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$ETC
#EthereumClassic Chart Analysis
Ethereum Classic recently rose to $39 and is now undergoing a correction.
From a chart perspective, the $24.5 level is highly significant.
This is because I believe $24.5 marks the starting point of a new wave.
If Ethereum Classic does not drop below $24.5, I anticipate a potential 3-3 wave #upward movement.
In the short term, a #risingwedge pattern is forming.
I am unsure whether this indicates an impulse wave or if there will be one more wave down after a fourth wave correction, but it seems the correction might be nearing its end.
As long as the price does not fall below $24.5, I expect a significant #upward movement.
For continued chart analysis, please follow.
#EthereumClassic Chart Analysis
Ethereum Classic recently rose to $39 and is now undergoing a correction.
From a chart perspective, the $24.5 level is highly significant.
This is because I believe $24.5 marks the starting point of a new wave.
If Ethereum Classic does not drop below $24.5, I anticipate a potential 3-3 wave #upward movement.
In the short term, a #risingwedge pattern is forming.
I am unsure whether this indicates an impulse wave or if there will be one more wave down after a fourth wave correction, but it seems the correction might be nearing its end.
As long as the price does not fall below $24.5, I expect a significant #upward movement.
For continued chart analysis, please follow.
Is Bitcoin Headed for a Major Correction ? Final Move Before Potential Crash to $3,000
#Elliottwave #Bitcoin❗ #risingwedge #Write2Earn!
#BinanceSquareFamily
Recent analysis suggests that Bitcoin may be forming an **ending diagonal**, a technical pattern often signaling the end of a bullish cycle. This is part of **Elliott Wave Theory**, specifically a **3-3-3-3-3 structure**, also known as a rising wedge. Such a formation could indicate the **final impulsive wave** before a significant correction, potentially marking the end of Bitcoin's current growth cycle.
According to this view, Bitcoin could correct down to the **$3,000** level. This target aligns with the **lower-degree fourth wave** in Elliott Wave Theory and the **volume profile's power line**. However, the scenario hinges on certain key levels:
- If Bitcoin fails to reach new highs and drops below **$66,500**, it may first retrace to the **$59-60K** range.
- After that, a final three-wave push could bring Bitcoin near **$80K** before a reversal.
- Upon reversal, the strategy would shift towards **short positions**, aiming for much lower levels, even below **$10,000** per Bitcoin.
Conclusion & Advice :
If this scenario plays out, it could mark a drastic correction for Bitcoin, undoing much of its historical growth. Investors should keep an eye on the **$66,500** mark as a key indicator. Should Bitcoin drop below this level, it might signal the beginning of the downward trend. While long-term holders may prefer patience, traders may want to explore shorting opportunities after confirming the reversal signals, but only with strong risk management. **Be cautious**, as market volatility could increase dramatically.
#Elliottwave #Bitcoin❗ #risingwedge #Write2Earn!
#BinanceSquareFamily
Recent analysis suggests that Bitcoin may be forming an **ending diagonal**, a technical pattern often signaling the end of a bullish cycle. This is part of **Elliott Wave Theory**, specifically a **3-3-3-3-3 structure**, also known as a rising wedge. Such a formation could indicate the **final impulsive wave** before a significant correction, potentially marking the end of Bitcoin's current growth cycle.
According to this view, Bitcoin could correct down to the **$3,000** level. This target aligns with the **lower-degree fourth wave** in Elliott Wave Theory and the **volume profile's power line**. However, the scenario hinges on certain key levels:
- If Bitcoin fails to reach new highs and drops below **$66,500**, it may first retrace to the **$59-60K** range.
- After that, a final three-wave push could bring Bitcoin near **$80K** before a reversal.
- Upon reversal, the strategy would shift towards **short positions**, aiming for much lower levels, even below **$10,000** per Bitcoin.
Conclusion & Advice :
If this scenario plays out, it could mark a drastic correction for Bitcoin, undoing much of its historical growth. Investors should keep an eye on the **$66,500** mark as a key indicator. Should Bitcoin drop below this level, it might signal the beginning of the downward trend. While long-term holders may prefer patience, traders may want to explore shorting opportunities after confirming the reversal signals, but only with strong risk management. **Be cautious**, as market volatility could increase dramatically.
~Like I said I'm gonna post an educational post every Sunday night.
So here a good technique to analyze the charts.
Hope it helps 🫡
Follow So you don't miss my next educational post on trading💪🏻🔥
#MicroStrategyJoinsNasdaq100 #risingwedge #btc
So here a good technique to analyze the charts.
Hope it helps 🫡
Follow So you don't miss my next educational post on trading💪🏻🔥
#MicroStrategyJoinsNasdaq100 #risingwedge #btc
$BTC
#Bitcoin Chart Analysis for #Today
Fortunately, yesterday's analysis was spot on. After reaching the top of the #risingwedge , the price immediately dropped.
For today, I have prepared two scenarios, and I am considering a short position in both cases.
The first scenario suggests that the five-wave structure has not yet completed. I expect the price to make another lower low before an ABC correction rebound occurs.
The second scenario assumes that the five-wave structure is already complete, and the price will rebound slightly before continuing to fall.
The current position is critical. Whether we will see a significant drop or just a short correction followed by a major rally should become clearer today or tomorrow.
If you'd like to keep following the chart analysis, please hit the follow button!
#Bitcoin Chart Analysis for #Today
Fortunately, yesterday's analysis was spot on. After reaching the top of the #risingwedge , the price immediately dropped.
For today, I have prepared two scenarios, and I am considering a short position in both cases.
The first scenario suggests that the five-wave structure has not yet completed. I expect the price to make another lower low before an ABC correction rebound occurs.
The second scenario assumes that the five-wave structure is already complete, and the price will rebound slightly before continuing to fall.
The current position is critical. Whether we will see a significant drop or just a short correction followed by a major rally should become clearer today or tomorrow.
If you'd like to keep following the chart analysis, please hit the follow button!
Bitcoin's Resurgence :
Navigating the Rising Wedge Pattern
#Bitcoin❗ #risingwedge #Write2Earn! #BinanceSquareFamily #CryptoMarketMoves
Bitcoin is forming a **rising wedge pattern** on the **4-hour** and **daily charts**, indicating potential volatility. The analysis suggests a pullback to around **$62,800.00** before a resurgence to new all-time highs.
Key Insights :
- Target Price :
Anticipated drop to **$62,800.00** presents a long position opportunity.
- Risk Management :
A tight stop loss is essential to mitigate potential losses.
Market Context :
- **Uncertainty** surrounding upcoming elections is affecting the stock market and, consequently, cryptocurrencies.
Conclusion :
While the rising wedge indicates a potential short-term drop, the long-term outlook for Bitcoin remains promising.
Advice :
- Plan Entry :
Consider entering a long position at **$62,800.00** with a stop loss.
- Stay Informed :
Monitor market developments, particularly related to elections, as they impact prices.
By strategically positioning themselves, traders can navigate current dynamics and capitalize on Bitcoin's potential gains.
Navigating the Rising Wedge Pattern
#Bitcoin❗ #risingwedge #Write2Earn! #BinanceSquareFamily #CryptoMarketMoves
Bitcoin is forming a **rising wedge pattern** on the **4-hour** and **daily charts**, indicating potential volatility. The analysis suggests a pullback to around **$62,800.00** before a resurgence to new all-time highs.
Key Insights :
- Target Price :
Anticipated drop to **$62,800.00** presents a long position opportunity.
- Risk Management :
A tight stop loss is essential to mitigate potential losses.
Market Context :
- **Uncertainty** surrounding upcoming elections is affecting the stock market and, consequently, cryptocurrencies.
Conclusion :
While the rising wedge indicates a potential short-term drop, the long-term outlook for Bitcoin remains promising.
Advice :
- Plan Entry :
Consider entering a long position at **$62,800.00** with a stop loss.
- Stay Informed :
Monitor market developments, particularly related to elections, as they impact prices.
By strategically positioning themselves, traders can navigate current dynamics and capitalize on Bitcoin's potential gains.
NEIRO's Rising Wedge : Caution Ahead for Investors
#NEİRO #BullishMay #risingwedge #Write2Earn! #BinanceSquareFamily
The NEIRO token is currently forming a **rising wedge pattern**, a structural indication that its long-term bullish trend may have run its course. A rising wedge often signals a potential pullback, especially after reaching a significant high, and traders should be cautious as the market could be poised for a decline.
Despite recent bullish momentum, chasing the price upward at this stage could be risky due to increasing selling pressure. Traders are advised to monitor the **neckline** as the next potential support level, should the price start to retrace.
Conclusion :
With NEIRO showing signs of a rising wedge, a pullback could be imminent. Investors should be prepared for potential downward movement after the strong bullish trend.
Advice :
Avoid chasing the rise, and focus on the neckline support. It's essential to manage risk by setting clear stop-loss points and remaining cautious in the face of selling pressure, as this pattern suggests a possible reversal.
#NEİRO #BullishMay #risingwedge #Write2Earn! #BinanceSquareFamily
The NEIRO token is currently forming a **rising wedge pattern**, a structural indication that its long-term bullish trend may have run its course. A rising wedge often signals a potential pullback, especially after reaching a significant high, and traders should be cautious as the market could be poised for a decline.
Despite recent bullish momentum, chasing the price upward at this stage could be risky due to increasing selling pressure. Traders are advised to monitor the **neckline** as the next potential support level, should the price start to retrace.
Conclusion :
With NEIRO showing signs of a rising wedge, a pullback could be imminent. Investors should be prepared for potential downward movement after the strong bullish trend.
Advice :
Avoid chasing the rise, and focus on the neckline support. It's essential to manage risk by setting clear stop-loss points and remaining cautious in the face of selling pressure, as this pattern suggests a possible reversal.
BNBUSDT Sell Analysis : Rising Wedge Pattern Signals Potential Downturn
#risingwedge #BNBUSDT #bnbusdtshort #BearishPhase #Write2Earn!
The latest analysis of **BNBUSDT** highlights a bearish opportunity due to the formation of a rising wedge pattern. Here are the key insights:
1. Rising Wedge Formation :
The price of BNBUSDT has established a rising wedge, which often indicates a potential reversal or price decline.
2. Critical Breakdown Level :
A significant breakdown is anticipated if the price falls below the support line at **561.1**.
3. Sell Strategy :
Traders should consider entering short positions upon a confirmed breakdown at **561.1**.
4. Profit Targets :
The suggested profit targets for this trade are set at **489.4** and **399.1**, providing ample opportunity for profit.
5. Market Sentiment :
The current market sentiment leans bearish, as indicated by the price structure and the potential for downward movement.
Conclusion & Advice :
The formation of a rising wedge pattern in BNBUSDT suggests an impending price decline, especially if the support line at **561.1** is breached. With profit targets of **489.4** and **399.1**, this trade offers a favorable risk-reward scenario.
Advice :
It is crucial to implement effective money management strategies to protect your capital. Set appropriate stop-loss orders to limit losses if the trade moves against you, and monitor the price action closely for any signs of reversal.
#risingwedge #BNBUSDT #bnbusdtshort #BearishPhase #Write2Earn!
The latest analysis of **BNBUSDT** highlights a bearish opportunity due to the formation of a rising wedge pattern. Here are the key insights:
1. Rising Wedge Formation :
The price of BNBUSDT has established a rising wedge, which often indicates a potential reversal or price decline.
2. Critical Breakdown Level :
A significant breakdown is anticipated if the price falls below the support line at **561.1**.
3. Sell Strategy :
Traders should consider entering short positions upon a confirmed breakdown at **561.1**.
4. Profit Targets :
The suggested profit targets for this trade are set at **489.4** and **399.1**, providing ample opportunity for profit.
5. Market Sentiment :
The current market sentiment leans bearish, as indicated by the price structure and the potential for downward movement.
Conclusion & Advice :
The formation of a rising wedge pattern in BNBUSDT suggests an impending price decline, especially if the support line at **561.1** is breached. With profit targets of **489.4** and **399.1**, this trade offers a favorable risk-reward scenario.
Advice :
It is crucial to implement effective money management strategies to protect your capital. Set appropriate stop-loss orders to limit losses if the trade moves against you, and monitor the price action closely for any signs of reversal.
GOATSEUS MAXIMUS No.1 Meme Coin – Navigating the Rising Wedge Breakdown
#goatseusmaximus #risingwedge #Write2Earn! #BinanceSquareFamily
#Goatseus
In the analysis of GOATSEUS MAXIMUS, a **rising wedge pattern** has been identified, which typically signals a bearish reversal. This suggests that the coin could experience a **short-term decline** once the wedge breaks downward.
Key Support and Resistance Levels :
- Support : $0.18047 (critical zone for rebound or consolidation)
- Resistance :
-Short-term : $0.58642 (ideal for profit-taking if price rises)
-Long-term : $0.99652 (potential for a new All-Time High after the short-term drop)
Volume and Momentum Indicators :
- Volume :
At 909.922K, indicating strong market interest. A breakout will need significant volume increase for confirmation.
- Divergence :
VMC B Divergences indicate a weakening momentum, hinting at a short-term drop.
- RSI (56.43) :
Neutral, not signaling overbought or oversold conditions.
- Stochastic RSI (94.16) :
Overbought, suggesting a pullback soon.
- Hull Moving Average Histogram (-0.00315) :
Slight bearish momentum, supporting the short-term decline forecast.
Trading Plan :
1. Scenario 1 : Short-Term Decline and Rebound
- Entry : Short position if price breaks below $0.50-$0.52, aiming for support at $0.18047.
- Stop-Loss : Set above $0.58642 to protect against sudden breakouts.
- Target : Profit at $0.18047 with RSI falling below 50 for confirmation.
2. Scenario 2 : Upward Breakout After Decline
- Entry : Long position after decline, if support holds at $0.18047, forming a bullish reversal.
- Stop-Loss : Set below $0.18047 for protection.
- Target : First at $0.58642, then $0.99652 for a potential new ATH.
Conclusion and Advice :
GOATSEUS MAXIMUS is currently in a rising wedge, indicating a likely **short-term decline**. However, after this pullback, the coin has the potential for a strong **bullish reversal**, with the possibility of reaching a new all-time high of **$0.99652**. Traders should be cautious and follow the technical indicators closely, using proper **risk management** to navigate the market volatility.
Trade carefully, manage risk, and monitor key levels for potential profit opportunities!
#Goatseus
In the analysis of GOATSEUS MAXIMUS, a **rising wedge pattern** has been identified, which typically signals a bearish reversal. This suggests that the coin could experience a **short-term decline** once the wedge breaks downward.
Key Support and Resistance Levels :
- Support : $0.18047 (critical zone for rebound or consolidation)
- Resistance :
-Short-term : $0.58642 (ideal for profit-taking if price rises)
-Long-term : $0.99652 (potential for a new All-Time High after the short-term drop)
Volume and Momentum Indicators :
- Volume :
At 909.922K, indicating strong market interest. A breakout will need significant volume increase for confirmation.
- Divergence :
VMC B Divergences indicate a weakening momentum, hinting at a short-term drop.
- RSI (56.43) :
Neutral, not signaling overbought or oversold conditions.
- Stochastic RSI (94.16) :
Overbought, suggesting a pullback soon.
- Hull Moving Average Histogram (-0.00315) :
Slight bearish momentum, supporting the short-term decline forecast.
Trading Plan :
1. Scenario 1 : Short-Term Decline and Rebound
- Entry : Short position if price breaks below $0.50-$0.52, aiming for support at $0.18047.
- Stop-Loss : Set above $0.58642 to protect against sudden breakouts.
- Target : Profit at $0.18047 with RSI falling below 50 for confirmation.
2. Scenario 2 : Upward Breakout After Decline
- Entry : Long position after decline, if support holds at $0.18047, forming a bullish reversal.
- Stop-Loss : Set below $0.18047 for protection.
- Target : First at $0.58642, then $0.99652 for a potential new ATH.
Conclusion and Advice :
GOATSEUS MAXIMUS is currently in a rising wedge, indicating a likely **short-term decline**. However, after this pullback, the coin has the potential for a strong **bullish reversal**, with the possibility of reaching a new all-time high of **$0.99652**. Traders should be cautious and follow the technical indicators closely, using proper **risk management** to navigate the market volatility.
Trade carefully, manage risk, and monitor key levels for potential profit opportunities!