{"id":12513,"date":"2022-09-21T09:37:19","date_gmt":"2022-09-21T09:37:19","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12513"},"modified":"2023-05-15T09:39:29","modified_gmt":"2023-05-15T09:39:29","slug":"xcnusdt-falling-wedge-about-to-break-how-to-trade-it","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/09\/21\/xcnusdt-falling-wedge-about-to-break-how-to-trade-it\/","title":{"rendered":"XCNUSDT Falling Wedge about to break. How to trade it."},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>*** ***<br \/>\nFor this particular analysis on Chain we are using the XCNUSDT symbol on the KuCoin exchange.<br \/>\n*** ***<\/strong><\/p>\n<p>The idea is on the 1D time-frame where XCN has been trading within a Falling Wedge pattern since the August 04 Low. As you see the pattern has reached a level where it is too narrow at eventually will break out. In the event of an upwards break-out, the target should be the 1D MA50 (blue trend-line) and the 0.382 Fibonacci retracement level. Above the 1D MA100 (green trend-line) and the 0.5 Fib, we can consider a buy extension.<\/p>\n<p>In the event of a break-out downwards, the target could be the -0.236 Fibonacci extension level. Note that the 1D RSI has been on Higher Lows since September 08 while the candle action was on Lower Lows, showcasing a bullish divergence. That can potentially mean that we have to give the upside a slight edge. The ideal confirmation may be once the 1D MACD forms a Bullish Cross.<\/p>\n<p>Tradingview link:<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/chart\/XCNUSDT\/w6eGm9kW-XCNUSDT-Falling-Wedge-about-to-break-How-to-trade-it\" target=\"_blank\" rel=\"noopener\">https:\/\/www.tradingview.com\/chart\/XCNUSDT\/w6eGm9kW-XCNUSDT-Falling-Wedge-about-to-break-How-to-trade-it<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; *** *** For this particular analysis on Chain we are using the XCNUSDT symbol on the KuCoin exchange. *** *** The idea is on the 1D time-frame where XCN has been trading within a Falling Wedge pattern since the August 04 Low. As you see the pattern has reached a level where it is<\/p>\n","protected":false},"author":611,"featured_media":12514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1636],"tags":[],"class_list":["post-12513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12513"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12513\/revisions"}],"predecessor-version":[{"id":12516,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12513\/revisions\/12516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12514"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}