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Falling Wedge

Link breaking above last potential top trendline of triangleIt’s still unclear whether or not link’s macro pattern is more valid as a falling wedge or a symmetrical triangle, however it seems now that we are finally closing daily candles above the last potential top trendline for that pattern. That trendline is most valid on the weekly chart so we still need to close the current weekly candle above the white trendline..after that we should see the follow up weekly candle confirm the white trendline as support on a retest ….if the follow up weekly candle closes above the white trendline odds are very good at that point the breakout will be validated…it may wait until the 3rd weekly candle to start the bullish impulse…or it could come as early as the current weekly candle…will have to see how the next few weekly candles play out. I chose to show this chart on the daily time frame instead of the weekly to illustrate how price action is also now back above both the 1 day 50 and 200 moving averages. If it can hold the daily 200ma as support during the next few weekly closes then the breakout will be confirmed. *not financial advice*
COINBASE:LINKUSD
by DrDovetail
Filecoin Short-term TargetsQuick post - Filecoin broke out of a falling wedge on the daily and is headed towards the 200 day EMA and wedge breakout TP 1 if it can get and hold above the EMA. Conditioned upon reaching the falling wedge breakout's TP 2 @ ~$10.70, which would take it above previous high of ~$9.75, that opens up the possibility for new targets for a double-bottom recovery. Get and hold above 9.75 and we have a confirmed double-bottom targeting $14.58 and then approx $17. Short-term chart here, but I've previously posted a much larger falling wedge breakout that happened quite some time ago but has been consolidating ever since. That possibility still exists should everything above occur and DXY doesn't turn back up shortening recoveries across markets. If conditions remain favorable, we could see a double-top on the HTF chart. See link to related idea below: This fell further than expected and has consolidated further than expected, but is still possible given the considerations mentioned above:
COINBASE:FILUSDLong
by dudebruhwhoa
5
Avax potentially breaking up from a falling wedgeIf price action can flip this green trendline to solid support the price could climb to the $28 target within the next month or 2. Fundamentally, one of the reasons for this pump is that Amazon Web Services (AWS) has partnered with Ava Labs, the company building out layer-1 blockchain Avalanche, to help scale blockchain adoption across enterprises, institutions and governments. “Looking forward, web3 and blockchain is inevitable,” Howard Wright, VP and global head of startups at AWS, said. “No one can call the time or date or quarter that it’s going to happen and it’ll be mainstream, but we’ve seen the cycles of growth before. The velocity of this one seems like it’s accelerating and we’re just excited to be a part of this.” The partnership intends to make it easier for individuals to launch and manage nodes on Avalanche while also aiming to give the network more strength and flexibility for developers. AWS will support Avalanche’s infrastructure and decentralized application (dApp) ecosystem, alongside one-click node deployments, through its marketplace. The affiliation will also include Ava Labs joining AWS Activate, a program that helps startups and early-stage entrepreneurs get started on its platform. All this should lead to sustaining bullish momentum for avalanche. *not financial advice*
BINANCE:AVAXUSDLong
by DrDovetail
2
FARM Wedge and W Pattern TargetsA ton of different alts making the same patterns. Smaller wedge breakout is headed towards the 200 day EMA (also halfway point towards TP 1) and then TP 1 and then 2. Smaller wedge reaches all its targets and remains above middle of W pattern, W pattern / double-bottom recovery begins and heads towards its TP 1 and 2 (with its halfway point to TP 1 equal to smaller wedge TP 2) Longer-term wedge success likely hinged upon all of the above succeeding, while DXY must not turn up quickly and strongly from where it is now (needs to continue moving down below 100, or hang out b/w 101-103 for a good while prior to moving up). Also be wary of Bitcoin Dominance, which looks bullish atm. If conditions are met, long-term target looks to be a slightly lower high double-top, for now. See related ideas in the links below, again many alts are making nearly identical recoveries along w/ Bitcoin.
COINBASE:FARMUSDLong
by dudebruhwhoa
3
BTC LTF UPDATE! BEST POSSIBLE SCENARIO FROM HERE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. BTC is still holding pretty well. The bulls are in complete control here. Let's find out what's the next possible scenario from here. BTC is forming a falling wedge-like structure in 1hr time frame. We have strong support in the $22.3k-$22.5k range. As long as BTC holds this zone we can expect another touch to the $23.4k level. After hitting $23.4k we might see a significant rejection but all that depends on how the price reacts there. Will post this scenario in our next update when BTC reaches there. Invalidation:- Breaks and closes below $22.2k is invalidation for this bullish scenario. What do you think about this? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
by CoreCrypto1
16
XNGUSD ready to reverse recent downtrend LONGXNGUSD has been on a long downtrend. On the 1 H Chart, a falling wedge is seen awaiting a breakout. Moving Average slopes are decreasing their negativity towards zero. ATR / Volatility is decreasing as is the downtrend momentum on the average directional index indicator. I see this as a long swing trade setting up for forex or alternatively a natural gas ETF like UNL / UNG or a natural gas stock like LNG. This trade would be propelled by the dollar losing strength, inflation being sustained, WW III in Europe continuing and the weather turning cooler the remainder of the winter.
FXOPEN:XNGUSDLong
by AwesomeAvani
3
Bitcoin - Last chance to buy below 20k! (lifetime opportunity) Congratulations to the bulls for this successful start of the bull market! It's really a pleasure to watch these candles. Bitcoin may give you the last chance to buy below the 20k level, so I hope you are going to take this once-in-a-lifetime opportunity! You can buy on the spot market or leverage long on futures. It's still possible to retest the previous breakout level of the trendline, which is around 18,300. So this will be your dream entry, and trust me when I say this! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. So, why do I believe bitcoin has reached its bottom? From the technical perspective, there are multiple indications, and I will tell you all the arguments. The halving is coming, and usually bitcoin finds incredible strength before and after the halving event. This is statistical data based on historical performance. Bitcoin is breaking out of the falling wedge, bullish reversal pattern on the weekly chart and also is breaking out of the major trendline established in November 2021 with a successfull retest. Basically, Bitcoin is above all major trendlines on the linear scale. We have a bullish divergence on the weekly RSI, that has been confirmed recently. All altcoins show huge signs of trend reversal, not just Bitcoin. As per my Elliott Wave analysis, the downtrend has been completed as an ABC ZigZag (5-3-5 structure). You can see my Elliott Wave count on the chart. We are starting a brand new impulse wave to the upside! On the way up, there is a lot of resistance. Resistance 1 is almost certainly going to be reached. The next resistance is the 0.618 FIB + 0.618 FIB LOG and, of course, the unfilled GAPS, POC, and the previous all-time high. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
125
Cardano - Explosion is ticking! Bull flag ready. ADA is definitely ready for a massive breakout on the major 3D/1W chart! I see a lot of signs, which I will show you in this analysis! The first bullish pattern is this huge falling wedge, which is very close to a breakout, and you probably want to catch this upcoming explosion! Also, we can see the previous descending triangle that broke down in fall 2022. Descending triangles occur before the end of the downtrend, so keep that in mind! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. On the way up, I see only three significant resistances. The first is the previous wave A, because people can speculate on its continuation to the downside to make an impulse wave. The second is the 0.618 FIB on the LOG scale, which is undeniably strong resistance along with the beginning of wave B. And the third resistance level is the previous all-time high. From the Elliott Wave perspective, the whole downtrend from September 2021 to December 2022 looks like an ABC ZigZag correction. This ZigZag is inside the bullish flag, which is especially powerful. Wave C finished at the 1:1 FIB extension from wave A to wave B and at the 0.5 FIB of the previous bull market from 2020-2021, so it definitely makes sense to me. Taking profits at the 0.618 FIB appears to be very efficient because after prices reach this level, we can expect sideways price action or a downside correction. The crypto market shows strong signs of a trend reversal, and I believe Bitcoin could reach around 30k pretty soon! More Bitcoin ideas will be posted soon, so stay tuned, and I wish you great success and happiness! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
70