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Trianglebreak

BTC - ON THE RAZOR'S EDGE !!!WEEKLY (W1) The last weekly closing was @ 39'691, just below the bottom of the weekly clouds support area !!! As already mentioned several time the CLOUDS SHOULD NEVER BE UNDERESTIMATED on both sides, either on the UPSIDE as a RESISTANCE area and on the DOWNSIDE as a SUPPORT area. Therefore, ongoing price action which will take place this week will be very important to monitor very closely and most important its weekly closing which will either validate or invalidate this downside breakout, which if confirmed will put the focus on lower levels. DAILY (D1) TRIANGLE PATTERN , in progress to breakdown (wait for the first confirmation of today's closing - target 37'235, ahead of the primary uptrend support line, currently @ 36'379. RSI should be watch also closely as there is potentially a BULLISH DIVERGENCE in progress too !!! LAGGING LINE is also attempting to cross under the daily clouds bottom level. In order to invalidate this triangle pattern, the BTC should at least, firstly recover and hold on a daily closing basis above 39'750 and secondly, quickly reenter in the clouds area. 4 HOURS (H4) As for D1, watch closely RSI price action and especially next H4 closing which, potentially, may trigger a RSI bullish divergence. 1 HOUR (H1) No RSI bullish divergence detected yet ; for the time being this indicator is still converging to the downside, meaning that any reversal should be seen as a corrective move only. As already mentioned in D1, a recovery above 39'750 in this hourly time frame would, temporary, neutralise the ongoing downside risk Your comments are welcome. Have a nice week and all the best IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
SHIB/USDT : Moving into a triangle !BINANCE:SHIBUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it ! SHIB has formed a symmetrical triangle and now it's moving near to the higher trendline. Despite of that it's reaching near to the apex of the pattern; There're few possibilities to look for ! - Bullish case; If we get the breakout above the pattern and hold above S/R zone ( mentioned Grey zone ), Then we can aim for $0.00003432 and $0.00004230. - Bearish case; If we get the rejection below the pattern and hold below S/R line ( mentioned Green line ), Then we can aim for $0.00001866 and $0.00001514. Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
by Helical_Trades
9
KCSUSDT is ready to explode?On the daily timeframe, the price is testing the upper trendline of the big pennant, exactly 19.5$ on 0.618 Fibonacci level and the price is going to create a Cup and handle as well. On the 4h Timeframe the price had a rejection from the 21.2 Resistance and now it's testing the previous weekly support. How to approach? the price could have a false breakout of 19$. In that area the market finds the liquidity for a new bullish impulse. the price needs to have a breakout from the 21.2 Big resistance. So, IF the price is going to have a breakout from 21.2, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
38