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W-m-pattern

VIRTUAL’s Incredible Year: Is a Top in Sight??VIRTUAL has experienced a phenomenal rise in recent months, climbing to rank 36 in the overall crypto market with an impressive $3.7 billion market cap. This meteoric growth is a testament to the strong interest and momentum behind the project. However, as we approach the end of the year, there are signs that a potential top could be forming. Let’s analyse the chart and key scenarios to watch for in the coming weeks. Key Levels and Observations: 1.) Elliott Wave Analysis: The price action suggests we are completing the 5th wave of an Elliott Wave cycle, signaling a potential exhaustion of the current uptrend. Based on the Fibonacci extension of the last corrective wave, the 1.618 level is a critical resistance at $3.8134. A breakout above $3.8134 could open the doors to test the psychological level of $4. However, failure to break this level might confirm the end of the 5th wave and initiate a correction. 2.) Head and Shoulders Formation (Potential Setup): There are early signs of a Left Shoulder formation on the chart. If the price rejects at the 1.618 Fibonacci level, we could see the development of a Head and Right Shoulder, forming a bearish reversal pattern. Confirmation of this pattern would require a clear neckline and increased selling volume, signaling a trend reversal. 3.) Time-Based Correction: A correction could align with the broader crypto market trends as we head into early 2025. Given the potential for Bitcoin to drop to the 84K support zone, this could trigger a sell-off in altcoins, including VIRTUAL. 4.) Overall Market Sentiment: While the broader market has been bullish, a Bitcoin-led correction could drag down the entire crypto market. Altcoins often experience sharper corrections during Bitcoin downturns, which could result in VIRTUAL retracing some of its gains. Volume Analysis: Monitor volume levels at key resistance points (e.g., $3.8134 and $4) for confirmation of breakout or rejection. Market Correlation: Keep an eye on Bitcoin’s price action, as any significant movement could directly impact VIRTUAL and other altcoins. Note: These are my personal thoughts and interpretations of the current market conditions. Please take them with a grain of salt. The crypto market is highly volatile and further data and confirmations are essential before drawing definitive conclusions. Happy trading!
Short
by SiDec
3
BNB/USDT - (25-12-2024) G-Money's short version analysis basedBNB/USDT G-Money's short version analysis based purely on technical analysis only, no nonsense or "BS". I do totally ignore any fundamental analysis, technical analysis only BNB/USDT still possible that is going return to the Enter level ... It is not too late to enter at the right time... What do you think? Comment and share your thoughts please! Chart is itself explaining. Kept a "KISS" approach all the way ( "Keep It Simple, Stupid") & beginners friendly... ;) I do hope that nobody ignoring SL ( Stop Loss) ! Without it, It is a fastest way to loose hard earned money... PS: above technical analysis is done for the community & educational purpose only! It is not a financial advice. Just share my very own insight to it. Merry Christmas to ALL !
Long
by G-money2022
POLYMATH has some very interesting long-term upsideThere's potential here for a long term break-out. It's looking like there's a huge upside potential if we can break free of this channel. Perhaps, we've on wave 2 of the highest degree of trend with wave 3 ready to burst through the upper trend line. The sooner it does, the more violent we will go to the upsde. Let's keep a close eye on it as the longer the projection, the more there is likely to change. In any case, huge potential upside here. Follow for more.
POLONIEX:POLYUSDLong
by cryptechcapital
A rising Wedge Formation In the 4H - Short for Short Period.So even though Bitcoin is in the middle of a huge upward move markets always gave us the opportunity to make money in the middle of every strong trending moves. For now we got a rising wedge formation with a heavy pull back based on the news from the FED and the zone which is acting as a magnet support level got more confluence points including the strong demand zone, the horizontal support line of the 2 formed triangles and the 1.27 extension fib level on the higher timeframe. All this points and some other additional insights are included in this short video and enjoy watching it. Please do consider to do your own research before making any type of investments in any type of markets and I urge you to notice that this is not a financial advice at all rather a personal view point. Nathnael B.
Short
by cryptotalk_et
Possible short-term BTCUSD HEAD AND SHOULDERS PATTERN formed.Please see attached chart. BTCUSD 1-4hr timeframe. There could well be a possible H & S pattern that takes us from the neckline of around $104k down to the $99-101k buy-in zone. This area also aligns with the 50% fib, charted from the recent swing low of $94,300 to swing ATH of $108,360 Max volume profile area also aligns at $101,000. Longs opened at $103-104k, with further entry long limits set at 99-101k, expecting 107-108k retest for subsequent take profit. Will let anything that breaks 108k run beyond with stops adjusted as necessary. Thanks.
BITSTAMP:BTCUSDLong
by liberty_trader_2024
Micron Technology - This Stock Will Double Soon!Micron Technology ( NASDAQ:MU ) is retesting massive support: Click chart above to see the detailed analysis👆🏻 After we saw a test of the resistance trendline on Micron Technology a couple of months ago, it was quite likely that we will eventually retest the previous all time high. This structure is now acting as massive support and together with the rising trendline, we will see a bullish rejection. Levels to watch: $90, $180 Keep your long term vision, Philip (BasicTrading)
NASDAQ:MULong
by basictradingtv
15
Break down of SUSHI on 1 hour candlesStructure and Price Action: **Descending Triangle Resistance**: The chart shows price facing resistance along the **descending red trendline**, which forms the upper boundary of a **triangle pattern**. Sellers are consistently stepping in at lower highs. **Ascending Support Line**: The price is maintaining support along the green upward trendline, creating an **ascending triangle** structure. This suggests a potential breakout if buying pressure sustains. **Key Consolidation Zone**: Price is consolidating between **$2.10** and **$2.40**, with clear attempts to break resistance. The consolidation indicates indecision but also a build-up for a larger move. **Retest of Order Blocks**: Multiple **bullish order blocks** at $2.10–$2.00 have held as support, reinforcing buyer strength. Support and Resistance: **Immediate Resistance**: $2.40 (descending red trendline and prior swing high). **Key Support Levels**: $2.10: Primary ascending support line. $2.00: Strong structural support aligned with bullish order blocks. $1.80–$1.60: Secondary green support zone below the ascending trendline. Indicators: Moving Averages (EMA 20/50/100/200): Price is above the **EMA 20** ($2.15) and **EMA 50** ($2.16), confirming short-term bullish bias. The **EMA 100** ($2.08) and **EMA 200** ($2.07) are closely aligned, providing a strong support base if price pulls back. Money Flow Index (MFI): MFI is at **60.21**, showing moderate bullish momentum with room for price to move higher before overbought conditions are reached. Stochastic RSI: The Stochastic RSI is currently near **overbought territory** (100.00 and 99.89), suggesting a short-term pullback may occur if resistance holds. However, sustained buying pressure could keep the Stochastic RSI elevated. Volume: Volume remains stable but has declined slightly during consolidation, suggesting indecision. A volume spike on a breakout or breakdown will confirm the next move. Pattern Analysis: The **ascending triangle** pattern suggests bullish continuation, provided price breaks above the descending red trendline at $2.40. Failure to break resistance could lead to a test of lower supports around $2.10 or $2.00. Probabilistic Outlook: Bullish Breakout (Primary Scenario): If price breaks above $2.40 with strong volume, the ascending triangle confirms bullish continuation. Key upside targets: **First Target**: $2.60–$2.65 (next major resistance zone). **Second Target**: $2.80–$3.00 (psychological and prior highs). Bearish Breakdown (Alternate Scenario): If price loses support at $2.10 and $2.00, bearish momentum could build. Key downside targets: **First Target**: $1.80 (green support zone). **Second Target**: $1.60 (historical support and bullish order block). Key Signals to Watch: A breakout above $2.40 with rising volume = **Bullish continuation**. A breakdown below $2.10 = **Bearish reversal confirmation**. Monitor volume during any breakout or breakdown for validation. Conclusion: The chart is consolidating within an **ascending triangle**, with price facing resistance at $2.40. The overall structure remains bullish, and a breakout above $2.40 could lead to further upside toward $2.60–$2.80. However, failure to break resistance may result in a pullback toward $2.10 or $2.00 before the next directional move.
COINBASE:SUSHIUSD
by EncryptShawn
GBPNZD Can Be Finishing The Wedge PatternGBPNZD pair has been trading bullish for the last 2 years or so, but since 2023 we can see that price action is slowing down and that bulls are running out of steam. It came even higher recently and it's testing the highs of the year, but we are tracking an ending diagonal a.k.a. wedge pattern, which can be in final stages of 5th wave. If we are correct, then strong and sharp reversal will show up in 2025. The ending diagonal (wedge) pattern is a special type of wave that occurs in wave 5 of an impulse or in wave C of a correction. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5. The reason why they are so interesting is because they are indicating a reversal, usually a strong one.
Short
by ew-forecast