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Wedge

Gold will start to decline to support level inside wedgeHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a few days ago entered to range and started to trades inside. In the range, Gold reached the support area, which coincided with the support level, and then made a correction movement to the bottom part of the range. After this, the price made a fake breakout and in a short time rose to the 2530 level and broke it, thereby exiting from the range pattern. Next, the price a little rose, after which made a small correction and then continued to move up inside the wedge. In the wedge, the price reached the current support level, which coincided with the support area and the resistance line of the wedge, after which turned around and started to fall. Gold declined to support line of the wedge and then continued to grow and soon reached the 2680 level, broke it, and made a retest. The price bounced and rose to the resistance line of the wedge, where continues to trades close to this day. So, in my opinion, Gold can little grow higher than the resistance line and then start to decline to the support level. Also, I think the price, after falling to the support level, will break it and continue to decline, therefore I set my TP at 2660 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
1
BITCOIN - Price can make correction and then continue to riseHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago price entered to wedge, where it at once declined from resistance line to support line. Also, it broke $58900 level, but later BTC backed up and broke this level one more time, after which made a correction. Then price in a short time rose to $65800 level, and even entered to support area, but then bounced down. Price exited from wedge and then started to trades inside triangle, where it fell to support line first. After this movement, BTC started to grow and soon reached $65800 level, broke it, and now trades close support line. Possible, price can exit from triangle, fall to support area, and then bounce up to $71500 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
FILUSDT → Weakness in altcoins will manifest itself in decliningBINANCE:FILUSDT after a false breakdown of the 3.800 range resistance is giving signs towards the continuation of the decline. The coin is in a global and local downtrend and there are no reasons to change direction. The focus is on the support of 3.688. Altcoins are extremely weak on the back of bitcoin's strong rally. The dominance of the flagship is currently at record highs, and the altcoin season has not arrived and apparently will not come anytime soon. Bitcoin is testing strong resistance zones and cannot grow all the time. Any short-term reaction can affect the entire cryptocurrency market, which will color the coins in the red. Support levels: 3.688 Resistance levels: 3.800 Technically, relative to 3.688 a descending triangle is forming after a false breakdown of the range resistance. It is a rather strong conglomerate. Breakout of 3.688 and price consolidation below this area will provoke further selling and price decline to 3.4 - 3.3 Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:FILUSDT ;) Regards R. Linda!
Short
by RLinda
9
XPT Surges as EMAs Align with Bullish Chart PatternH ello! XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in. Regards, Ely
CAPITALCOM:PLATINUMLong
by Elysian_Mind
Sold 1/2 Bitcoin. Raised Stops.Even though we did not reach my 1:2 rrr target, nor did my sell signal fire off, I am choosing to take 1/2 of my Bitcoin profit here, raise my stops, and hold the remainder of the position. I should’ve done this at 68k, but wanted to see how this market would handle the top of our channel. All along the big resistance target I have discussed has been 68k. I still believe we could break through it, however, the chart is beginning to disagree. Inside of my descending channel (which is bullish long-term) we have this ascending wedge pattern beginning to form (this is bearish). If correct and it plays out, it would take us all the way down to 48k. Sound significant? Yeah, that’s ‘cuz it is! You’ve heard me discuss 48k many times in the past. It is the neckline of a larger inverse head and shoulders pattern seen on the weekly chart below. We wicked down once in an attempt to kiss and retest. But that may not have been enough tongue action for these bears? Mark this wedge out on your charts and watch it closely. It is significant. And if it breaks? To 48k we’ll go.
INDEX:BTCUSD
by stewdamus
Bitcoin can make correction and then continue to growHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price a few days ago entered to wedge, where it at once rebounded from the resistance line and dropped to the support line of this pattern. Also, the price broke the 59000 level, which coincided with the buyer zone, but later BTC turned around from the support line and in a short time rose to this level and broke it. Then it made little correction to the buyer zone, after which continued to move up to the 65300 current support level, and even entered to support area, but soon turned around and fell below, making a fake breakout. Price tried to grow, but failed and dropped to the support line of the wedge, which coincided with the 59000 level, and then made a strong impulse up to the resistance line of the wedge pattern. Also, BTC broke the 65300 level, after which made a retest inside the support area, and now the price trades near the resistance line of the wedge. So, in my opinion, the price can make correction to the support area at first and then it will rebound up, exiting from the wedge. Next, I think, it can continue to grow, therefore I set my TP at 71K points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
GOLD - Price can exit from wedge and fall to $2625 levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A not long time ago price fell to $2625 level and then bounced up to $2665 level, after which started to decline inside channel. In falling channel, price some time reached $2665 level, but couldn't break it and later Gold fell below $2625 level. Price exited from falling channel and started to grow inside wedge, where it broke $2625 level one more time. Later price made a gap and made correction to support line of wedge, after which bounced up to resistance line. Also, price broke $2665 level, and at the moment it continues to grow near resistance line of wedge. So, I think, Gold can rise a little, exiting from wedge, and then bounce down to $2625 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
1
$DOGS Trading Idea: Falling Wedge Breakout with Retest IncomingWe’ve just witnessed a classic breakout from a falling wedge pattern on BINANCE:DOGSUSDT . After an extended downtrend, marked by lower highs (LH) and lower lows (LL), the asset broke through the wedge resistance, signaling a potential bullish reversal. This pattern, known for its bullish nature, often indicates an upcoming shift in momentum from sellers to buyers. Key Levels & Strategy: Entry Point: The optimal entry for this trade would be around the 0.001030 area, which coincides with an order block (OB) just below the current price action. This level presents a good opportunity as we expect DOGSUSDT to retest this zone before making its move upwards. Stop Loss: For risk management, consider placing your stop loss slightly below the OB. There are two scenarios to accommodate different leverage profiles: High Leverage Traders: Use a stop around 0.001010 to manage the increased risk. Low Leverage Traders: A more conservative stop should be set around 0.000974 to allow room for volatility. Take Profits: Scaling out profits is key in volatile markets like DOGSUSDT. Here are the take profit (TP) levels: TP1: 0.001163, aligning with a strong resistance point. TP2: 0.001346, marking the next major liquidity zone. TP3: 0.001659, the upper target where DOGSUSDT could reach if bullish momentum sustains. Market Sentiment: The overall market structure has been shifting in favor of the bulls after several CHoCH (Change of Character) moments during the downtrend, hinting that bears are losing strength. The falling wedge breakout further supports the case for an upside movement. In such scenarios, patience is key as we wait for the retest of the OB and the market to confirm bullish momentum.
Long
by MadeByAK
2
Notcoin Daily Chart (NOTUSD) Price Analysis – Potential ReversalThe chart shows a downtrend with Notcoin price currently trading at $0.00800102, forming a descending wedge pattern marked by the orange lines. This indicates that the price has been consolidating, but there’s potential for a breakout from this pattern, typically a bullish signal. Key levels and patterns observed: 1. Weekly Fibonacci Zone: The price is currently in this support area, which could act as a strong base for an upward move. 2. Bullish Breakout Scenario: Two blue arrows project potential price movements. After a possible breakout above the wedge, we can anticipate a rally toward the next resistance zones. First target at $0.01288067. Second target at $0.01795970, representing the upper resistance level. This analysis suggests that a breakout from the descending wedge could lead to a significant upside, with major resistance levels being in the $0.012 and $0.017 ranges. Traders should watch for confirmation of the breakout and monitor the Fibonacci zone for support in the event of a retest.
CRYPTO:NOTUSDLong
by UnknownUnicorn10159907
Bitcoin update on Oct 16, 2024: Bearsih alert!I just updated my chart and wave counting from the Bitcoin, nothing is change on the big picture, one more leg down is most possible scenario. The adjustment from my previous view is on the "X" wave that contain a-b-c correction showed longer and higher correction, but it's still valid as the "c" made 5 waves on it. So, i can see the "5th wave" of "c" of "X" is done or almost done, next destination is to completing its "Z", before we head up to the massive bull run. Let's ride it together.. CHEEERRSS!!!
BITSTAMP:BTCUSDShort
by steveivan
Is Bitcoin's Golden Cross Signaling Parabolic Moves Ahead?Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investing in cryptocurrencies is highly volatile and speculative, and it is essential to conduct thorough research before making any investment decisions. Bitcoin (BTC), the pioneering cryptocurrency, has exhibited a remarkable surge in recent days, forming a bullish technical pattern known as a golden cross. This development has fueled optimism among analysts, who are predicting parabolic price movements shortly. Bitcoin's price has consistently climbed over the past three days, reaching its highest point since July 29th. This robust uptrend has propelled the cryptocurrency to retest the psychologically significant level of $68,000, marking a substantial increase of nearly 40% from its August low. The Golden Cross: A Bullish Signal The formation of a golden cross occurs when a short-term moving average (SMA) crosses above a long-term SMA. This technical pattern is widely regarded as a bullish signal, suggesting that the underlying asset is experiencing a reversal from a downtrend to an uptrend. In Bitcoin's case, the golden cross was formed when the 50-day SMA crossed above the 200-day SMA. This indicates that the cryptocurrency's short-term momentum has turned positive, potentially signaling a sustained uptrend. Analysts Forecast Parabolic Moves Encouraged by the golden cross and Bitcoin's recent price performance, analysts are expressing bullish sentiment and predicting parabolic price movements. Parabolic moves refer to rapid and exponential price increases, often characterized by a steep upward curve. Several factors are contributing to this optimistic outlook: • Institutional Adoption: The growing interest and adoption of Bitcoin by institutional investors, such as corporations and hedge funds, are seen as a significant catalyst for price appreciation. • Macroeconomic Factors: The ongoing uncertainty surrounding global economic conditions and inflationary pressures is driving investors towards safe-haven assets like Bitcoin. • Technical Indicators: In addition to the golden cross, other technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), are also signaling bullish momentum. Breaking Above the Falling Wedge Bitcoin's price action has also been supported by a breakout above a descending falling wedge pattern on the daily chart. This technical formation suggests that a bullish reversal is underway, further bolstering the case for higher prices. However, it's important to note that while Bitcoin has reached a new high, it has yet to close a daily candle above the resistance level of the falling wedge. A successful close above this level would confirm the breakout and increase the likelihood of further upward movement. Conclusion The formation of a golden cross and the breakout above a falling wedge pattern have ignited bullish sentiment surrounding Bitcoin. Analysts are predicting parabolic price movements as institutional adoption, macroeconomic factors, and technical indicators all point towards a sustained uptrend. While the cryptocurrency's future remains uncertain, the current technical landscape suggests that Bitcoin is well-positioned for a significant price increase. However, it's crucial to approach investing in cryptocurrencies with caution and be aware of the inherent risks involved.
BITSTAMP:BTCUSD
by bryandowningqln
HelenP. I Gold will exit from wedge and continue to move upHi folks today I'm prepared for you Gold analytics. In the chart, we can see how the price, some days ago, broke support 1, which coincided with the support zone and dropped to support 2. Also, XAU made two gaps, when it declined, after which it turned around from one more support zone and rose back to support 1. Then price turned around and slowly declined to the support zone (2628 - 2622), and when it reached this area, Gold broke support 2 and fell to the trend line. Later, the price turned around and started to grow near the trend line inside the wedge pattern. In this pattern, the price broke support 2 one more time, made a retest, and rose almost to support 1, making a third gap. After this, XAU made a correction to the trend line and then made an impulse up to the resistance line of the wedge, breaking support 1. At the moment, the price trades near this line, for this case, I expect that XAUUSD will drop to the support zone and then bounce up, exiting from the wedge. Then it can continue to grow as well, that's why I set my goal at 2700 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDLong
by FirstNameHelen
2
GBPUSD Long Opportunity: Bullish Falling Wedge & MACD RDI’m looking to buy GBPUSD on a breakout from a bullish falling wedge pattern, spotted on the H2 timeframe. The MACD indicator shows regular divergence (RD), signaling weakening bearish momentum. This divergence indicates potential reversal, supporting the breakout. Trade Setup: Pattern : Bullish Falling Wedge Timeframe: H2 Entry: Upon confirmation of the breakout Stop-loss: Just below the wedge structure to minimize risk Target: 1.3240
Long
by SRA_Trades
NVIDIA GOING TO $75?? Unlikely but the chart shows...We have a DOUBLE TOP AND A RISING WEDGE with a price target of $75 on the daily chart. It seem unlikely but there is a big old gap from back in Feb 2024 at $75. There is another gap that needs to be filled around $119 that seem more likely. IMO the market like to balance itself by filling the gaps it leaves behind. The RSI looks to of topped out and is also curving over. Its very unlikely for NASDAQ:NVDA to drop that far down, but down to $119 seems likely before a possible Christmas rally (and wash sales) in late DEC. NVDA is such a strong company and demand for its chips is high, I really don't like the looks of that Double Top combined with a Rising Wedge. Safe Trading everyone!! (Charts are only part of the bigger picture especially with Nvidia, it is a beast of a company and who wouldn't love the opportunity to buy more NVDA at $75)
NASDAQ:NVDA
by JoeKing1
1
#LTCUSDT #1D (ByBit) Ascending wedge breakdown and retestLitecoin lost 100EMA acting as resistance now and is pulling back towards it, more retracement down seems likely on daily. ⚡️⚡️ #LTC/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Short) Leverage: Isolated (5.0X) Amount: 5.0% Current Price: 64.32 Entry Targets: 1) 65.78 Take-Profit Targets: 1) 55.34 Stop Targets: 1) 71.01 Published By: @Zblaba CRYPTOCAP:LTC BYBIT:LTCUSDT.P #Litecoin #PoW litecoin.org Risk/Reward= 1:2.0 Expected Profit= +79.4% Possible Loss= -39.8% Estimated Gaintime= 1 month
Short
by TradingOn