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Wedgebreakout

LINAUSDT is creating a falling wedgeThe price is creating a falling wedge on the monthly area on 0.02$ After the breakout, the market got a rejection from the monthly area. On 4h timeframe, the price is creating a channel below the Monthly resistance. How to approach? For a bull scenario, the price needs to get liquidity and it needs to create a clear breakout from the monthly and 4h structure above 0.24$ Otherwise, if the price is going to lose the 0.16$ and confirm the breakout, the next target is the 1.618 Fibonacci on 0.010$ 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 🦐
by InkyGrip
4
ROSEUSDT is going to create a falling wedge The price had a huge bearish impulse, bounced on the weekly support on 0.3$ and had a new breakout. The price retested the previous support as new resistance and the market went to test again the previous weekly support on 0.2$. Connecting the lows and the highs, the price is creating a falling wedge exactly on the weekly support. How to approach? We are monitoring the price, we could see a double bottom on the weekly support. IF the price is going to have a breakout from the falling wedge and 4h resistance, and turn the previous resistance into new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
LTCUSDT is creating a falling WedgeThe price bounced on the monthly support of 100$ after a false breakout from it. On the daily timeframe, the price is creating a falling wedge exactly on the monthly support. In 4h timeframe, the price is testing the resistance on 115 after a first breakout. How to approach? If the price is going to have a breakout from the 4h resistance and dynamic daily resistance and retest 120$ as new support, according to Plancton's rules we can look for a new long position. A breakout is not enough, you need a strategy ––––– 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
6
OCEANUSDT is creating a falling WedgeThe price got rejections from the descending dynamic resistance on the daily timeframe and bounced on the weekly static and dynamic support on 0.4$ On the daily timeframe the price is creating a falling wedge on the weekly support and now the price is trying to have ha breakout from the upper trendline and static resistance on 0.52$ On the 4h timeframe, the price is creating a rising wedge inside the main structure. The rising wedge is a bearish pattern, but, if the price is going to create a false breakout, we could see a breakout from the daily resistance. The setup is valid only after the daily breakout with retest and according with Plancton's rules –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
OLong
by InkyGrip
12
BTCUSDT is creating a rising wedge?Bitcoin had a bounce from our weekly support after a dump due to war, the price created a V shape. On the 4h Timeframe, the price is testing a key level on 39600 on the daily resistance on 0.5 Fibonacci level. If you look on the left you can see an accumulation before the previous bearish impulse, it means that this area is so strong to break. the previous candle created a false breakout, no bullish momentum followed the candle, and the Volume is decreasing. If we exclude the nervous candles about the war, we can identify a rising wedge. A rising wedge with two up-sloping trend lines. The volume trend usually slopes downward. How to approach? We are monitoring the price, a clear breakout of 38300 with retest should be a clear sign for a new bearish impulse, 37k is the first 4h support. The setup is invalidated if the price is going to have a breakout and retest of 42k –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
12
INJUSDT is testing the 6$, ready for the breakout?The price is creating a falling wedge on the 4h timeframe inside a descending channel. The market is testing the daily resistance on 6$, it's a key level A falling wedge marks the corrective phase in this measured move-up formation. Note the receding volume trend of the wedge. How to approach? IF the price is going to have a breakout from the 6$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
GALAUSDT is testing the 0.786 Fibonacci levelThe price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$ On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$ How to approach? IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy , we can set a nice order. The setup will be invalid above 0.3$ ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
14
AGIX Demand Zone, Falling Wedge ReversalAGIX was traded in a falling wedge since September 2021. On 21st January price breakdown the lower trendline and find strong resistance between $0.13 and $0.11 – a high demand zone. Panic selling caused by market uncertainty, Russia – Ukraine conflict, etc. is over and whole crypto market is seeming ‘pretty healthy’. These in conjunction with the relatively low selling volume and the long shadow candlesticks give a higher probability for a bullish reversal than a bearish continuation. The begging of the uptrend will be signaled with the breakout of the lower trendline; however, the confirmation will come with the price breaks the upper line and holds above the $0.175 resistance zone. If you’re a conservative trader wait for the price to breaks the resistance at $0.175 and place your stops just below the upper trend line. If you’re a more aggressive trader, now is the time to go long or wait the price to return in the demand zone. I’ll keep my analysis updated to any significant changes.
ALong
by Rhaonnor
Gold coiling up for a big moveIt's been a long time coming but it looks like the Gold break out is getting very close now. On the chart there is 2 visible wedge patterns, one takes the extremes / outliers into account (trend lines marked in white) and the other excludes the outliers (trend lines marked in yellow), both are near the end. There is further confluence with the OBV indicator also in a tight wedge pattern. Using trend lines on the OBV is great for picking breakouts and breakdowns in price. Question here is which way will it break??? With the economy slowly turning to poo there is a strong fundamental case for increase in Gold prices but another clue may lay in the Fib Circle chart that I have used. With the Fib Circle centred at the 2016 low this chart shows that at each new band the price has had two distinctive reactions. First the price typically touches or goes marginally across / through the band and then has a fall, there has been only one band which had some consolidation but no major fall. The second reaction after the fall, when price has somewhat stabilised and moved into the new Fibonacci Zone the price then strongly climbs up again. It has only been the most recent run (within the grey Fib zone) that has experienced price falling back deeper than the original dump when it moved into this new zone. To sum up I'm bullish on Gold. Price has just entered a new Fib Circle Zone and I think a breakout to the upside within a month (or perhaps two) is highly likely and then a run up to make new highs could follow.
COMEX:GC1!Long
by gary_trades