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Decending

PEPE still in Decending Chanel but there is hopePEPE is in the huge Decending Chanel and it's almost weekend. What can we distract from the charts. Before we look into PEPE charts I've check BTC and we are still in de sideways accumalation channel there. On the other hand we see this massive AcendingTriangle that must break out soon. The question here is will ik go up or down. Again is friday and most weekends aren't that strong. Inside the AT we can find a Faling Wedge at the end... Those tend to break out to the upside. But again almost weekend.. Will it crawl up along the slope of the AT for a huge break out by monday. Or does it break down and grap more liquidity to gain momentum. Now the PEPE chart PEPE is still in de decending chanel. It did bounce on the Golden Pocket of the fib range so it tends to go up a bit. On the other hand we lost the support yesterday and that is now the resistance. On the lower time frames we could make some kind of double bottom but that is not a textbook version so trusting it is gambling. Lets see if we can get a reversal pattern like an Inverse Head & Shoulders or a nice Cup and Handle.
by RP_cryptotrader
2
GBP/USD Order Block Zone On The Daily Time FrameHi Traders, Looking at GBP/USD on the Daily today. Notice the descending trend line since the beginning of the year. We haven’t broken through this entire year and we have been making lower lows and lower highs all this time. This means that my overall bias on this pair is still bearish. I have marked up an Order block zone highlighted in blue. If we see a retrace up to that zone, I will consider going short only if my requirements with volume are met. This requirement is that the retracing volume cannot be larger than the bearish impulsive volume that sent the price down past previous support. If the retracement volume is larger then I will have to re-think and perhaps start looking for long setups. Trade safe out there! The Vortex Trader
Short
by TheVortexTrader
CADJPY A Strong Short TrendCAD/JPY has been in a strong uptrend that was established last week. However, this morning the pair witnessed a decent sell-off towards the 91.2 regions. There has been some support created at this level and it's looking likely that the price will retest near the recent high. However, as this high, 91.477, is a lower high compared to last week's 91.66 it's likely for the price to fall again. The RSI levels are also In overbought regions on the 4hr time frame. The target for this trade is at around the 90.6 level, with the stop loss just above the recent high of 91.8.
Short
by Orion-Markets
ICON WILL BREAK OUT OF ITS DESCENDING WEDGE!What Is ICON? The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds, or blockchain multiverse. ICON itself can be viewed as both a living organism and an ecosystem. Source: icon.foundation -ICON has had a violent correction over the past few months... -The Price May Take One Leg Lower (Down to $.28, Also Good Time To Buy) -DeFi Projects Are Not Going To Die.. The Strong Projects Will See ATH Again.. HODL, Weak Hands Will Fold.. The Contemplating Crypto Collective 🔸️Learn How to Trade and Invest Into Cryptocurrency🧠 🔸️Get Profitable Trading Set-Ups and Signals📈 🔸️Copy Our Diversified Long Term Portfolio📊 🔸️Engage With Our Skilled Community👥👥👥
BINANCE:ICXUSDLong
by contemplatingcrypto
BTC about to moveAt this time I do have a short position leverage and a long term not leveraged. I would like to create the case of the Short leverage case. News Well nothing really, but you know I always talk about GrayScale which maybe buy some for your Roth. Well according to Fintel Ark has a total of over 2million shares. This is very good for long term investors of Bitcoin. My reason of my short I still believe its too early to go long and second mortgage the house due to the fact that this level hasn't been broken multiple times in the past about over 8 times (4hr chart). After the bubble popped and during the run up too 14k after the bottom. -We are sitting at an overbought zone and MACD is sitting at highs, which usually means downturn. -The Fear and Greed index is sitting on Greed/Overly Greedy. This means people to them are just dumping money into Bitcoin to see the price rise without fear of a pullback. -Gold open up at its strange wick as most of the market did last week, yet Bitcoin is about 1.07% above Gold. Along with CME creating a gap of just over 260 dollars. -Target to see if we will go to the 10.6k levels will be 11225-11105. I know its a large gap, but I would pick 11191-11148, since many people don't believe in wicks as a trading tool yet I use them. Bullcase -Now long term believer in BTC the bullcase is simple and will justify the F&G (Fear and Greed). The fed came out that they don't mind inflation for now until we recover from Covid. This makes many long term believers in BTC as the asset, the best hedge against the USD inflation. -Target to watch out for is very close 11821. This will be an entry if we are in a descending wedge pattern. Final thoughts This could be a second round to build a Short position and many believe it is very possible to go as low as 10077 and not under 10k. Many traders are trying to figure out are we going to leg up first before the down turn or leg down then moon. Too me the case is bearish short term, yet with political unrest in US politics we will see how the market opens in 9hrs, where we can see the outcome of TESLA and APPLE after the stock split, which could cause market downturn and have a bloody Monday. Overall this TA is Neutral until the levels are hit Bull: 11821 Bear: 11225-11105
COINBASE:BTCUSD
by nathanielx9
1
USD-RUBUSD has been in a bear trend against ruble since March, it formed a topping pattern as a descending triangle and started a bear trend. since then it made another defending triangle as a bearish continuation pattern and broke down from it the target of that large triangle is around 68$. its currently completing another small descending triangle with a target around 69$. this chart is a beauty , triangle inception :D. the next technical support area on this chart is around 67.5$, also there is a gap around 68.5 which matches the target of the triangles. these technical setups together increase the chance of the price to hit those price targets so this setup can provide good risk to reward high probability trade. you can manage your risk around 71.5 and go short if we confirm a candle below the small triangle.
Short
by Trader_Shayan
2
GBPAUD TESTING LEVEL1.98509GBPAUD TESTING SUPPORT LEVEL 1.98509 , THE POUND HAS DECLINED BY ALMOST 5% AGAINST THE AUSTRALIAN DOLLAR RETESTING THE ASCENDING CHANNEL PATTEN ON TUESDAY.... SO I'M HOPING FOR A CONTINUATION IN THE DOWNWARD TREND FROM HERE ON BUT AS ALWAYS ANYTHING CAN HAPPEN... IF THE ASCENDING CHANNEL HOLDS THE PAIR COULD TRADE HIGHER BUT FOR NOW HOLD ON THE PAIR, IF YOU HAVENT ENETERED THE TRADE LOOK FOR ENTRIES BEARISH ENTRIES UNTIL WE SEE A SHIFT TO THE BULLS
Short
by PULEMokhothu
3
BTCUSD Possible Macro Descending Triangle Hello Traders, BTC update on the larger scale, we could be seeing yet another descending triangle after this parabolic rise, Points to consider: - Parabolic rise into descending triangle - Completion of possible wave 5 - Three Touches confirming price resistance, macro lower highs - Volume Tapering off in a similar fashion - EMA's looking to turn bearish - stochs also showing more downwards momentum BTC price action is looking more similar to the previous macro descending triangle that broke the well established $5,800 - $6,000 zone. We could see BTC retrace back to support (Green Zone) in the near future and if price holds support and bounces, then the likely hood of this being an actual descending triangle increases. Right now we need more price action on the longer time frame to confirm if this is the start of another potential larger move to the downside... What are your thoughts ? and remember, “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Marty Schwartz
BITMEX:BTCUSD.P
by The_Alchemist_Trader_
BTC weekly descending triangle targetsAs a follow-up post to my most recent string of bad ideas. BTC seems to be forming another descending triangle on the weekly time frame. I've been looking for a place to put some buy orders. The triangles final target comes in at $2154. The target leaves us in an area of zero resistance however $2000 psychological and $1800 stand out as strong support levels. Based on these numbers I plan to ladder in some buy orders starting at $2200 down to $1800. I except a strong bounce from this area and will reevaluate then.
BITSTAMP:BTCUSD
by RyanRogus