wuliwong

A wedge structure, consolidating price action forming on the BTC daily chart. I would generally consider this to be a bullish continuation pattern. There is the chance that it could break down of course. Volume is decreasing in the pattern which is further support of the idea. In general, these are sized up by the price difference between the opening end (left side) of the beginning of the wedge. It isn't possible to make an exact prediction until the breakout but roughly we should expect a $9,000+ breakout (up or down) once the wedge pattern is broken. Often there can be a retest of the wedge but it is a small wedge and BTC is overall really bullish right now, so I would expect it to just run again after the breakout.

We are seeing a symmetrical triangle formed on the BTC daily chart. We also are viewing a general decrease in trading volume as the triangle developed. This leads to a higher probability that we will see a breakout to the upside and a continuation of the previous bullish price action.

YFI has been making higher lows and has enormous upside potential. There was also a very large harmonic on the weekly. Could be very good if BTC keeps heading up.

A little late for entry but 1Inch looking very bullish The big analysis is the momentum shift you see after a low, lower low, and then a higher low. 1Inch was also showing a descending parallel channel which has broken out of. The price has run up a bit since the last higher low but the upside potential when looking at the all time highs might still make it worth the risk. I would put my stop loss at the most recent higher low. 1Inch has been totally destroyed since it's ATH and is at rock bottom levels. There are many alt coins show similar structures and history, so this might not be your best move right now. I just can't ignore the massive upside. Golden zone retracements would land you in multiple 100% returns.

Regular Bearish Divergence forming on BTC Daily Chart We see regular bearish divergence forming on the BTC daily chart. If things hold as they are, this will be a sell signal for BTC after a nice run up.

Potential Head and Shoulders forming on BTC weekly We still have 4 days to end the week but after the first few days down, BTC is looking to form a head and shoulders pattern on the weekly chart. This is a reversal pattern from bullish to bearish. I believe you ideally would like the shoulders to be closer in height but I think this will still be a valid head and shoulders pattern as long as the weekly candle does not exceed around $28,588.

Descending triangle for BTC daily It looks like a descending triangle has formed for BTC on the daily chart. This is a bearish formation in a downtrend which more likely than not, predicts a continuation of the downtrend in BTC. Interestingly, as I publish this idea we are seeing an attempted breakout to the upside of the triangle but this has yet to be confirmed. This pattern technically has a slight rise in the base of the triangle, so it could also be interpreted as a slightly rising wedge. The rising wedge pattern in this situation could also be interpreted as predicting a similarly bearish outcome. Remember that these patterns only help us to predict the probabilities of the next move. In this case the pattern is predicting a continuation of the downtrend as a higher probability than a reversal upwards. BUT BOTH OUTCOMES ARE POSSIBLE.

There is a clear bearish pennant formation on the BTC daily along with decreasing volume. Expect lower prices relatively soon.

We see a bearish pennant has formed on the BTC daily with decreasing volume. The measured move for this is using the last impulse down from the breakout from the pennant. This lands us at $17,367. Several of these bear flags and pennants in a row BTC. Hopefully for us crypto lovers this bear market turns around soon but I think we are in for at least one more decline. We still have the bullish shark pattern which needs to hit around 10k to complete. Not a lot of reasons to be bullish on BTC, yet.

5 consecutive higher highs as BTC has broken out of a slightly ascending wedge pattern. There is hidden bullish divergence (MACD and RSI) now developing between the last two lows. This is all looking pretty bullish for BTC in the near term.