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wedgepattern Ideas

Ethereum Surpasses Solana: The Future of Crypto Trading

I've been monitoring various crypto charts, and it seems that the narrative surrounding SOL may be reaching its conclusion. My analysis suggests that ETHUSD and ETH-related coins are poised to surpass SOL and its related assets. While SOL and its associated assets may experience a temporary surge to retain investors, I anticipate that they will enter into longer-term downtrends. Looking ahead, the strategic move appears to be towards ETH-related assets. Despite many investors losing interest in ETH-related names like AAVE, APE, BAL, CHZ, CRV, KNC, SHIB, and others due to stagnant prices since last October, I believe a shift is imminent....

By NovaX
Updated 6 days ago
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Unlocking the Potential: XRP’s Short-Term Boost with the Falling Wedge

Unveiling the Falling Wedge: A Short-Term Boon on the 4-Hour Chart Understanding the Falling Wedge The falling wedge, as the name suggests, is a bullish reversal pattern. It's formed by two converging trendlines, with price action creating lower highs and lower lows, but at a decreasing rate. Imagine a wedge shape being squeezed from top to bottom, with the narrowing gap hinting at a potential price reversal to the upside. This pattern signifies a period of consolidation where bears (sellers) are gradually losing momentum. While the price continues to fall, the decreasing distance between the trendlines indicates diminishing selling pressure. Bulls (buyers) start...

By NovaX
Updated 2 weeks ago
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Bitcoin Price Analysis: Long BTC/USD Positioning for Potential Upside Surge

Idea based on classical chart patterns observed on the daily chart. The market is near all-time highs with a breakout from a 4-week falling wedge on the weekly chart, suggesting lingering buying interest. On the daily chart, a 6-week descending triangle appears to have formed, but the breakout bar shows a long wick with an upward closing bar, indicating a potential fakeout. Support levels align with the completion point of the 4-week falling wedge, with the current market contained within a 20-week rectangle pattern near its midpoint. In case of a failure of the 6-week descending triangle, the initial target...

By NovaX
Updated 2 weeks ago
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Reviving Ethereum: A Dive Back into the Ether

Ethereum Uptrend Analysis Ethereum lost an uptrend it has been in for >6.5 years back in July of this last year. That uptrend also forms the bottom of a rising wedge that has taken shape when drawing a trend from peak to peak over the years. Upon losing its uptrend, it briefly saw a pullback during Feb - March of this year, but then lost it again and has since bounced down from a re-test it did in May. ETHBTC Pair Analysis ETHBTC pair also lost a 7.2 year uptrend back in March and has also since failed to get back...

By NovaX
Updated 3 weeks ago
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Taking DOGE to Mars: Elon Musk’s Cryptocurrency Journey

DOGE received a significant boost during the last FOMO episode. As the Crypto Markets gear up for the next upswing, I believe DOGE has the potential to surge once more. This canine-themed token made it to the Moon, and now with Elon Musk's support, it might just reach Mars. Personally, I am looking to acquire some Dogecoin within the $0.03-$0.01 range. In terms of technical analysis for DOGEUSD (DOGEUSDT, DOGEBUSD), indicators suggest the following: Elliott Wave Impulse: Cycle A (white), Elliott Wave Correction: Primary A-B-C (red), Ending Diagonal: Primary C (red), Bullish Divergence, Demand Zone, 88.6% Fibonacci Retracement, 61.8% Fibonacci...

By NovaX
Updated 3 weeks ago
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Unleashing Ripple XRP: The Banks’ Ultimate Nightmare in Beast Mode

Ripple (XRP) is poised to challenge the banking system, despite numerous attempts to undermine its success. This resilient cryptocurrency is just beginning to showcase its potential in the emerging Crypto Age. While its integration into systems may take time, the Crypto Revolution appears inevitable in my opinion. Now, let's delve deeper into Ripple. XRP (XRPUSD, XRPUSDT, XRPBUSD) Technical Analysis: - Elliott Wave A-B-C Pattern: Cycle a-b-c (red) - Ending Diagonal in Cycle C (red) - 88.6 Fibonacci Retracement - Bullish Divergence - Demand Zone - Double Bottom This analysis sets the stage for a trading opportunity, with a key support level identified at $0.175. Best of luck to all...

By NovaX
Updated 3 weeks ago
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