technical price will be coming in around 55400 and the supports are coming at the range of 49125 to 49650, if breaks down the support line then the technical price will be coming in around 44500.
Deviation of the highs (BTC) rising wedge confluence Hello traders,
I'm going to stop using leverage all together maxing out at 2x.
I'll keep 90% of my portfolio in cold storage (USDT) & trade with only 10% on my margin account. (cross 2x)
New rule: I'm only aloud to take a position once there's clear deviation, either at the lows or highs.
Don't use leverage at home kids.
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Solana SOLUSDT - Bull flag! + Broadening wedge- On the chart, we can spot a bullish flag, which is currently breaking out!
- Also, the price is above the key trednline (wedge).
- Profit target is 0.618 FIB
- RSI is ready for a breakout!
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓
- If you want to see more of these ideas, hit "Like" & "Follow"!
What are Falling and Rising Wedge Patterns?What Is the Wedge Pattern and Its Common Characteristics?
1. Wedge patterns have converging trend lines that come to an apex with a distinguishable upside or downside slant.
a. Wedge with an upside slant is called a rising wedge
b. Wedge with downside slant is called falling wedge
2. It has declining volumes as the pattern progresses.
3. It breaks out from one of the trend lines.
Why We Should Pay Attention to Wedge Patterns?
Some studies suggest that a wedge pattern will breakout towards a reversal rather than a continuation more often than two-thirds of the time. Therefore as the rule of thumb, people generally treat a falling wedge as a bullish pattern and a rising wedge as a bearish pattern, especially a falling wedge would be a more reliable reversal indicator than a rising wedge.
Since we know a wedge pattern has a higher probability to reverse and due to the fact that the price of wedge pattern converges to a smaller area, we can trade the reversal set up with a relatively close stop loss to its entry price, which provides us with a good trading opportunity with a decent Risk:Reward ratio.
Examples of a Bullish Rising Wedge and Bearish Falling Wedge.
Sadly, there is nothing that works 100% in trading. Not every rising or falling wedge will reverse as one might expect. Every trader must properly manage their risk by setting stop losses and not just trading based on price patterns. Below are two examples.
Bullish Rising Wedge (ETHUSDT during 15/NOV/20 - 28/DEC/20)
In the early stages of the epic 20-21 bull market, if traders blindly treat the rising wedge as a bearish signal and trade accordingly, they would pay a heavy price.
Bearish Falling Wedge (LTCUSD during 14/AUG/18 - 14/NOV/18)
On the contrary, in the late stage of the 2018 bear market, any trader who blindly trades the falling wedge to bet on a reversal would also learn a hard lesson.
Comment down your thoughts on Ascending Triangle Pattern in the comment section.
Disclaimer:
This is just an educational post. Never trade just any pattern. And please do your research before making any trades.
Happy Trading!
AVAXUSDT Rising Wedge shows Chance?/Trading StrategyBYBIT:AVAXUSDT
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A rising wedge is building since 9/12
Although lots people told rising wedge is bearish flag, I think we could catch chance if made good use of it.
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Apparently, the bottom of this wedge shows strong support before
Also, price gained support gradually on Fib(0.382) and Fib(0.5), can note there are two lower shadow on Fib(0.5)
Therefore, We could catch its vibration to earn consistently.
Based on the downtrend line was broke out and price has stood firm on Fib(0.618)(Orange arrow)
Trading Strategy as below.
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For Short-term
Profit Targets:
a) 79.8~83-----Fib(1)~Top of rising wedge
Stop losses:
a) 65.31-----low from two characteristic lower shadow(Orange horizontal line)
Past price action repeating itselfRising wedge pattern was also formed before in the past
Dont be surprised to see 38k
ETHEREUM: Final TestETH versus BTC is continuing to trend in a downtrend channel after breaking down from rising wedge.
Red area is a demand zone, and I expect a pullback there before breaking up from the channel.
Bearish 5-0 Looking To Break Down Below The 4HR 55 SMAWe have a Rising Wedge and Bearish Divergence on the MACD after rejecting the PCZ of a Potential Bearish 5-0; I will be looking for a big correction from here.
Rising wedge tsla battery shortage Michael Burry short $530 mill$530 million bet against Tesla Rising wedge tsla battery shortage Michael Burry short also btc drops.
CHFJPY Short likely• Price has broken out of a bigger channel so there’s a 90% chance of it going to the bottom of structure
• Downward trend with a pullback correction so there’s a high chance of a continuation to the downside
• Price has formed a rising wedge which is a reversal pattern and is currently at the top of structure
• Price is at an area of daily resistance which creates a double top so its likely to push to the down side
NOT FINANCIAL ADVISE.
BTC Rising Wedge - We are not out of the Woods YetBTC has just broken down from a rising wedge, signaling that we will likely have one more dump until we start trending up again. My support level is 38300, which is the 0.618 on teh daily time frame and also previous support.
Midterm Btc analyzeI think btc will a rising wedge. After this period, Fırat duration is 55k. When btc broke the wedge to the down, it will reach 28k or down.
NDXWe hit my IH&S pattern but could not break up from the rising wedge. Instead we have broken down, I think we are heading to that weekly 50 ema at 13,500
EURCHF Short• Broke out of a big channel – 90% chance of going to the bottom
• Downward trend creating a lower high
• Came back to retest the channel’s support
• Created a rising wedge which is now broken
SPX500USD 20% COIRRECTION IN PLAYThis is an update for the previous chart.
A Rising Wedge formed in November 2020, you can see that it has broken to the downside with a target retracement of 20% medium term.
I opened up a short as soon as we broke the trend, one can play through each level of S & R seen on the charts.
3640 is the target for 20% downside.
Buy resistance, sell support. NFA.
Safe trading.
BTC SHORT Risk to Reward 1:10Rising Wedge and bounce off trendlines with low volume point that BTC will retest the bottom levels of support after breaking down from a rising wedge this set up is on the 4 hour chart.
