WAVESUSDT is testing the supply zone inside a rising wedgeThe price had a nice breakout from the descending channel on the daily timeframe.
After the breakout the market had another breakout from the static daily resistance with volume on 1.8$ area.
on 4h timeframe the price is testing the supply zone, the 2.5$ area is a key level for WAVES, and now the market is creating a rising wedge.
A rising wedge is a bearish chart pattern consisting of two converging trend lines, with the first line connecting the recent lower highs and higher highs, and a second trend line connecting the recent lows. The resulting shape looks like a triangle that is angled upward. The opposite of a rising wedge pattern is a falling wedge.
What's next?
If the price is going to lose the local support and retest it as new resistance we could see a retracement until the previous daily support on 2$ area
Wedgesfalling
Up Means Down / Down Means Up for BitcoinSuper simple idea here, each time we've been in a rising wedge we've finished it with a move down. Each time we've been in a falling wedge, we've finished with a move up.
The present falling wedge started as a rising wedge and then moved down, now it is a falling wedge, and now I'm expecting correction as we've been in a downtrend for a little over 400 days here.
Support/Reistance Areas:
Support - area in the green box
Resistance - red box
Targets:
TP 1 - appears to want to get to at least 26.6-26.7k, somewhere between the 200 day SMMA and the 200 week MA.
TP 2 - could see 30.2k, somewhere in the middle of our previous bearish wedge, crossing above the 200 day SMMA.
Conclusion:
If both targets are reached, will re-evaluate and publish an updated chart. If we break and close below the falling wedge, idea is invalidated.
DOTUSDT Falling wedge + bullish divergence in many indicatorsI'm deeply in love, don't you know pump it up, you got 2 pump it up.mp3
possible falling triangle wedgewatch the falling wedge for the bullish reversal. 20 SMA ~365. interesting symmetry from the swing high to what now might be the swing low. due own due diligence, not a recommendation either way! large risk profile in this name as ATH is up over 400% year to date.
Gold just keeps on going!This trade has been even better than my 1st targets show. I did not exit this trade still yet. I may though soon as we may be at a top and this trade has made so much money for me. Gold has been very good to me this year. Here is my initial trades ideas I posted too and links below.
initial idea:
change of plan of the idea:
and revalidation of original idea:
This shows that a plan can be altered as condition change, and in the end still end up valid.
Hope you have found this interesting. Please press thumb up in my idea if you like this.
<3 Miss Bunny
it's going to go about 42000$ this weekBe greedy when others are fearful.
No one is worried about the future, especially cryptocurrency ! there is a beautiful pattern ( bullish falling wedge ) ! :-) it's going to go 42000$
TQQQ if you don't short you might be in for an atomic Wedgie!!!Since Sept TQQQ looks like it's formed mini Wedge patterns inside possible Wedge ready to Form. The downside is calling to complete this atomic Wedgie Sandwich!!! Don't be tricked by the long play or the atomic wedgie will hurt!! This is only an incredible idea so please do your own due diligence! Comments welcome!
🐻 Wedges Patterns 🐃Hello, my dear friends! Today we are talking about Wedges Patterns!
Link on a good view👇🏻
Let's start!!!💪🏻
Wedges are some of the main classical figures in technical analysis. There are two types of wedges:
☝🏻 - Rising Wedge pattern - both sides of the figure are directed up;
👇🏻 - Falling Wedge pattern - both sides of the figure are directed down.
✔ A rising wedge pattern is formed when price increases slow and a tapering pattern forms. Price can't go longer rise further, but at the same time, as if they continue to gradually update local highs. That's suggests, that the pressure of sellers (bears) is gradually increasing in the market.
✔ A downward wedge pattern is formed when price decline slows down and a tapering pattern is formed, and volume indicators gradually decrease. Prices are no longer able to decline further, but at the same time, as if they continue to gradually update local lows. That's suggests, that the pressure of buyers (bulls) is gradually increasing in the market.
💡My picture shows, that the “Wedge” directed 👇🏻 down is a bullish 🐃 model, since the trend is up and the price has broken the resistance line (went up).
And the “Wedge” directed up ☝🏻is a bearish 🐻 model, as the trend is directed down and the price has broken through the support line (went down).
📢 These signals are strong and YOU can trade on them.
⚠ But if the price in both cases would go in the opposite direction (the opposite direction to the trend), then this would be a weak signal. Trading in this case is not recommended, as it's too risky. 🙅🏻♀️
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Your Rocket Bomb🚀💣
PS : 👇🏻👇🏻👇🏻Below I put links on my previous ideas 👇🏻👇🏻👇🏻
TOMO/BTCSTP Crypto Alert 5/22/20 @everyone -- Swing Trade - - - 4hour chart looking bullish - Swing Trade - Falling Wedge
Ticker: TOMO/BTC
Entry: 4150-4250 sats
Take Profits:4350, 4450 ,4550, 4650(.236 fib), 4750, 4850, on up to 6550-> (measured move of the falling wedge) -->11k-12k sats is longer term target of the fib extension!
Stop Loss: 5-7% stop loss however you wish to implement (depends on your entry)
3C Smart Trade Link:
