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Broadening Wedge

🤖 #BTCLIVE - 05.08 - #IDEA 🤖🤖 #BTCLIVE - 05.08 - #IDEA 🤖 70:30 Long-Term Bullish:Bearish Technical Analysis: Current Status: Confirmed a descending broadening wedge - since the 1st August with the latest to failed breakouts. These are particularly bullish patterns - based on historical data showing a 79% frequency of breaking up from them. In the same data set it is claiming a 33%, although suggest you ignore that. With options expiration there is expected volatility which could see the breakout happen today although based on the most recent rejection we have seen some good support come at the POC line and 20 DEMA was lying in wait just below too. If it breaks out again things are turning v.bullish although breakout is not confirmed yet. Bullish Scenario Breaking and retesting $23.4k will see a short term target of approx. $24k and a bigger term target of $25.5k Bearish Scenario A Break down and retest of $22.7k will likely start the descent to $21.5k at the lower range of the longer term - breaking down on that will spell major bloodshed. Key News: - Pornhub no longer uses VISA/Mastercard likely to fall back on Crypto - Coinbase has received a class action lawsuit alleging the #crypto exchange made false claims regarding its business activities - Options Expiration - Elon Musk said to expect a recession Metrics: Exchange + Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure. - Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure. Miners / Miners' Position Index (MPI) - Miners' are selling holdings in a moderate range compared to its one-year average. + Puell Multiple - Miner's revenue is decreasing significantly compared to the cost they put in. This could indicate that price is undervalued along with the increasing miner's motive to hold their coins. On-Chain + aSOPR More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom. + Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins. + Net Unrealized Profit and Loss (NUPL) - Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses. + Transfer Volume - The total number of coins transferred has increased by 315.00% compared to yesterday. + Active Addresses - The total number of active wallets used to send and receive coins has increased by 21.00% compared to yesterday. + Transactions - The total number of transactions has increased by 72.00% compared to yesterday. Sentiment + Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase. - Korea Premium - Korean retail investors' buying pressure is relatively strong. - Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment. Derivatives + Funding Rate - Long position traders are dominant and are willing to pay to short traders. - Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers. / Open Interest - As OI decreases, it indicates investors are closing futures positions and possibility of trend reversals. In turn, this might trigger the possibility of long/short-squeeze caused by sudden price movement or vice versa. + Liquidation - 15624591.41 of short positions were liquidated in the last 24 hours.
by Kryptochristian
HLF: It was just a bear market rally?Herbalife Nutrition Short Term - We look to Sell at 24.72 (stop at 26.71) Price action has formed an expanding wedge formation. A move higher faces tough resistance and we remain cautious on upside potential. Selling spikes offers good risk/reward. Further downside is expected. Our profit targets will be 19.00 and 17.00 Resistance: 25.00 / 37.50 / 56.00 Support: 19.00 / 15.00 / 12.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:HLFShort
by VantageMarkets
RLC/USDT LONG SCALP SETUP! Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this RLC trade setup. RLC looks good here. Breaks out from the bullish descending broadening wedge pattern in 2hr time frame. You can open a long position here with the tight stop loss. Entry: At CMP and add more up to $0.94 Target1:- $0.99 Target2:- $1.04 Target3:- $1.08 Target4:- $1.14 SL:- $0.90 Lev:- 5x-10x If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
4
Bitcoin BTC - New bull market just started! Elliott Wave + Wedge The price is currently above 22 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders. I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD)! Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.382 FIB + ABC correction completed! The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend. As per my Elliott wave analysis - ABC correction (ZigZag 5-3-5) should be completed successfully and we can start a complete new impulse wave. Only Bitcoin is a safe bet for the longterm. It's the best store of value and altcoins are awesome for short-term to mid-term massive gains. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
Binance BNB - Strong buy signal! + Elliott wave + Triangle Elliott wave analysis on BNB was really hard, but this is my outlook on the 4h / daily chart. Don't forget that BNB on the weekly / monthly scale is extremely bullish, so we should follow the main trend. We have a broadening wedge / descending channel, which are usually both bullish patterns. Also the price is printing a local ascending triangle in the end of the trend - good to see! Impulse Elliott wave for this huge downtrend should be completed and it is possible that we will never see this low price again. BNB is indeed one of the most bullish altcoin in crypto. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
27
TrueFi TRU - Downtrend is over, can pump hard! + Elliott Wave Due to my technical analysis, i think this downtrend can be over and we can expect a pump anytime soon! On the daily chart we have a broadening wedge and also a local ascending triangle, both bullish patterns. If we take a look at the RSI indicator - we can spot a bullish divergence, always great to see. As per my Elliott wave analysis, the massive impulse wave to the downside should be completed and because of that, I expect an ABC retracement. Main Profit target is 0.618 FIB + end of the wave 4 (High liquidity area). We can also get stopped by the descending blue trend line, but i think it will break up! Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
15
Right Angled Descending Broadening WedgeChart Story here is.. from a Ascending broadening wedge the bears took it down.. and there was a great chance that a Bullish divergence would appear. It did... course went up and so a Descending triangle formation was there to bring the course down again. Because the price then widens a bit on the downside in a sideways move, I consider it a Right Angled Descending Broadening Wedge for now. Besides this pattern, you could probably also make a W pattern out of it but the characteristic of the Broadening wedge is "often", that after hitting the top or bottom 2 or 3 times the price comes back halfway during a rise or fall and then breaks out. these scenario's makes it possible to trade them but in times of macro economic uncertainties at the moment, caution is advised at all times. manage your risks at all times. disclaimer: this is not a financial advise
TVC:SILVER
by Tims.Technische.Analyse.
ADAUSDT wants new liquidityThe price got a rejection from the 0.618 Fibonacci level, where the price created the Neckline of M pattern. The price created a double top as well on 0.5$ level. How to approach? The market created a demand zone on 0.42$, so the price could create a bearish impulse in order to grab new liquidity for the reversal trade. 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
2
long term logarithmic growth fan pattern horizontal supportthe gann fan and log view with broadening wedge indicates stock is trending toward long term support. if we cant close over the 4/1 monthly its probably headed for that lower trendline. were at horizontal support so a bounce starting here would probably head for the 2424 area. closing above the mid 2400s and we could head for 2988 where TRAMA is currently hanging out. if 2050 breaks it could go as low as 1785 but its much more likely we see a monthly bounce soon.
NASDAQ:AMZNLong
by cerealpatterns
BTC: $32K NEXT, HERE'S WHY?Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC made a low of $28,700 and now I'm expecting an upside movement. BTC is forming a descending broadening wedge pattern in the 4hr time frame. If this pattern plays out perfectly and holds the $28,700 level then we can expect it to reach the upper trendline of the wedge. You can also open a long position here with the tight SL of $28,500 and target will be $32k-$33k If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
1
Descending Triangle for WEED?wow, hard to believe canopy is getting near my entry point in 2016-2017. This stock has been a rollercoaster since rec legalization in Canada. A Potential trading range is highlighted in green. Any price movement that is sustained below or above the green lines is noteworthy. If WEED doesn't hold the green line of support a gap down to CAD $2.80 is highly probable. If WEED breaks to the upside out of the downward sloping resistance of the broadening wedge go long, set your stop loss above the resistance line, and trade accordingly. If the top of the broadening wedge doesn't hold as support a decline back down to the baseline support is likely and it was a fake-out.
TSX:WEED
by ScotianBot
Bitcoin - Short term bull ideaKeep it plain, simple and minimize the noise! We nailed our last few trades! :) Sorry for the phone upload, but here we see the bull flag we were watching has turned into a descending broadening wedge (bullish pattern). If we get our confirmations, my target is around 33-34k. Also not surprised if we just nuke straight through this, as the market is clearly bearish . At the moment - the market is sideways, choppy and RISKY. I have various different set-ups I'm watching and always waiting for confirmations of each one BEFORE entering a trade. Comment your ideas down below :)
Long
by tradermoth
XTZ broadening wedge#XTZ/USDT $XTZ is inside weekly broadening wedge pattern, and price is near lower line. 🐮 holding the lower line of wedge that is the same with support zone, will increase price to resistance around $4 and break out from this resistance will head up price toward resistance of 0.5 fib level that is the same with ascending trend line. break out from ascending trend line in long term will increase price to upper line of wedge that is the same with 1.414 and 1.618 fib levels. 🐻 break down from lower line of wedge will drop price to support around $1.5.
BINANCE:XTZUSDLong
by parissap
2
BTC: BREAKOUT!! Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC/USDT update. BTC looks good here. BTC is breaking out from the descending broadening wedge pattern in a 4hr time frame. Holding the $45k support very well so far which indicates that bulls are still in control. All we need now is to break above $47k resistance and then be ready to go above $50k If any 4hr candle closes below $45k then this pattern will be invalidated. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
14
BTC LTF UPDATE! $50K OR $43K?Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC/USDT update. BTC looks fine in LTF. BTC is making a broadening wedge structure in 1hr time frame. Currently, it is trading at $45,900 and holding the support of $45,500 well so far. I'm expecting a good bounce from here. BTC has a resistance at $47k. Once it breaks as well as this broadening wedge then we are ready to go $50k If BTC looses $45,500 support then next support for BTC is at $44k and at $43k I'm expecting a big move incoming soon. Let's send it to $50k What do you think guys? Do you think $50k is incoming or we have to see more correction? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
1