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Wedgebreakout

BTC outlook for 6 April 2022. BTC trading within this wedge and has a strong support around the 45k level. Here's what I want to see next from BTC: 1) Current daily bar to close back within the wedge having made a rejection from the 44k level. If this happens then it is clear that the support level around 45k is very strong and that BTC is likely to continue bullish. 2) After closing back within the wedge I would like to see bullish continuation and a break out above the wedge. BTC has a very choppy range to fill from 45k to 50k looking to the left, but as long as my support holds I expect BTC to close it.
Long
by WickFillerDude
FTMUSDT wants to go higher?The price is testing the confluence zone on 1.4$ zone. as you can see on the upper chart, the price is testing the daily resistance after the breakout from the falling wedge on the lower chart, on 4h Timeframe, the price is creating a rising wedge after the flip of 1.3$ resistance as I said in my previous analysis How to approach? the price needs to invalidate the rising wedge (usually is an inverse pattern) and retest the upper trendline as new support. If and only IF the price is going to confirm the flip, we can apply our rules to open a new long position. The next valid resistance is 1.6$ where the market has 0.618 Fibonacci level resistance
Long
by InkyGrip
2
ZEC Continues upward in wedge about to breakoutWatch ZEC continue to rise as the Russians use ZEC to bypass sanctions. ZECs anonymous transactions make it a preferred crypto currency for the Oligarchs looking to work around the sanctions (also Pirate Chain is the other). Over the next 18 days I see ZEC going up another 20+% and then it will cross over the upper resistance and continue upward to $300. UNLESS sanctions are lifted. If the sanctions are lifted get out of the privacy cryptos at least for a little while as the Oligarchs pull their money out as they won't need to use it any longer.
by schlista
2
Ethereum 3day shows a double bottom and breakout 🐱‍🏍The 3day chart shows a strong sign of recovery and can be taken as a future outlook of the weekly. Bullish stuff: We entered the bull market support band and did not get rejected so far. The RSI shows a strong healthy rise. Trading volume is higher compared to the start of 2022. We formed a W shaped double bottom which is a strong reversal sign. Bearish stuff: We did not create higher highs yet and are in a consolidation phase during a down trend. Technically we are still not above the bull market support band consisting of the 20 week SMA and 21 week EMA . We believe that the people that hold through these hard times will get rewarded. What is needed is patience and endurance . We expect a bullish Q2 for 2022. Feel free to comment or ask anything you like. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers Ctumblery
Long
by tumbler55
AMZN just broke through a falling wedge (plus stock split)With AMZN pending 20-to-1 stock split this looks like a good bet right now. AMZN just broke through the top resistance of the falling wedge pattern. This is good short term and long term bet. Also if you like selling covered calls after the split AMZN will be a good stock for Covered Calls as it will be more affordable to buy in blocks of 100. If you buy 5 stocks today that will give you 100 after the split and you can sell a covered call. So buying in blocks of 5 is a good thing if you plan to sell covered calls.
NASDAQ:AMZN
by schlista
1
ETH Breakdown - State of the ChartI'm taking a look at ETH right now, and want to share some new thoughts since we find ourselves now on the Top of this channel formed in early Q1. If we can breakout of 3100, I think we are destined for 3700, 4000. I provided Volume by Price on the left of this chart, so you can see where ETH has been traded, the most on the way down since November. If you look in the Green Box and go to the left of the chart, you will find a large, thinly traded area in the chart. ETH should move rather quickly thru this area as there are less bag holders looking to sell to breakeven from buying on the way down. The gap from 3250 to 3700 is pretty thin. Breaking out of 3100 though will be a significant challenge though, as a clear wedge has formed and is starting to narrow and squeeze ETH on direction or another. I'll address the two sides of how I read situations like this below so you can hopefully be prepared as ETH meets a very critical point in its journey for what Q2 could look like. Resistance side of channel We've traded in a long term bearish cycle since November, and a more recent channel since early January. The most recent channel, the January channel, was formed after ETH took a nose dive and bounced hard at a Support line that came from a channel formed 18 months ago that we've been trading in since November 2020. While we needed that bounce, it wasn't enough. Since we've bounced of that support line, we've also found this newly formed channel, which we have now bounced of the ceiling of it on 4 separate occasions. (Thich Red Line on chart). Its clear that the ceiling of this channel has proven tough to break out of, and with the current uncertainty in the market, it may provide to be too tough for us to truly break free. That would have to mean though, that our support side of the channel breaks down. Support side of channel Its not all bearish on this side. Our Support line in this 3 month channel is the same support line that extends all the way back to November 2020. Its been tested, and it hasn't broke down. While we are in a 5 month bear channel, we are in an 18 month bull channel. Going full nerd, I like to think of each channel as a wave, the older the channel, the larger the wave. Some channels are intra-day, and might last 15 minutes.. pretty small wave in the grand scheme of how ETH moves. When faced up against a larger wave, the larger wave will normally win. however, that wave will now be less large, as its taken on impact from a smaller wave heading in a different direction. In the case of our current ETH situation, we have an 18 month wave that's held the test of time, but its taken some hits, and the waves in front of it have all been knocked out!!!! Summary So here we are, in a wedge, with not really any short term support to the downside of the channel, other than small waves made in the last 2 days. We rely on our large wave supporting us around 2400 as we wedge closer, with a couple decent sized waves, and an uncertain future looking to take it on. I have no fk'ing clue which will win :). But I do know, we need to watch for breaks of our support lines, and be ready to react, because we could move quickly on a breakout upwards, and quickly on a breakout to the downside. I'm honing the positive energy tonight, so no downside technical for you. ETHUSD
COINBASE:ETHUSD
by hightopdoteth
UTKUSDT is creating a falling wedgeThe price is creating a falling wedge on the daily timeframe, and the market retested the daily support on the dynamic support and static on 0.17$ On the 4h timeframe, the price is creating an ascending channel and the market is trying to have a breakout from the daily resistance on 0.26$ How to approach? If the price is going to have a breakout and retest the previous resistance as new support, 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
8
LINAUSDT is creating a falling wedgeThe price is creating a falling wedge on the monthly area on 0.02$ After the breakout, the market got a rejection from the monthly area. On 4h timeframe, the price is creating a channel below the Monthly resistance. How to approach? For a bull scenario, the price needs to get liquidity and it needs to create a clear breakout from the monthly and 4h structure above 0.24$ Otherwise, if the price is going to lose the 0.16$ and confirm the breakout, the next target is the 1.618 Fibonacci on 0.010$ 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 🦐
by InkyGrip
4
ROSEUSDT is going to create a falling wedge The price had a huge bearish impulse, bounced on the weekly support on 0.3$ and had a new breakout. The price retested the previous support as new resistance and the market went to test again the previous weekly support on 0.2$. Connecting the lows and the highs, the price is creating a falling wedge exactly on the weekly support. How to approach? We are monitoring the price, we could see a double bottom on the weekly support. IF the price is going to have a breakout from the falling wedge and 4h resistance, and turn the previous resistance into new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
LTCUSDT is creating a falling WedgeThe price bounced on the monthly support of 100$ after a false breakout from it. On the daily timeframe, the price is creating a falling wedge exactly on the monthly support. In 4h timeframe, the price is testing the resistance on 115 after a first breakout. How to approach? If the price is going to have a breakout from the 4h resistance and dynamic daily resistance and retest 120$ as new support, according to Plancton's rules we can look for a new long position. A breakout is not enough, you need a strategy ––––– 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
6
OCEANUSDT is creating a falling WedgeThe price got rejections from the descending dynamic resistance on the daily timeframe and bounced on the weekly static and dynamic support on 0.4$ On the daily timeframe the price is creating a falling wedge on the weekly support and now the price is trying to have ha breakout from the upper trendline and static resistance on 0.52$ On the 4h timeframe, the price is creating a rising wedge inside the main structure. The rising wedge is a bearish pattern, but, if the price is going to create a false breakout, we could see a breakout from the daily resistance. The setup is valid only after the daily breakout with retest and according with Plancton's rules –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
OLong
by InkyGrip
12
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