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Wedgepatterns

4H timeframe: forming a falling wedgeBitcoin broke the trend line support. But the question is: Is this a breakdown or a trap? This breakdown cannot be confirmed at this time. On the other hand, it can be seen that Bitcoin has formed a falling wedge pattern. The TSI indicator also shows a positive divergence. Looks like this could be a trap and there is a possibility of a break-up of this wedge. In this case, you can expect a local top. To confirm or reject this hypothesis, one must wait for the wedge pattern breakout
by cryptoonchain
DYDX- welcome to floor -1Hello everyone Since last week we had a great fall of the price on DYDXUSDT, as you can see today's bar went above the high of yesterday's, which gave me the impression of a pin-bar for a second and then turn into this terrifying shadow.I know this asset been nothing but down trend so far,but a price this low for such good asset is just unfair. Anyway we have seen the low of the market on Tuesday. This shape of the trend might turn into a wedge pattern and let us have a breakout to higher levels. For now we have the low of yesterday as support 4.05$ and 4.25$ as resistance level I would wait for higher lows and in case of a reversal pattern, I will enter on my second signal (NOT THE FIRST ONE).
by HubAlgo
2
ENJUSDT is creating a dalling wedgeThe price is testing the daily support on 1.3 inside a falling wedge after a rejection from the 4h resistance. Daily support is a key level. On the bigger picture, we can spot a demand zone above the weekly support on 1.176$ How to approach? the price could have a pullback until the previous 4h support now resistance on the dynamic resistance as well. If the price is going to have a rejection, we could see a new bearish impulse until the weekly support. The scenario is going to invalidate if the price is going to have a clear breakout above 1.4 ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
2
CARDANO ENTRY POINTS! DAILY / ADAUSDTHere we have my two scenarios and entry points for a potential breakout from this wedge. Either we will continue to oscillate within the orange TC all the way to GZ or be prepared to see lower levels of 0.60s before going up. I really wonder what is going to happen to Bitcoin once we reach the top of the wedge that has been forming since 2014 on DXY. If we look at the correlation between BTC and DXY within the period of this formed wedge pattern, every time the DXY rejected the top trendline the Bitcoin spiked by 1000%. Cardano will follow. Please apply risk management. All these entries are spot orders. Good luck all.
Long
by matejmn
ALPINE-Less sell pressure & higher lowsHello everyone On Alpine daily chart ,we don't have much of perspective or structure,but we have a well preserved daily trend line, so if we consider the last 4 bars on daily chart a last bear flag (see in 4 hours), and that combined withe the higher lows that we see in daily,from here of in the next 2 candle we may see reversal happening. For now,it's better to be traded in lower time frames. our support levels are a trend line & price level of 5.25$, possible resistance level 6.2$
by HubAlgo
DGB- good wedge formationHello everyone The bear channel of DGBUSDT is turning into a wedge pattern ( tight one)that shows a possible reversal or a steady bull channel formation in the next few days. On 4 hours chart however,we can see a small bear flag pattern and a possible head and shoulders pattern, which shows, that market can touch the support level ( 0.0225$)and come back and go up to resistance level 0.027$. P.S. : Wedge pattern is more likely to have a reaction,because of higher time frame , and volume.
by HubAlgo
1
EURO - Wedge to a bull trendEURO - Wedge to a bull trend hello everyone As I have mentioned before In my previous analysis, we have a wide divergence and we can have a reverse pattern by the end of the week ( double bottom ideally). I expect to see a good bull bar with almost no shadow on ether side on daily. The last week's candle closed with a long shadow and a small bear body that can be the end of selling pressure hopefully. our resistance level is 1.09$ and our support level is 1.078$, and I expect to have the price touches our resistance level by the end of this week.
by HubAlgo
Fantom - bear flag or wedge??!Hello everyone In past couple of days, in FTMUSDT ,the price been in a range between support level of 1.08$ and resistance level of 1.20$, which shows a bear flag structure but in my opinion with a less likelihood of going lower; because we have a wedge formation on weekly time frame( what you see on higher time frame IS more reliable). With that been said,I presume we will be able to witness the price breakout from this level and reaches 1.31$ ( more likely),or on the bad,side we will see the price breakout of 1.08$ and touches the 0.97$ level (less likely)
by HubAlgo
OXY - could break out of consolidation soon?After trading up strongly in late February, OXY went into consolidation for the past 6 weeks, forming a right angle wedge. It is now looking like a breakout to the upside is near. If and when it does start closing above 62.50, i will be looking at targets of around 72 (wedge breakup target) to 77 (a prior high way back in June 2018). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
NYSE:OXYLong
by Juliac
1
Ripple price predictionThe Ripple price has plummeted to the lowest level since February as the stocks and cryptocurrency market fell. XRP is trading at $0.7161, about 23% below the highest point this month. It remains about 47% below the highest point in 2021, bringing its total market cap to about $33 billion. Other coins like Ethereum, Bitcoin, Solana, and Cardano have plunged. The XRP price has plunged because of the ongoing concerns about the bond market. The ongoing bond sell-off has pushed yield prices to the highest level in years. The yields of the 10-year and 30-year are approaching the 3% mark. At the same time, there are signs that the yield curve inversion will continue for a while. This performance has helped drag most cryptocurrencies and stocks down. The tech-heavy Nasdaq 100 index has fallen by more than 8% from this month’s highest level. Likewise, the Dow Jones and S&P 500 indices have not done well as investors anticipate a more hawkish Federal Reserve. The bank has already hinted that it will deliver several interest rate hikes this year. Another reason why the XRP price has dropped sharply is the ongoing SEC vs Ripple case. The case is still dragging in court, and analysts expect the verdict to happen in this year’s second quarter. The daily chart shows that the Ripple price has been in a strong bearish trend in the past few days. However, a closer look shows that this crash happened after the coin formed a rising wedge pattern ( A rising wedge is usually a bearish sign ) The coin has also moved below the 25-day and 50-day moving averages. The two have made a bearish crossover, signaling that the downward trend will continue. Therefore, the next key support level to watch will be at $0.62 ( the lowest level on February 24 this year ).
BINANCE:XRPUSD
by thomasfullerofficial
PXJ - bull or bear?Beauty is in the eye of the beholder they say... so it is with PXJ at the moment. I see an ascending wedge but also an ascending triangle. One is bearish while the other is bullish. Both are decently high-probability setups. Ok, so they're not drawn textbook style but there're reasons why I've ignored certain bars. So someone else could probably see something different too. I think playing the bullish card is the better option since the uptrend is still robust. Even if the ascending wedge pattern holds, I'm willing to bet that the breakdown will not reach the downside target implied by the wedge.
AMEX:PXJLong
by pete9564
BTCUSD Rising Wedge Pattern Formation 1hr Timeframe.BTC Appears to have fully formed a rising wedge on the current downtrend in the 1hr timeframe, and from knowledge of chart patterns ad price action, it is obvious that a rising wedge on a downtrend is a trend continuation pattern. This downtrend would be met with a previous zone of support at the 42,400 regions. This could lead to a bounce to the top side, following a trend to the topside before meeting resistance at a previous support level at 44,391. If this resistance fails to hold, we could witness higher highs.
BITSTAMP:BTCUSDShort
by Blaqkarho
GBPJPY - Looking for shorts Explanation: I'm expecting GBPJPY to sweep the highs grabbing liquidity to then see a further downside! Ain't looking for any sells right now until I see a BOS, Once this has happened I can then confirm sellers have stepped into the market and it's time to follow the move down. Will be looking for sells on the retest into a new Order Block / Area of supply ! Educational Tip: Rising Wedge A rising wedge is when price is squeezing upwards into a potential reversal area. As you can see the impulsive are getting smaller and so are the correction. Price is distributing order ready for the next move in the market !
Short
by Ryansanalysis
2