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Descending Triangle

BTCUSDT Descending Tringle - Wyckoff RedistrubtionBtc creating classical Descending Tringle Pattern with potential of fake breakout on Top and its look like Wyckoff Redistrubtion Schematic Descending Top - Decreasing Volume - Uptrust and Sign of Weakness - Pattern will be Confirmed if Fake breakout happen on top and price break bottom line on rejection and Pattern is fail if price close candle above UT Target Point 1 Short Term : 37500 Target Point 2 Mid Term : 35000 Target Point 3 Long Term : 33500 Ali Dastafkan.
Short
by Psychosocial
2
Litecoin LTCUSD - Ascending triangle! + new ATH soon!- If we take a look at the chart, we can definitely spot an ascending triangle . - We have very important double top resistance right at the ALL TIME HIGH level. - Litecoin (rank 17) is prepared for a huge pump! - We need litecoin, because bitcoin transactions are very expensive. - That's why everybody uses litecoin at this moment. (Paypal, ATM machines etc..) - RSI is prepared for a next pump! - 1:1 FIB extension = 1750 USD Profit target. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓ - If you want to see more of these ideas, hit "Like" & "Follow"!
COINBASE:LTCUSDLong
by UnknownUnicorn2537518
6
CRYPTOCURRENCY CURVE (CRVUSDT) BEARISH MOMENTUM (BREAKDOWN)Curve ( CRVUSD) 1 Hour timeframe -> Descending Triangle Chart Pattern. This can be a breakdown level which indicates a lower highs with strong bearish momentum. This crypto was trading above 200-EMA for a while now and ready to make a move downside (For a healthy market to move, it should break 200-EMA as well) It has been taking horizontal support (2.756) thrice now and is coming back for the fourth! It has also faced resistance from trend line 5 times as you can see! And the two red circles shows the resistance faced from 50-EMA (green line). Clearly, it is consolidation within a range and ready to make a move. It can even give a false Bull Trap (Trapping Buyers into thinking the price is going upwards) Therefore only take entry into trade when : 1. Strongly breaking horizontal resistance level (2.756) 2. A strong candle breaking 200-EMA downwards (blue line) The targets are 2.602 and while trailing the target, you can also try for 2.4
Short
by raghav_tradeit
8
Descending Triangle on GBPUSD A descending triangle is a bearish chart pattern. For the short term, we can still take advantage of buying with a target price of 1.37600 - 1.38000. The price will reach this target within 1-2 weeks. If the price has touched the area of 1.37600 - 1.38000 then sell with the target price of 1.35800 - 1.34800. This is also confirmed by: 1. The dollar index is likely to fall to 92,300 in the near future. (1 to 2 weeks). 2. The tapering signal is said to be starting as soon as possible, and the next FOMC Statement is scheduled for November 4th.
Long
by badiatrg
ADA - 1d chart updateADA is still in a Descending Triangle on the Daily Chart. Note that a descending triangle is a bearish pattern. ADA needs to break back above the descending trend-line for renewed upwards momentum. ADA is fighing to stay above its Bollinger Bands Middle Band Basis 20 Period SMA. ADA is back above its Least Squares Moving Average (LSMA) for this 1d timeframe. A candle above the LSMA is considered a buy signal for traders who use this indicator. Today’s Binance Volume is lower than yesterday’s and note that the Volume Bar is back under its Volume 20 Period Moving Average. ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. ADA is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 5 daily candles i have selected. If we look at the On Balance Volume (OBV) the OBV (Blue Line) has increased but note that it is still under its 9 Period EMA (Orange Line). If you are waiting for confirmation of renewed upwards momentum then you need the OBV (Blue Line) to cross back above the 9 Period EMA (Orange Line) and stay above. The Average Directional Index (ADX DI) is indicating the trend strength has dropped with the ADX (Orange Line) at 29.83 still below its 9 Period EMA (Black Line) which is at 32.67. The -DI (Red Line) has dropped to 17.92 and the +DI (Green Line) has dropped to 13.18. This tells me that both Negative Momentum and Positive Momentum has dropped and that the trend strength is still uncertain until the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) on the id timeframe. The Moving Average Convergence Divergence (MACD) is indicating ADA still has a while to go on this 1d timeframe before we see the MACD Line (Blue Line) cross back over the Signal Line (Orange Line). Note that we do have lessoning Histograms but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone. The Descending Trend-Line of the Descending Triangle is a major resistance level. I wouldn’t get excited until ADA crosses and CLOSESs a daily candle ABOVE this level, and unless the OBV (Blue Line) crosses back above the 9 Period EMA (Orange Line) on this 1d timeframe, then ADA will continue to create Lower Highs. I hope this is helpful with your trading and hodl-ing. Notes: Descending Triangle = Dashed Lines on Chart LSMA = Black Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal red Line on Chart Volume = Red and Green Bars bottom of Chart. Volume MA = Orange Line going through Volume Bars bottom of Chart.
BINANCE:ADAUSD
by TradingThroughTheLens
6
Ethereum ETHUSD - Road to 25 000 USD! + Parallel channel- Ethereum looks very strong from the technical perspective on the weekly time frame. - The price is above the ALL TIME HIGH from 2018, which is very bullish of course. - For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓ - Also the price is above 0.236 fib, 20 weekly moving average and the blue ascending channel! - The ascending channel fits absolutely to the dollar! - Next target is 1:1 fib extension! - RSI is ready for the another pump to the upside very soon. - If you want to see more of these ideas, hit "Like" & "Follow"!
BITSTAMP:ETHUSDLong
by UnknownUnicorn2537518
13
HMMM.. Will we see a strong correction?Right now GOLD is making a descending triangle pattern... This pattern usually lead to a break to the downside... Letss see how GOLD will act in the coming weeks and months... I am suspecting it will fall as I believe that we are still in the bullish cycle in coming years.. But if not, then we can confirm that $1700 ish is the bottom. When we are in a bullish or economic growth, investors and retailers usually will leave safe assets and go into a rather risky assets to generate higher return... Assets such as stocks and cryptos would be able to perform really2 well if we are still indeed in the bull cycle.. My analysis predict that GOLD could go back to $1300 - $1450-ish if there's indeed a strong movement to the downside as investors and retailer leaving GOLD for other assets. But as always, not financial advice... #NotFinancialAdvice
TVC:GOLDShort
by ZombieGod11
BTC - Will history repeat itself for a 3rd time?The big question is..... will history repeat itself for a 3rd time? If we look at the BTC Daily Chart, at the moment, it looks like BTC is in a massive Descending Triangle, its apex is around October - Dec 2022. For those that don’t know, a Descending Triangle is a Bearish Chart Pattern. BTC needs to CLOSE back ABOVE its Descending Trend-line! If BTC cannot manage this, then BTC will continue to create Lower Highs pushing the price closer to the Horizontal Support Line that is the Base of the Descending Triangle. As we have seen twice before, a break below the Base of the Descending Triangle leads to around a 47% drop for BTC. Now, I am not saying that this is going to happen, but what i am saying is that i know what BTC needs to do to keep it from happening a 3rd time……. which is a successful CLOSE ABOVE the Descending Trend-line, and then the price needs to stay ABOVE it and continue making Higher Highs and Higher Lows. It’s as simple as that. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by TradingThroughTheLens
6
ALGO/USDT : Breaking out the trendline ! BINANCE:ALGOUSDT Hello everyone 😃 #ALGO has formed a descending triangle, The movement is marking to be bearish by the current bearish trendline. But there is an attempt to break above the trendline, Also after any correction to FIB's level; EMAs will support the movement and it should pullback from that points.. Have to mention that Volatility is being bullish too ! So there will be two bullish scenarios : - Break above the trendline at current point and volatility cause another bounce by the bullish crossover - Retest on lower EMAs and pullback from the support zones which has been merged with FIB's levels. 📚 Targets are mentioned on the chart, Potential +70% growth after a correction on FIB's levels ! 🔴 We might face more FUD news as #BTC is approaching the 50K's resistance again, So manage your risks and don't engage more than 4% of your portfolio on ALTs. Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
23
ADAUSD Sending Mixed SignalsImportant things to note: BTC ran while ADA remains stagnate. ADA has bullish divergence on RSI. Flagging pattern broke to downside, produced small bump in price. Small descending triangle. Test of 50MA will determine if it moves higher or gets shot back down. Next test will be resistance 2.78. A lot of accumulation at support. If prices go lower, likely to test 50MA sitting at about 2.19, this can produce a strong bounce. If price breaks 50MA on the daily, 2.0 is the next stop. My targets remain the same as of now. Important Dates to Take Note of: ADA Summit Sep 25-26 2021 (likely to produce more important dates) So, BTC has ran and the 3 drives pattern seemed to hold up in that case. Now if we look at ADA we can see bullish and bearish signals. First we have bullish divergence on the RSI. We also had a break in the flagging pattern to the downside which produced a small bump in price instead of hitting the price floor. However, ADA will test the moving averages all the way up. If it passes the test, it is likely to move higher and test the resistance level at 2.78. If the price moves lower, and breaks the small descending triangle to the downside, it will have to test the 50MA at 2.19 which could produce a significant bump in price. That is really all we see right now. If the 50MA on the daily fails, we will see 2.0 and take it from there. We have mixed signals right now, but I am not too worried about it, my targets are still the same at the moment. We will see what happens with each signal until we have some form of confirmation. Again, I do not subscribe to the doomsday scenarios you hear everyday. In the case of BTC at the moment, it will need to stay above 48 to take the drop to 38 out of the picture completely in my opinion. We will know soon. That is why it is important to take it step by step and trust in what you see. All of my targets are backed up by patterns, signals and trend analysis. I use a very traditional approach, that is just how I trade, personally. We will see where it goes from here, but unless I see anything that says otherwise, you all know what to expect. I will continue to keep an eye on ADA and update accordingly. Thanks again everyone for being patient while I am busy studying over here and producing these charts rather quickly! I appreciate it a lot. Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSD
by mysticalwalrus
47