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Ascending Channel

Ethereum ETHUSDT - Elliott Wave on the weekly! + ABC completed- This is the weekly chart for ETH - analysis since the big covid crash in 2020. - Wave 1 and wave 3 created ascending channels during their move, so we should count it as waves 1 and 3. - It means that we should expect a last 5th big wave to the upside! - 0.618 FIB extension (wave 3 -> wave 4) is around 21 000 USDT. - ABC correction can be completed (wave 4) and we are ready for a next pump! - If we take a look at the MACD indicator, we can spot a huge bullish divergence. - Currently the market structure looks like a bullish rectangle (red one), which is a very bullish continuation pattern.
Long
by UnknownUnicorn2537518
7
BTC - Rising Channel?I'll be honest- I don't think this is what is going to happen, but just presenting a possibility. BTC is in a potential ascending/rising channel, of which it is currently testing the mid-point of that channel. On previous touches of the midpoint it has seen bounces or rejections. We could potentially see BTC bounce off this midpoint as support. It would need to close above it on the Weekly timeframe for that to happen. If it does fall below, it should hold the 200 EMA. Outer-limit of this channel sits at around 12-14k. Again, not my predicion. I expect to see 20k in the next couple of weeks. I would imagine the buying pressure at that point would prevent it going lower, and it would not stay at that price for long.
BITFINEX:BTCUSD
by ronzo777
3
Just reached the bottom trendline of channel.To me the bottom trendline of the channel appears to be this bottom purple trendline…if this wedge we’ve been in all April decides to break upward here right at the beginning of May I would’nt be surprised if the current candle will be the one that finally bounces us up from the downtrend we have been in all April. There’s also a chance we could send a wick below this bottom purple trendline, in which case there are 3 very strong trendline just below it (not shown here) that would ultimately be likely to hold support unless of course the bear market is confirmed. For now i lean slightly more bullish in the immediate term and expect some sort of bounce in the near future. If I see us confirm the breakdown of this channel however I will be more likely to start favoring the bearish scenario but a wick or 2 or even some daily candles closed below wouldn’t necessarily be enough to confirm the breakdown. For now I still think this wedge will trigger but know what to look for if it decides to nullify itself. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
1
USDCAD DAILY (11/5/22)Here we have usdcad in a uptrend channel where it has only made 3 touches so far. we did get a breakout of this channel but price was able to give us solid bullish candles to get back in and close within the channel giving us a fake out (Highlighted in graph). This fake out also gave us the 4 touch of an inner channel which has also given us a flag pole formation. I believe that UC has the potential to reach between 1.341 & 1.351. I will post analysis of lower time frame in the next post.
Long
by J_Pipsfx
Trading the price channelTwo trades one long and one short trading the upper and lower bands of a price channel. I dont generally trade a price channel for many reasons, but with the long term chart dominating trend in my favour it worked out. For this trade my long-term chart was (W) chart and my current price chart (D) chart. The current chart is where i take my entry, stops & cover my positions. First trade was in January when price entered a DZ, while the Long-term chart was still in uptrend. I took the LNG w/ a STP below the DZ. i was risking 0.90 per share for a reward of X3 if price hits my Profit Target PT1 at the top of the channel. The Second trade was more recent in April with the long-term chart (W) in a downtrend now, & price is coming into the upper court of the channel, my SHRT executed near the top of the channel, provided a low Risk entry short with a STP loss of 1.2 per share. The reward was again a X3 if price enters the lower band of the channel. & today the price entered & I CVR my SHRT.
TSX:QSRShort
by greatful-me
Ethereum ready to goETH is slightly on the support line (green/yellow around $2750) of an ascending channel (yellow oval). RSI is showing bullish divergence in some areas which indicates ETH is ready to go north. Right now it's at $2929 but we need to break the $3050 resistance first to confirm the start of a possible move next few days to higher levels ($3200, 3600 or maybe 4500). Any move to the downside of the $2929 support will invalidate this chart. This is just my thought and not advice to enter a trade. Do your own research.
Long
by Casablanca05
2
Non-BTC/ETH Alts approach "bounce or break" moment!!Over the past year, alt coins in the crypto space have been taking quite a hit from the back-and-forth motions of BTC and ETH. Alt-coins are once again at their own recent lows when BTC was between $32-33K back in January despite the price of bitcoin dancing around a significantly higher $37-38K price today. I typically believe that ETH determines the general direction of the crypto space instead of BTC (albeit BTC can determine the trend for ETH). However, there are quite a few occasions whereby cryptocurrencies can deviate from both BTC and ETH as indicated in these charts. The first chart is the percentages of all cryptos BUT bitcoin and ethereum . As you can very well see, the percentages have been forming an ascending triangle pattern (bullish pennant?) over the past year, and once again the percentages are nearing the bottom of this triangle. The second chart is the total market cap of all crypto EXCEPT bitcoin and ethereum , and it appears that an ascending channel has been forming since early 2021 for which the market cap is once again near the bottom of this trend line (for details on how I calculated the total market cap of everything BUT bitcoin and ethereum, see my previous post on how you too can calculate this value and more ). The key question is: will these resistances hold or will they break over the next few days? Either way, these look to be interesting charts to keep an eye on for the trend of crypto beyond just BTC and ETH over the next few days/weeks. But as always, this is solely my opinion and should not be taken as financial advice. But please like or comment if you agree or see anything further!
CRYPTOCAP:TOTAL2Long
by crypto_trends
2
XRPUSDT wants to retest the daily supportThe price is creating a descending channel on 4h and bounced exactly on the weekly support on 0.65$. the price got liquidity from the previous demand zone of 0.63$ How to approach? IF the price is going to lose the 4h support, we could see a new bearish impulse until the daily support 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
17
KNC/USDT : Breaking below the wedge, But still into channel!BINANCE:KNCUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $KNC has formed an ascending channel and it's currently moving into it, On other hand, there was a formed rising wedge that got broken by recent candles. This rejection has come with an opportunity for us to locate our Short toward the channel's lower! If you're not interested in the market's bias yet; Then you can wait for the channel's rejection and locate your Short on a proper retest of the broken channel... Be advised that if any rejection happens below channel; Then the main support are $4.35 and $3.55! Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Short
by Helical_Trades
23
$BTCUSD ascending channel 1D - Doom?gm. Let's try this again lol. $BTCUSD remains at an area of support in an ascending channel on the daily time frame. Can bulls hold on here? I am not entirely convinced. Looking weak... let us see what the NA open do. Williams %R signaling oversold, media sentiment is "Doom-loop". Play the game. Call limit order filled: 39557 tp_01: 42591 Stop: 36316 If the channel breaks, a move down towards fractal 34324 is possible. spot trade. Don't margin trade.
BITSTAMP:BTCUSDLong
by saburdometals
Wedge break out up or channel breakdown?I personally think the wedge breaking up makes more sense to get validated than the channel breaking down does..Until I see us form a lower low on the daily (below 28.6k) I tend to side with the bullish pattern. If the channel breaks down we could dump pretty severely as it is also the flag of a bear flag with a pretty lengthy pole. Only way we do that is if we have indeed entered the bear market…and even then the breakdown target for the bear flag is so low it seems unrealistic for it to choose a breakdown over breaking up out of the wedge. Not impossible though with the right combination of black swans and fud. If we do break up from the wedge I think it would make a lot of sense for the breakout point to be where I’ve place this dotted pink line because the target takes us back up to retesting the resistance of the yellow horizontal. So odds are good if we break up from the wedge it will be in the next few daily candles. In order to do so we must first overcome this strong horizontal here around 39.6k that acted as strong support before….it has been at least temporarily flipped to resistance and it was such strong support that it’s likely to be similarly strong resistance. That is the resistance to watch and if we can flip it back to solidified support we should validate the wedge breakout. If not and we do trigger the channel breakdown the next supports that are clutch would be 33k, 30k, and 28.6028.7k if we lose those bear market is likely to be official as under 28.6k we form a low low and will likely follow it up with a lower high not long after which would confirm the bear market. For now I think probability slightly favors the bullish wedge breakout over the channel breakdown but we must be vigilant and prepared for either outcome.
GEMINI:BTCUSD
by DrDovetail
2