What is a Diamond Pattern? The diamond pattern is a unique formation characterized by two converging trend lines, creating a pattern that resembles a diamond or kite. Within this pattern, price movements oscillate, presenting traders with an opportunity to make informed decisions. However, to successfully navigate the diamond pattern, you need to understand its...
Pattern Name: Bullish Engulfing Pattern Type: Bullish Reversal No. of Candles: 02 How to Identify it? 1)There must be a preceding Downtrend. 2)A short Red candle followed by a long green candle. 3)The Green candle should open lower & closes higher than the Red candle. 4) The Green candle should completely engulf the Red candle. The psychology behind it : 1)The...
BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSDT This is in continuation of previous posting "Bitcoin at crucial support point". Breakout of RSI trendline is initial indicator of Bitcoin moving back in positive territory is seen at A on chart. It now require confirmation by crossing 38.2% Fibonacci level and the price trendline as marked as B & C...
Elliott wave analysis of Ethereum confirms its 3rd wave journey pattern. Wave 1 - Finished at 4384.43 on May 12, 2021 Wave 2 - Finished at 1718.41 on July 20, 2021 Wave 3 - Sub-Wave 1 - Wave 1 - Finished at 4030.35 on Sep 3, 2021 Sub Wave 1 - Wave 2 - Finished at 2651 on Sep 21, 2021 Sub Wave 1 - Wave 3 - Sub-wave 1 - Finished at...
Etheruum is on the move of price reversal. It has already made a high of $1439 and the projected between 1.13 to 1.618 Fibonacci level of XA. Now this pattern is creating a typical Harmonic Shark Pattern. Which is a bullish reversal in deep. We can expect a PRZ between $640 to $ 607. SO there might be the downfall of around $1200 estimated but this is the most...
📚 LEARN MORE 💰 EARN MORE With ForecastCity Descending Triangle Definition: An Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high . It is defined by two lines: . A horizontal support line running through valleys. . A Downtrend line drawn through the peaks. The lower highs...
Inverted Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder). A “ Neckline ” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly...
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