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Wedgebreakout

Nice rally for BitcoinHello Friends! Bitcoin had a nice rally out of this wedge pattern. Now it’s come to a strong resistance (green line). This resistance has been strong since April 2022. Strong break above .382 ($23,045) can potentially target $25,400. Break below .236 ($21083) might open the door to $20,500 or below. As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers! *This information and publication is not meant to be, and do not constitute, financial, investment, trading, or other types of advice. Do your own research.
BITSTAMP:BTCUSD
by MoneyFishing
Bitcoin's Multiple Descending Wedge Setups provoking Rally?Macroeconomic backdrop:: With sentiment in markets rising slightly from peak fear, due to recession fear provoked significant pull backs in commodity prices. Providing a likely reprieve in expected rising inflation concerns. This might in turn, influence central bank interest rate decision makers, too slow the rate in which they hike rates. Although we can only speculate on their desired intensity to crush demand, growth and inflation. We can assume that some decision makers, will look for the right opportunity to ensure slowing growth rates globally do not over extend downwards. Likely pausing or slowing the tightening measure as inflation falls. This could provide the macro set up for a bear market rally to occur. Bitcoin Long Trade:: In the short term we see a relatively small neutral wedge. The upside currently being tested at the time of this published idea. I believe that a breakout will occur to the upside, made viable by neutral to slightly rallying equity prices. The next significant resistance will be the bearish descending turquoise resistance line, that has been created from April and June significant rejections. This resistance line will be bolstered slightly by the falling 50 day moving average, which is lying close to this turquoise trend line. Depending on the macro and equity set up at the time when/if BTC's price enters the orange circle area. Further progression to the upside or a strong rejection will occur. Although bear market sentiment might suggest the case for a rejection is more probable, a short squeeze could allow odd price action to occur. This trade idea is enveloped in the larger descending orange wedge line. That might suggest a controlled further fall in this bear market. I believe that it will remain resistance if the global macro climate continuous to tighten, regardless of worries of over tightening and causing significant recessions. Significant recessions might will naturally correlate with significant job losses. Further degrading global production levels and decreasing supply. It doesn't take a crystal ball or goats entrails, to forecast the enlarged social welfare programs that will arise to support the unfortunate of us that will lose our jobs, due to over vigorous tightening. Best of Luck in your trading!
BITSTAMP:BTCUSDLong
by FortunaAlgoAnalytics
Very clear analysis on MSFT NASDAQ:MSFT Huge Head and Shoulders pattern, and MSFT is now trading in a falling wedge. The volume soared when MSFT broke through the neckline. aldought a falling wegde is seen as a bullish pattern, the measured move for the Heas and Shoulders patterns is far behond where the pricec is now, so for now I am bearish on MSFT and actually almost everything. But once the price breaksout of the wegde maybe the sentiment would change. When only looking at the daily candles there is a lot of noice and it could be kinda choppy. but I like to draw some simple lines, this gives a clear view of the situation. We could maybe profit from this falling wegde, by placing orders when the price is at or near the border of the wegde, but be carefull, please see my post about channels, where I explain how to profit from this situation, I also explain the dangers of trading this strategy. Have a nice day This is no financial advice.
NASDAQ:MSFTShort
by StijndeVries
1
BTC LONG VIEW CHARTThis chart is so simple but in the same time so good. In the last bear cycles: -When the price droped below the 150 WMA (Weekly Moving Average) (blue) and tested the 200WMA (yellow) we had a couple of months in consolidation between this 2 WMA; In this time of consolidation between the 2 WMA we also had an RSI indicator with oversold values (Order block on the RSI indicator); And on 2018 bear market we had a retrace to the 0,382 level of FIB retracement , precisely where we are right now. Curiosity As well on 2014 Bear market we have now a falling wedge pattern in formation (Bullis pattern). On 2014 the price broke down the support line of the falling wedge, Eventrough in the followng weeks the price came back to the falling wedge. Which is curiously the same thing that is happening ritght now, the price broke the falling wedge pattern and next i believe , given the market analysis above and the similarity with previous bear cycles we are close to a bottom and in a Exelent time/zone for accumulating Bitcoin
BNC:BLXLong
by AlexandreAmaro
ALGOUSDT needs new liquidity for the reverse trade The price lost the monthly support and now the price is going to create a falling wedge on the monthly support. The price had a false breakout from the falling wedge and it got new liquidity for a bearish impulse. On the 4h timeframe the price is testing the support above the demand zone. How do you approach it? IF the price is going to have a breakdown from the 4h support and grab new liquidity, tra 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
2
GBPUSD SHORTPOUND. We currently looking at at downtrend on the pound, Refer back to weekly chart as we break down our analysis, GBPUSD gave us a clean double top @1.42838 with clean enough confirmation, the pound has been in a downtrend for weeks now, not forgetting that the trend is our only loyal friend, coming down to 4H chart we see clean correction/continuation patterns , current price we see our mini double top , accompanied by the inner rising wedge , price broke and retested the rising wedge giving some indication of continuation, POSSIBLE TARGET AT @1.21588. Apply proper risk management (properly) and only risk 1% of your account
Short
by Mr_Benjis
6
How big is the rising wedge of frustration bitcoin?Now many indicators and traders find signals for the fall of bitcoin, I will try to add one more reason, and as a result, it may turn out We look at the chart from afar. It is easy to guess the support line that has been drawn since 2013, the one that Bitcoin falsely broke through in March 2020. In early May, the second breakout, it's hard to believe that the second breakout will also be false. Most likely, now we will see exactly what the breakout of the main support line is. From above, you can draw (a little ignoring the top of the hype of 2017) an ascending wedge. I went crazy when I saw that this wedge starts when bitcoin was worth 200 bucks. The breaking of such a wedge is a serious event for bitcoin holders, growth into the past support zone will now be resistance (now around 44,000). The figure head and shoulders where the 3rd shoulder is below the first two is a completely real signal to fall into the zone 17-19 000 (return to the previous peaks), this will only turn on the trigger for working out the breaking of the wedge. Any growth will need to be perceived as a rebound of a dead cat to a retest of the same line of already resistance. Then there will be a confident continuation of the fall to the nearest zone. At this moment, another head and shoulders will be drawn, with a descent of 7000-8000. This is completely normal, because at the beginning of the wedge BTC cost 200 bucks, and this is the real people who bought it, and in the world of finance it was already well known.
BITSTAMP:BTCUSDShort
by John_Wayne
2
POUND-More bull might be 2 much!!Hi everyone We all red the news from the federal reserve,well considering that many might think we can reach higher for GBPUSD. Well news always have a huge impact, but traders might have more. In 4 hours chart we have a bull wedge pattern and in case of breaking out of the trend line, the trend might go side way or bearish( more likely). Now we have a lower high which might be a good indication for many traders to take short right here. Support factors are bull trend line and level of 1.26$, and for resistance we have the prior high and 1.265$(might get a 2 bar reversal here) Hope this analysis helps you in a way. I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
by HubAlgo
EURO-Wedge pattern breakout Hi everyone After a good amount of bull market for EURUSD,now we can see the indications of a possible bear trend .These indications include less buying pressure and long shadows on top and bottom of last couple of bar in 4 hours chart. As the wedge pattern forms, in the next couple of bars we may get a breakout of the bull trend line.In my opinion, the price will reach 1.07 $ probably shows some resistance and break out of the current channel to the lower one and if we consider a measured move we may get to see it reaches the 1.065$ or if we consider this the continuation of our weekly bear trend line we may see lower prices. Hope this analysis helps you in a way. I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
Short
by HubAlgo