I'm not sure if this is a rising wedge (bearish), a pennant (bullish) or even an ascending triangle. Any comments?
Ascending triangle but conflicts with 1h H&S and rising wedge?
Looks like a bullish divergence on the 12h chart. I'm hoping for a retrace down below 6k ideally and then a confirmation of strong rally and then i'll be looking to go long.
Looks like this could be an incoming bullish flag confirmation pattern
Looks like this could be an incoming bullish flag confirmation pattern
I have been tracking a bearish pennant on XBTUSD for a number of days and it has just crossed the 3/4 duration marker, which means that it is likely to resolve soon. We are currently trapped below the 0.382 fib and even if we break into it again then we're rapidly running out of space in the pennant; it will resolve (one way or the other) by 2nd Feb. This pattern...
1) Losing momentum challenging the 12H 200 EMA 2) Losing momentum challenging the 1D 100 MA 3) Losing momentum challenging the 4H 50 EMA 4) Bearish pennant formed by red dashed lines 5) Potential mini head and shoulders pattern forming on the 1H 6) Potentially constrained by the RSI arc (totally speculative - something i've been toying with today)
One large pennant formed from 20k ATH, one smaller one recently and i have drawn what is probably a non-sensensical super pennant containing them both. You might be able to tell that i've been chart watching a little too much today!
1) Losing momentum challenging the 12H 200 EMA 2) Losing momentum challenging the 1D 100 MA 3) Losing momentum challenging the 4H 50 EMA 4) Bearish continuation pennant forming - see red dashed lines 5) Potential mini head and shoulders pattern forming on the 1H 6) Potentially constrained by the RSI arc (totally speculative - something i've been toying with today)
For some time i've been wanting to try to visualise the waves that the different period/wavelength charts produce to see if I could understand the wave pattern interference, which I presume is what Elliott Wave theory provides the analytical key to. Sadly i'm too stupid to understand what the wavelength of each chart is, so i have been drawing a blank. How long...
A break of the neckline of what looks like a second but this time sloping head and shoulders pattern would likely lead to more down trend, which is in keeping with my overall trade plan (see related ideas)
BTC is heading upwards but RSI on the 4H chart is becoming exhausted as it approaches 50 from below, which likely corresponds to top of the yellow fib channel on my chart. There is also significant resistance at 12.5, which coincides with the top of the yellow fib channel. I have highlighted the area where i think the reversal should take place. If this doesn't...
To my eyes, if the downward fib channel survives the current attack by the bulls then we're likely to see a significant correction to the downside.
Short term ascending channel XBTUSD BTCUSD?
XBTUSD possible head & shoulders forming?