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BITCOIN Cycle unlocked with Angle Theory! Can we reach 140-150k?Bitcoin (BTCUSD) is having a strong break-out day on the 1D time-frames and below but this is only on the short-term. Still it is a step in the right direction on the long-term after trading sideways in the last 6 months within the 1W MA50 (Support) and 1W MA100 (Resistance). ** Cycle Peaks and angles ** Today's study brings you the a multi-cycle depiction on the 1W time-frame of BTC since the peak of its very first Cycle at $32. Those that followed ($1250, $19800, $69800) all made contact with the Logarithmic top Growth Curve, a historic pattern that is holding since BTC's inception. It appears that every peak-to-peak measurement is roughly half of the previous peak. The automatic angle measurements on the (red) dotted lines may differ based on the screen's display and how the horizontal/ vertical axis move but on ours (and the screenshot of the idea) goes like this: 38°, 19°, 10°. We estimate a 6° angle for the new Cycle peak on the log Growth Curve. ** Next Cycle peak? ** If we take all previous Cycles and apply them to fit the new price action towards the top of the Log Growth Curve, that 6° line gives a projected Cycle peak within $140000 - 150000. It is also interesting to apply the same angle principle to the Cycle bottoms. We can see that those (green dotted lines) can also roughly be half of what the previous bottom was (though the variations are higher). The new bottom is estimated to be on a 7° angle. Remarkably the angles of the tops and bottoms of each Cycle have approximately the same measurements, indicating that despite being logarithmic within a curve, they can be viewed separately in Channels. So what do you think? Can Bitcoin reach $140-150k during this Cycle? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
2
BITCOIN First close above the 1D MA50 in 2 months?Bitcoin (BTCUSD) broke above the 1D MA50 (blue trend-line) again today and is very close to registering the first 1D candle closing above it since August 01. At the same time it broke above the Lower Highs of the Falling Wedge pattern that started on the July 13 High. If it succeeds today in closing above it, we hav e high probabilities of seeing the bullish extension of the Inverse Head and Shoulders pattern (IH&S) we discussed last week materializing. The target extends as high as the 2.0 Fibonacci at 30000. The short-term target is the 1D MA200 (orange trend-line) at 28000. Interestingly enough Resistance 1 (28150) and Resistance 2 (30220) are near those two respective targets adding to their importance as supply levels. Note that the 1D RSI has been on a strong Bullish Divergence since August 18 (candles on Lower Lows). That is why the IH&S has increased probabilities of breaking above the 2-month Falling Wedge pattern. So what do you think? Is it time to break to the upside for good? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
5
$CREAM Performed Bullish Symmetrical$CREAM Performed Bullish Symmetrical in 2hr TF What is a Symmetrical Triangle A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle. KEY TAKEAWAYS Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
CLong
by Crypto-Adda_Official
PEPEUSD Can rise aggressively if the Falling Wedge breaks.Pepe (PEPEUSD) is trading within a Falling Wedge ever since the first sell-off and sits below both the 1D MA50 (blue trend-line) and 1D MA100 (green trend-line) which made a double rejection on the latest Lower High on August 14 2023. The 1D MACD is already on a strong post Bullish Cross sequence so the slightest break-out, preferably above the 1D MA50, will be a buy opportunity. The first and more reachable target will be a symmetrical with the Wedge's first rise at +128%, targeting 0.0000013500. If then the 1D MA100 holds as a Support, we will re-buy and target Resistance 2 at 0.0000019000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:PEPEUSDLong
by TradingShot
1
Can Chainlink (LINK) Achieve a New Annual Peak?Chainlink (LINK) has witnessed a substantial surge in the past two weeks and is now approaching the prospect of a new yearly high. Both weekly and daily timeframe analyses exhibit bullish tendencies, which is supported by the price action MFI. How Far Can Chainlink's Uptrend Continue? Looking at the weekly technical analysis, LINK's price has been on the rise since June, recovering from a low of $4.75. This ascent resulted in the reclamation of the $5.80 horizontal support zone, which has been held since April 2022. Moreover, this upward trajectory was accompanied by a bullish divergence in the MFI. The Money Flow Index (MFI) is a momentum indicator for traders to gauge market conditions, identify overbought or oversold levels, and inform buy or sell decisions. Readings above 50 coupled with an upward trend indicate a bullish trend, while readings below 50 suggest the opposite. A bullish divergence arises when the MFI shows a lower value while the price is higher. The daily timeframe paints a bullish picture. Additionally, the MFI is holding strongly above 50. If the uptrend continues, LINK may reach the yearly high of around $8.80, which is 20% higher than the current price. However, given that the overall market is not bullish whatsoever, at this moment it is unlikely to make any significant breakthrough. Looking Ahead: Despite the current trend LINK is unlikely to rise significantly over the yearly high at $8.80. On the other side, if the price starts descending, the $5.80 support level will be the next target to the downside.
by cryptohopper
BTC ☁️ Short-Term Outlook; Rebound Likely In One Week ☀️Cloudy, slightly bearish skies ☁️ linger over Bitcoin and a great part of the global crypto market in the next 24 hours. A couple of altcoins, like Cardano, Chainlink, and Uniswap may benefit from sunnier, slightly bullish trading conditions, ATTMO's forecasts show. ☀️ Over a one-week horizon, trading conditions become mixed with sunshine returning to parts of the crypto sphere. Bitcoin, Litecoin, Cardano, and Chainlink have potential upsides, while cloudy ☁️ or even rainy, bearish trading conditions will prevail over altcoins like Avalanche, Binance, XRP, and Polkadot. Follow us for more crypto weather reports!
by ATTMO
CRVUSD Bullish break-out on the short-termCurve DAO Token (CRVUSD) broke above the 1D MA50 (blue trend-line) for the first time since July 30, with the 1D MACD breaking above the 0.00 neutral mark. The long-term pattern is a Channel Down since the February 21 High, which hit the November 22 2022 market bottom on its last Lower Low (September 13 2023). Every 1D candle closing above the 1D MA50 following a Lower Low has seen a bullish extension towards the top of the Channel Down. Last time (July 14) it broken marginally above the 1D MA100 (green trend-line) and almost touched the 1D MA200 (orange trend-line). We are bullish, targeting 0.6000 (1D MA100) unless the MACD makes a Bearish Cross first. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:CRVUSDLong
by TradingShot
2
BITCOIN Don't expect any rebound as long as the USD is rising!Bitcoin (BTCUSD) failed again to break above the 1W MA200 (orange trend-line), closing instead the 1W candle in red and is pulling back. Today's study is on the 1W time-frame and compares BTC's price action through the whole year to the U.S. Dollar's (DXY). You would expect a correlation between the two but as you can see on these charts, it has gotten increasingly tighter lately. BTC's last two medium-term declines are the direct consequence of DXY's price increases. When DXY bottomed and started to rise, BTC topped and started to decline (vice verse DXY topping, BTC bottoming). Obviously a far riskier asset like Bitcoin is trading in a more aggressive pattern like a Channel Up while the more stable by nature currency is trading/ consolidating within a Megaphone. DXY the approaching the top of that Megaphone pattern, in fact it is very close to the 105.900 High of March. Having broken above its 1W MA50 (blue trend-line) this month, while BTC is still supported on its own, we can't be realistically expecting Bitcoin to rebound as long as the DXY continues to rise, unless an outside catalyst such as very favorable (adoption) news hit the market. Until then Bitcoin should seek a Support confirmation on its 1W MA50, while DXY should start forming a top in October. But what do you think? Will Bitcoin rise irrelevant of what DXY will do, or we need to see a top on the latter first? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
13
$WTC Performing Falling wedge in 1DFalling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation. If you want to go for more pips, you can lock in some profits at the target by closing down a portion of your position, then letting the rest of your position ride.
WLong
by Crypto-Adda_Official
$CFX Performing descending broadening LSE:CFX Performing descending broadening wedge pattern Descending Broadening Wedge Pattern Explained A descending broadening wedge chart pattern is a bullish reversal pattern. This pattern is created by two declining and diverging trend lines . A descending broadening wedge forms as price moves between the upper resistance and lower support trend lines multiple times as the trading range expands during the downtrend in price. Price should touch each line 2 or 3 times to be considered a valid pattern. This pattern looks like a megaphone pointing down and to the right. A descending broadening wedge is looked at as a bullish pattern as it forms but it is not validated as a buy signal until the pattern starts to make short term higher lows and higher highs and the upper resistance trend line is broken and price begins to move to the upside and above the upper trend line. As the descending broadening wedge pattern is forming trading volumes become most meaningful as the pattern breaks out above the upper trend line, this should happen on increasing volume showing that the chart is starting to go into an accumulation cycle.
Long
by Crypto-Adda_Official
$WLD performing symmetrical triangleMIL:WLD performing symmetrical triangle Keep eye on it What Is a Symmetrical Triangle Pattern? Definition and Trading What is a Symmetrical Triangle A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle. KEY TAKEAWAYS Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation. Symmetrical Triangles Explained A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend. The pattern is also known as a wedge chart pattern. The price target for a breakout or breakdown from a symmetrical triangle is equal to the distance from the high and low of the earliest part of the pattern applied to the breakout price point. For example, a symmetrical triangle pattern might start at a low of $10 and move up to $15 before the price range narrows over time. A breakout from $12 would imply a price target of $17, or $15 – $10 = $5, then + $12 = $17. The stop-loss for the symmetrical triangle pattern is often just below the breakout point. For example, if the aforementioned security breaks out from $12 on high volume, traders will often place a stop-loss just below $12. Symmetrical triangles differ from ascending triangles and descending triangles in that the upper and lower trendlines are both sloping towards a center point. In contrast, ascending triangles have a horizontal upper trendline, predicting a potential breakout higher, and descending triangles have a horizontal lower trendline, predicting a potential breakdown lower. Symmetrical triangles are also similar to pennants and flags in some ways, but pennants have upward sloping trendlines rather than converging trendlines. As with most forms of technical analysis, symmetrical triangle patterns work best in conjunction with other technical indicators and chart patterns. Traders often look for a high volume move as confirmation of a breakout and may use other technical indicators to determine how long the breakout might last. For example, the relative strength index (RSI) may be used to determine when a security has become overbought following a breakout.
by Crypto-Adda_Official
4