The range high is the November, 10th ATH of 69000 (Coinbase) while the range low is 55600. Our current weekly candle (11/14 - 11/20) high is 66300 while the weekly low is 55600. RSI has fully reset from the bearish divergence caused by the rise in price and fall in RSI from October 21 to November 10th and is currently at level 45.20 moving towards 50 on the daily...
Bitcoin has completed a head and shoulders pattern with the RSI on the daily chart moving towards 50 and a bearish MACD crossing.
The price for the second shoulder has reached the neckline for the inverse head and shoulders. Waiting until the price reaches 3% of the breakout point before entering a long. Not financial advice.
Tezos' price is currently above the golden pocket which appears to be acting as support evidenced by the volume in this range. There is also bullish RSI divergence as the RSI is rising while price is bouncing off of support.
Head and shoulders gives us a price target of around 12.63 Ascending triangle gives us a price target of around 13.24 Swing high, and swing low golden pocket also gives us around 13.24 Several points of confluence around the 13.24 price for SUSHIUSD based on chart patterns. Not financial advice always do your own research before trading.
Based on the amount of times support has been confirmed at the $31,000 level and the number of lower highs along a trendline I believe that a descending triangle pattern is in play. This is supported by the previous formation of a pennant which has lasted longer than four weeks at which point it is more likely to be a triangle. Initially, I thought that we were in...
Initially I thought that we may be in an impulse wave down however I'm beginning to see how that probability is weakening. I think that we may have transitioned out of a pennant and into a symmetrical triangle. Depending on where the price breaks out it could invalidate the impulse wave. Personal thoughts and trading journal. Not financial advice.
I'm planning for shorts on either side of the breakout/breakdown. Assumptions: Impulse wave down is in play We are in wave 4 We are in a pennant If we are in an impulse wave down, and in wave 4, then we should see upside before the downtrend continues.
I'm a noob so please take my idea with a huge grain of salt. We're beginning to break out of the pennant and aiming to begin forming the high point of the right shoulder to complete a larger head and shoulders pattern. Using only trend lines based on the implied direction of the 50 day and 200 day MA you can estimate the price at 42k before that death cross...
I've been into BTC for a long time but I've never bothered trying to learn TA but after watching a few YouTubers I've taken an interest. I'm reading some basics and trying to interpret the chart based on past data in order to understand what is going on. In light of that information, you should view this as a journal from a very green... I don't know I wouldn't...