Open:
High:
Low:
Close:
RISING WEDGE
Bitcoin
BTC/USD
1H
It looks like a rising wedge takes place.
In case if price breaks through the support, the resulting move could identify price reversal after a pause.
Btcusd challenges a move towards 84400 as downtrend may continue.
ASCENDING CHANNEL
Ethereum
ETH/USD
1H
An ascending channel is close to being done and the price is close to breaking out now.
An ascending channel typically signals a countertrend succeeding the current trend once price collapses through the support line.
Ethusd could attempt a move towards the 2680 zone.
DESCENDING CHANNEL
Ethereum
ETH/USD
1H
Ethusd develops a descending channel, the price is ready to break out now.
If price breaks out, the move could identify that the price to go long.
Ethusd to have better chances of advancing towards 2695 as risk reversal sheds bearish bias.
FALLING WEDGE
Ethereum
ETH/USD
4H
A falling wedge has been encountered, the price demands a bullish action to confirm a breakout.
If price breaks out to the the upside, the move could signal a bullish price action.
Ethusd opens door for a move to the 2750 level.
ASCENDING TRIANGLE
Ethereum
ETH/USD
1H
There is an ascending triangle noticed, ethusd demands a move for clear breakout confirmation.
An ascending triangle denotes a compelling bearish price action formation that often results in a sharp decline in case if price breaks out to the the downside.
Ethusd to drop towards the 2660 level on a breakdown of the ascending triangle as door open for a test of 2660.
PENNANT
Bitcoin
BTC/USD
1H
It seems like a pennant happens, the price requests a further active move as an information of a breakout.
A pennant suggests a bullish pattern that can be used to spot a sharp rise once price breaks out.
A further move to the 84500 level is a possibility.
DESCENDING TRIANGLE
Ethereum
ETH/USD
1H
A descending triangle takes place and the price is about to break out now.
A descending triangle can be thought of as a technical price action formation that can be used to identify a next move up in case if price breaks through the resistance.
Ethusd could attempt a move towards the 2700 level as uptrend may continue.
ASCENDING CHANNEL
Ethereum
ETH/USD
1H
There is an ascending channel occuring, ethusd demands more steady pullback as a clue of a breakdown.
An ascending channel identifies an upward trend is nearing its end when price breaks out.
A move towards the 2660 level looks possible once below 2685.
FALLING WEDGE
Bitcoin
BTC/USD
1H
There is a falling wedge appearing, the price requires a bit more consolidation as a sign of a breakout.
A falling wedge depicts a chart pattern that has a downward slope that can be used to predict a countertrend succeeding the current trend when price breaks out to the the upside.
It is not ruled out that a rangebound to 84500 will be made on impulse above 84000 as downside pressure alleviates.
Disclaimer.
No Investment Advice Provided.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
Patterns.cc will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Risk Disclosure.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.