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Waves

WAVESUSD: First time above the 1W MA50 in more than 1 year.WAVESUSD crossed above the 1W MA50 for the first time since April 18th 2022. With the 1W time frame turning neutral (RSI = 48.860, MACD = -0.216, ADX = 28.633) this should be treated as a first indication of a long term trend change but will get validated only if the 1W candle is closed above the MA50. We will go long on that signal and will target the R2 on the long term (TP = 6.55000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:WAVESUSDLong
by InvestingScope
1
📉🌊 Potential Falling Wedge Pattern Formation on $WAVES ChartBINANCE:WAVESUSDT $FallingWedge $PatternFormation $TradingView Greetings, fellow traders! 👋 I'd like to share an intriguing chart pattern I've identified on the BINANCE:WAVESUSDT chart. It appears that a potential falling wedge pattern is forming, suggesting a possible bullish reversal in the near future. Let's delve into the details! 1️⃣ Falling Wedge Formation: The BINANCE:WAVESUSDT chart displays a sequence of lower highs and lower lows, converging within two trend lines. This pattern closely resembles a falling wedge, characterized by a contracting range. Falling wedges often signify a bullish reversal. 2️⃣ Volume Analysis: Volume analysis is crucial for pattern confirmation. Ideally, we would expect to see diminishing volume as the wedge develops, followed by a surge in volume upon breakout. This could indicate increased buying interest that may potentially propel the price higher. 3️⃣ Resistance and Support Levels: It is essential to monitor the upper resistance trend line and lower support trend line. A breakout above the resistance line, accompanied by notable volume, might suggest a bullish breakout. Conversely, a breakdown below the support line could invalidate the pattern. 4️⃣ Price Target and Stop Loss: Should the falling wedge pattern confirm, a common technique to estimate the potential target is to measure the widest part of the wedge and project it from the breakout point. Regarding stop loss placement, it is often advisable to position it below the support line to mitigate potential losses. Nevertheless, it is important to remember that technical patterns should be used in conjunction with other forms of analysis, such as fundamental research and market sentiment, to make well-informed trading decisions. To summarize, the BINANCE:WAVESUSDT chart is currently exhibiting a potential falling wedge pattern, indicating a possible bullish reversal on the horizon. Nonetheless, confirmation through a breakout above the upper resistance trend line and a surge in volume is essential. Traders are advised to exercise caution and implement appropriate risk management strategies. What are your thoughts on this pattern? Share your insights below! Remember to conduct your own analysis and consult with financial professionals before making any investment decisions. #WAVES #FallingWedge #PatternFormation #BullishReversal #TradingAnalysis #TechnicalAnalysis #Cryptocurrency #TradingView
CRYPTO:WAVESUSDLong
by STP_MrNodeItAll
🔥 Why I'm Still Bullish: Bitcoin Elliot Waves AnalysisOver the last few months I've made several Bitcoin analyses where I discussed the Elliot waves pattern I discovered. To this day, my prediction of price movement is spot on. With this analysis I wanted to give you all an update on where we are and what we can expect. Below you find a couple of past analyses in chronological order. Assuming that BTC will follow my Elliot Waves prediction, there's still more juice left in this run. The fact that we're consolidating (and not reversing) right below the 31k resistance is very bullish in my eyes. Only thing we need now is some kind of catalyst to push us through this massive resistance, be it bullish macro news, ETF approval, or simply a spike on low volatility. What I'd prefer to see is a strong move through previous local tops (we've bounced off the 31,000 - 31,500 area like 5 times now), and an immediate move to 33,000 to confirm the break out and leave bears in disbelief. My target area for this year remains the same: 36,500 - 40,000. Would be very surprised if BTC manages to break through 40k this year. But hey, anything is possible. To invalidate this analysis I have to see a move below 25,200 (dotted purple support) before confirming a break out through 31k. Are you bullish or bearish? Tell us why in the comments 🙏
INDEX:BTCUSDLong
by FieryTrading
32
🔥 The Market Will NEVER Expect This: Bitcoin Elliot WavesIn this analysis I want to take a look at a highly unexpected bullish outcome for the market: Bitcoin's 2022 bear market was nothing more than a corrective Elliot wave, and that we're about to see a new all-time high in the near future. Not sure when BTC will top or how high it will go, but 100k seems like a decent target for somewhere in 2024. I'm sure that this is one of the least expected market outcomes in people's minds, since most of us (including myself) think that crypto will rise again after the halving. However, the stock market is booming currently, and new all-time highs are not far-fetched at all. If stocks can make new highs, why can't Bitcoin? If this pattern plays out, expect a long bear market, 2 or more years at least. Know that this is not my most likely scenario. It's highly unexpected, and also highly unlikely because of the inflation/interest rate driven macro. Still, it's a view that deserves a look. Share your thoughts in the comments!
KRAKEN:BTCUSDLong
by FieryTrading
37