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Rising Wedge

Ethereum ETH - More upside is coming! | Elliott Wave | Channel People are calling for ETH to flip BTC, but this is really a serious thing. If BTC loses its #1 position, then it could be a catastrophic scenario and may cause a panic sell of BTC. Of course, this event will take down all coins. But I don't really see any reason for ETH to flip BTC. If you want to bet on it, then good luck, but the chances are really low in my opinion. But overall, Ethereum is still one of the strongest altcoins in the crypto market at this moment. I expect one more impulsive wave to the upside to complete the superior impulsive wave (as per my Elliott Wave count). Also on the daily chart, we have an ascending parallel channel with a very well respected upper trendline. There is absolutely no bearish divergence on the RSI indicator, so the uptrend is really strong and stable. Of course, there is a possibility that we will retest the parallellity of the channel from the downside. Look at my ideas about Bitcoin, alt season and BTC dominance in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
51
Bitcoin BTC - Explosive breakout soon! | Wedge | Elliott Wave Bitcoin is still struggling to do an impulse wave with a gap. The rising wedge is close to a breakout, but be aware of a possible fakeout first. On the daily/4h chart, we have a total of 9 waves, which is really great at this point, because this indicates a motive/impulsive structure. Generally, 5,9,13,17,21 are motive/impulsive structures. On the other hand, 3, 7, 11, 15, 19 = corrective structures. Please keep that in mind! So if we drop even lower from this point, to 20k, for example, then we can count this 9-wave structure as an impulsive wave and we can expect much more later. As per my Elliott Wave analysis, the next wave to the upside should be a massive impulse wave that all bulls want to see. The rising wedge also looks a little bit like an ascending triangle, which is, of course, a very bullish pattern. Next stop 32,500 USDT. We can also wipe out all stop losses at this level before a possible consolidation. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
74
🤖 #BTCLIVE - 15.08 - #IDEA 🤖 - Part 3🤖 #BTCLIVE - 15.08 - #IDEA 🤖 - Part 3 Hmmmmm....things are looking pretty bearish Alt Market Cap Currently in a bearish rising wedge, RSI is over stretched now and almost overbought and any further rise 75 and above will confirm a bearish divergence. Expecting a crash from here for Alts - money will flow out of alts and into primarily USDT and BETH* I feel the low caps are really going to feel the pain here. Additionally we are hitting the long term top of the descending channel as well as about to get smacked by the 200DEMA. USDT Dominance No surprise USDT Dominance is looking primed to breakout, there is a small chance capital can flow primarily into BTC although highly unlikely. Expecting USDT Dominance to pump. Currently in a long long term falling wedge - as money has been slowly buying positions in alts and BETH. We are additionally finding perfect support on the 200DEMA to bounce. BTC Dominance This is holding range well and at the lower end, expecting a large bounce here potentially to about 48% - given the other scenarios this makes perfect sense as capital will likely flow out of all crypto to USDT but out of BTC at a slower rate boosting the dominance quite fast. BTC Price Long term bullish but short term looking pretty bearish with the rising wedge, long term trendline resistance, 50DEMA resistance and the other scenarios painting a pretty bearish case. *My new short-hand for BTC & ETH, don't sue me
CRYPTOCAP:TOTAL2
by Kryptochristian
BTC/targeting $14.5k - Bearish - Raising Wedge (fibonacci)You propably have heared already about BTC dropping to price around $14.000, technicaly this is supposed to happen as Raising Wedge after "falling trend" predicts drop of a price once its gonna give up to one of the Fibonacci Retracement Level (0.618 or 0.5 or 0.382). Good option i could suggest would be observing Higher Highs and Higher Lows if they break and turn into Lower Highs and Lower Lows (that scenario would turn recent BULLISH trend on BTC to BEARISH ) Recently we have tested second - Fibonacci Retracement level (0.5) the next one is going to be (0.382) and then possible drop max drop range might reach down to $14500 Before going down to $14500 we are going to test $17500 ( strong support which stopped bearish mid term market ). Even though, with High enough market liquidity that trend could turn into something more positive, and i have little hope that recent HYPE PUMP on ETH will turn this scenario into LONG TERM BULLISH MARKET .
Short
by jambulah
Range Trading Meets Pattern TradingMany times I enter discussions where people tend to bash pattern trading... ...saying that pattern trading is not actionable, that "most reversal patterns fail while most continuation patterns succeed", that "most diagonal patterns fail while most horizontal patterns work", that you can't derive direction from them. My answer is always that direction is not derived from the pattern itself (that would be statistically based only), but instead is derived from both interior and exterior context. When searching for actionable setups, again, patterns and diagonals will mostly provide bias, signs such as exhaustion and trend shifts, while horizontal SR (Support & Resistance) levels will actually be the ones we'll be looking for actionable setups. Here's a quick example of a Rising Wedge divided in three constantly smaller ranges showing a slowing down of the trend, where we can start seeing exhaustion by the constant failed breakouts of HORIZONTAL levels, and where one can derive potential direction bias from the first DIAGONAL trend break... ...potentially expecting now a cascade effect from smaller ranges down to the larger ranges, providing larger and larger expansion gaps ultimately running the Rising Wedge pattern target.
INDEX:BTCUSDShort
by Masserra
1
[08/15] Beast Trading _ Today's Bitcoin Perspective Beast Trading _ Today's Bitcoin Perspective Bitcoin broke its previous high of 24.9k and reached 25k. After that, I thought it was going down quite steeply, but now it's rising strongly toward a new all-time high (25k). Today, from a big perspective, we will check the future direction of response, patterns, and important lines that have appeared. First, the downward trend line from 32k, which I mentioned before. (Blue trend line) It has been on the decline for a long time since 32k, and Bitcoin has recently risen and met with resistance to this line, but it seems to have been supported by penetrating it again. This is a relatively mid- to long-term downward trend, so it can be analyzed that it can be a little positive factor for the rise for the time being. The second is a purple parallel channel. I've also mentioned this countless times in the market, and both 20.7k and 22.7k, which began to rebound significantly, hit the bottom line of the parallel channel and began to shoot strongly. Through this, I think it can be interpreted as meaning that I will protect this channel without leaving it, which is also a positive factor for the rise. The third is a large wedge pattern. (Orange) The top line connecting the high points also fits perfectly, and the bottom line is clean. Breaking through the top of the wedge is likely to be accompanied by a strong rise, and breaking through the bottom line is likely to be accompanied by a strong fall. You have to check the top and bottom lines of this wedge pattern. Finally, a small wedge. (Red wedge pattern) This wedge pattern up and down seems like a pretty significant pattern, although it's not strong resistance and strong support. However, you've already crossed the top while writing your analysis. I think it's the result of empowering further increases.
by BeastTrading_Sehyun
3
Is it over? Hi everyone, Yesterday I analyzed BTCUSDT and talked about the reason that we are still bullish in the short and midterm. (link down below) Today, we are going to be analyzing ETHUSDT, and the chart looks clear and beautiful. Right now we just broke above previous resistance where we took off some liquidity that was sitting above the previous high, and we are at a really important level of resistance of a wedge that we are inside of it. We are in the narrower channel part of the wedge and the price is showing a loss of momentum and a rejection of that resistance. Even though on the H1 timeframe price is in a symmetrical triangle, which is a continuation pattern, I lean towards breaking to the downside. However a break to the upside is possible, and if does so, I will analyze tomorrow where it will go. Btw, DOGE is looking good if it closes above the resistance. Maybe take a look if you get to read this post right away. Please comment if you have any questions, I will try my best to answer them. Thank you😊
Short
by yassin_khanji
FTX FTT - Strong altcoin! Huge base + Elliott Wave FTT is a very reliable and strong altcoin that you can find on the crypto market, together with BNB. FTX exchange is growing really fast, and there is a lot of demand for the token. If you want reliable and stable gains, this is a great choice for the long term. We have a clear and very bullish structure (rectangle consolidation) and the bulls successfully defended the previous swing low. My Elliott wave analysis suggests that we have completed an ABC correction (ZigZag 5-3-5) and we are prepared for the next impulse wave from here! If we take a look at the volume indicator, we can see very low bearish pressure, so it's really good to see. Our profit target could be 0.618 FIB extension from Wave 1 -> Wave 2, but I think we can go higher. We need to wait for the price to develop. I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
41
Ethereum ETH - Rising wedge is crashing! Drop to 1250 USD? Ethereum is unfortunately losing steam, according to my technical analysis. On the daily chart, the price is printing a clear rising wedge pattern that is currently breaking down! Ethereum has already made a massive 105% gain in 51 days, so I think the wedge is likely to break down rather than up. As per my Elliott Wave analysis, which is my main specialization - a major impulse wave has been completed and we are prepared for an ABC correction to the downside. Volume is generally lower during the 5th wave, and this is a textbook example here on the chart. If we take a look at the RSI indicator, we can spot a nice bearish divergence with a lower low swing on the indicator. The question is how deep the correction is going to be. We are retracing the first wave, so the correction is usually deeper. You can see 3 levels on the chart where I expect a bounce. For more ideas, please hit "Like" and "Follow"!
by UnknownUnicorn2537518
76
Bitcoin BTC - Explosive move soon! Next stop, 32 000 USDT! Bitcoin is absolutely prepared for an explosive move, with a high probability of success. As you can see on the chart, we have just finished a corrective structure (ABCDE ascending triangle) as wave 2 and now we can expect a massive third impulse wave to the upside! Triangles usually have a 3-3-3-3-3 structure as per Elliott Wave rules, and this is a textbook example pretty much. We have a first wave as a leading diagonal and I presume this makes sense from the time perspective. The next major resistance level is 32, 000 USDT, with some minor resistance for intraday pullbacks. The major EURUSD pair is breaking out bullishly, which favors Bitcoin because of the weak dollar. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
58
AAVEUSDT is creating a rising wedgeThe price bounced exactly on our Daily support after Head and shoulders formation from my previous idea. Now the price is testing the daily area around 103$ and the market is creating a rising wedge. right now the price is trying to create a new higher high. How to approach it? IF the price is going to lose the dynamic and static support, and retest it as new resistance, 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 🦐
Short
by InkyGrip
ConfusingHi everyone, Yesterday I talked about how Bitcoin was forming a head and shoulders pattern and the possibility of going to the last major resistance level. I also gave a free signal as an idea for DOTUSDT(Make sure to follow if you missed it) Today, I wanted to analyze something different instead of analyzing Bitcoin, so we going to take a look on Ethereum and Vet together, since they are showing different type of price movements. As shown on the chart, Ethereum is showing an ascending triangle, which is bullish, as the resistance is weakening by being hit multiple times. Also, it has formed a double bottom inside the wedge which is for really bullish too. However, looking at an altcoin that has been very volatile these last few day, VETUSDT, we can see that it just broke a bearish rising wedge. This is one of the cases that when doing a multipair analysis, it becomes confusing since we are looking at 2 uncorrelated charts that shows 2 different bias. So what to do? I think it is better to just wait for an opportunity to enter the market at a more confirmed directional bias. In this case, I would most probably wait for a breakout on Eth's chart, and trade the retest. Please comment if you have any questions, I will try my best to answer them. Thank you😊
Long
by yassin_khanji
TOTAL Crypto market cap - New rising wedge on the weekly chart! 2023 is going to be a very bullish year for crypto in my opinion! I believe we can reach a market cap of 6-7 trillion dollars by December 2023. Most likely, you have never seen this rising wedge elsewhere, because it's a brand new pattern on the weekly scale (LOG). 200 moving average is considered a strong support by huge institutions and hedge funds, and the bulls successfully defended this area. As per my Elliott Wave analysis, the ABC correction has been completed on the macro scale, and now we are ready for another bull market. We have a tremendous confluence to buy cryptocurrencies at this moment, as you can see on the chart. I expect massive gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
CRYPTOCAP:TOTALLong
by UnknownUnicorn2537518
42
Bitcoin BTC - Acceleration very soon! + Elliott Wave This local correction should be over very soon, and we can continue higher in the uptrend! It's not an easy task to do an Elliott Wave analysis here, but this is how I see it. As per my Elliott Wave analysis, we are in the impulse wave 3 of the huge impulse wave 3. Currently, we are very close to the acceleration point, where we will see an increase in volatility. I am very bullish on Bitcoin and I would never short Bitcoin on the futures market at the current or even lower price! I expect tremendous gains for selected altcoins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
82