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Wedgebreakout

BTCUSDT is creating a rising wedge?Bitcoin had a bounce from our weekly support after a dump due to war, the price created a V shape. On the 4h Timeframe, the price is testing a key level on 39600 on the daily resistance on 0.5 Fibonacci level. If you look on the left you can see an accumulation before the previous bearish impulse, it means that this area is so strong to break. the previous candle created a false breakout, no bullish momentum followed the candle, and the Volume is decreasing. If we exclude the nervous candles about the war, we can identify a rising wedge. A rising wedge with two up-sloping trend lines. The volume trend usually slopes downward. How to approach? We are monitoring the price, a clear breakout of 38300 with retest should be a clear sign for a new bearish impulse, 37k is the first 4h support. The setup is invalidated if the price is going to have a breakout and retest of 42k –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
12
INJUSDT is testing the 6$, ready for the breakout?The price is creating a falling wedge on the 4h timeframe inside a descending channel. The market is testing the daily resistance on 6$, it's a key level A falling wedge marks the corrective phase in this measured move-up formation. Note the receding volume trend of the wedge. How to approach? IF the price is going to have a breakout from the 6$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
GALAUSDT is testing the 0.786 Fibonacci levelThe price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$ On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$ How to approach? IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy , we can set a nice order. The setup will be invalid above 0.3$ ––––– 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
14
AGIX Demand Zone, Falling Wedge ReversalAGIX was traded in a falling wedge since September 2021. On 21st January price breakdown the lower trendline and find strong resistance between $0.13 and $0.11 – a high demand zone. Panic selling caused by market uncertainty, Russia – Ukraine conflict, etc. is over and whole crypto market is seeming ‘pretty healthy’. These in conjunction with the relatively low selling volume and the long shadow candlesticks give a higher probability for a bullish reversal than a bearish continuation. The begging of the uptrend will be signaled with the breakout of the lower trendline; however, the confirmation will come with the price breaks the upper line and holds above the $0.175 resistance zone. If you’re a conservative trader wait for the price to breaks the resistance at $0.175 and place your stops just below the upper trend line. If you’re a more aggressive trader, now is the time to go long or wait the price to return in the demand zone. I’ll keep my analysis updated to any significant changes.
ALong
by Rhaonnor
Gold coiling up for a big moveIt's been a long time coming but it looks like the Gold break out is getting very close now. On the chart there is 2 visible wedge patterns, one takes the extremes / outliers into account (trend lines marked in white) and the other excludes the outliers (trend lines marked in yellow), both are near the end. There is further confluence with the OBV indicator also in a tight wedge pattern. Using trend lines on the OBV is great for picking breakouts and breakdowns in price. Question here is which way will it break??? With the economy slowly turning to poo there is a strong fundamental case for increase in Gold prices but another clue may lay in the Fib Circle chart that I have used. With the Fib Circle centred at the 2016 low this chart shows that at each new band the price has had two distinctive reactions. First the price typically touches or goes marginally across / through the band and then has a fall, there has been only one band which had some consolidation but no major fall. The second reaction after the fall, when price has somewhat stabilised and moved into the new Fibonacci Zone the price then strongly climbs up again. It has only been the most recent run (within the grey Fib zone) that has experienced price falling back deeper than the original dump when it moved into this new zone. To sum up I'm bullish on Gold. Price has just entered a new Fib Circle Zone and I think a breakout to the upside within a month (or perhaps two) is highly likely and then a run up to make new highs could follow.
COMEX:GC1!Long
by gary_trades
AUDIOUSDT is creating a falling wedgeThe price is creating a falling wedge on the daily timeframe, after a bounce on the weekly support. On the lower timeframe, we can see that market had a breakdown from 4h support now new resistance How we can trade this scenario? I'd like to see a breakout from the falling wedge and 4h resistance with volume, Wait for a successfully flip of 4h resistance into new support. If that WILL BE THE case we ARE GOING TO apply our Plancton's rules and look for a new long position. Beware of weekly resistance (red one) because the price could get a rejection. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Long
by InkyGrip
6
BBIG on a breakout? Testing 200 MA?Wedge 1, retracement after run up, break out of pattern using underlying support, bounce off 200 MA, 12/26 EMA crossover, run up Wedge 2, retracement after run up, breakout of pattern using underlying support, bounce off 200 MA, 12/26 EMA crossover, run up Wedge 3, retracement after run up, breakout of pattern using underlying support, 12/26 EMA cross over possibly coming, this time trading under 200 MA 200 MA major resistance but a break above is BULLISH to me - look for golden cross if bulls maintain control.
BLong
by OccamsPhazer
4
Bitcoin DivergenceHello everyone Before we start a discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it ! BTCUSDT : bitcoin was printing a descending wedge and meanwhile, a divergence between the price and MACD was seen. the price reacted to the very important support zone and then, braked the descending wedge pattern. A short term rising trend is possible. I determine the SL and TP for a good R/R ratio. please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Long
by niktraders
2