BITCOIN | Inverted Head & Shoulders EVERYWHERE!
Updated
Hello, dear followers and TradingView users!
I have been asked a lot - do You see an inverted H&S pattern here, do You see an inverted H&S pattern there! So, I decided to give a nice and little bit shiny chart to them who are in bullish bias!
On the image above we have two inverted Head & Shoulders (HS) patterns, one is smaller and one is bigger!
The bigger inverted HS started to form since 05.05.2018 and if this wants to be PERFECT and symmetrical then it has to end at 23.08.2018 (the end price around 10k)
Right shoulders would be then around $7000-$7100
The smaller inverted HS.
Yes, it is smaller but plays a very important role to complete perfectly this bigger HS!
We have to come down almost right away to form the perfect right shoulder which guides us to the $7700! Right shoulder bounce criteria (from $6000-$6150) is a support level from 13.06.2018, a perfect Fibonacci retracement level 62% and the psychological number $6000 (round number)
Hopefully, this helps You out!
This chart is not my style but those inverted HS are just so perfect AT THE MOMENT!
Don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
I have been asked a lot - do You see an inverted H&S pattern here, do You see an inverted H&S pattern there! So, I decided to give a nice and little bit shiny chart to them who are in bullish bias!
On the image above we have two inverted Head & Shoulders (HS) patterns, one is smaller and one is bigger!
The bigger inverted HS started to form since 05.05.2018 and if this wants to be PERFECT and symmetrical then it has to end at 23.08.2018 (the end price around 10k)
Right shoulders would be then around $7000-$7100
The smaller inverted HS.
Yes, it is smaller but plays a very important role to complete perfectly this bigger HS!
We have to come down almost right away to form the perfect right shoulder which guides us to the $7700! Right shoulder bounce criteria (from $6000-$6150) is a support level from 13.06.2018, a perfect Fibonacci retracement level 62% and the psychological number $6000 (round number)
Hopefully, this helps You out!
This chart is not my style but those inverted HS are just so perfect AT THE MOMENT!
Don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
Note
The road to the 10k is also supported with the Elliott Wave theory with a quite long 5th wave. Little bit fun and drawings into this nasty world! :PNote
Do not hesitate and hit the LIKE button, let's take those planes to the TOP! ;)We had an hour ago one attempt to break through the "Rising Wedge" bottom trendline but it failed! The price quickly jumped back up and found resistance from many times mentioned magic number $6666. Now, be alerted because bears starting to line up and maybe the next run will succeed!
Note
Looking at the closer and we see that the price draws us to an ascending triangle!The third attempt failed to break through the black trendline! Looks like one close above the $6666 guides us to the higher levels, let's see! Things change very quickly on the chart! Trying to update as often I notice something remarkable so, stay there! ;)
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Alert - we are below the black trendline!! If we close there then it would be a bearish sign!!Note
REMINDER - For my new followers, my post from morning:“Yesterday we got exact bounces from Rising Wedge trendlines! So, that means this is a pretty significant pattern and if we see some breakout confirmation we heading down to the lower levels! At the moment we have a possible lower high (LH) on the chart and I made one red confirmation box on the image below - bearish confirmation box consists of (need at least 1h candle close in this area):
1. We have a bearish Shooting Star on the daily timeframe, which supports our bearish biases
2. We have a breakout downwards from "Rising Wedge" chart pattern
3. We have a breakout below the round number area which is $6500
4. We make a lower low”
Note
Again, today we collected a couple bearish signs and the price droped - that’s the power of price action! We got our red box confirmations and those levels are all taken down! So, from that point of view we are heading down, if the daily candle closes also below the psychological number/round number $6500 then it would be almost full confirmation (almost, because the market hinks some times differently :D)It was a great day with You and see You tomorrow!
All the best!
Note
Good morning!Yesterday we had a breakout from continuation pattern "Rising Wege" which is a pretty significant bearish sign. The bulls reacted quickly when the price touches again our marked support around $6420 and they pushed it above the round number $6500! So, yesterday we didn't break this level, daily candle close above $6500!
At the moment, we are going to another run, another try to break this! We have a bear flag on the 15 min. chart! We breakout from the bear flag and retested it correctly - retest had supported with 50EMA! So, if we get a 15 min candle close even a little bit below the $6493 it would be a nice bearish sign because we make another LL on the chart!
So, let's see how the price react today, looks like we have a nice day ahead of us because some patterns are forming!
To be continued!
Note
I have a little update for You!At the moment we have tried to break through from $6500 but those attempts are failed! Bounce up, bounce down etc. and we got a small inverted Head & Shoulders pattern!
If we break this pretty strong resistance area, crossing area - a strong price level $6546 and the red trendline then it is a bullish sign but to break this area we need a pretty strong power from buyers!
Also, You can see on the chart the red area, bearish confirmation area and this is below the $6419 support and below the red trendline (Triangle breakout)
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BOOOOMM!!!"We need a pretty strong power from buyers!" There they are! :D
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NEW UPDATE!Note
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UPDATE - If You hit the play button then You will see that we are heading down to the right shoulders bottom at $6100. This super-strong resistance level at $6780 plays a very important role in our H&S pattern and today was 14th attempt to break this but 'luckily' failed and our H&S is still valid!Note
Soon will be the moment of truth because we have almost into the right shoulder bottom! If we bounce up from here then it would be a good sign for the bulls but if we break below from here then we go and take out this "Clean area". Look here to know what I mean by "Clean area": 
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Hello my dear followers! There is no updates at the moment because I'm on my vacation!
I'll be back at 23.07 and aftret that full throttle to the TOP!!!
All the best!
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Hello! Just hit the play button and we are completed the first head & shoulders pattern! ;)Note
All most symmetrical head and shoulders and a strong resistance area above us!Finally back from my vacation and tomorrow I make a new chart and let's break down this BTC chart! Tomorrow You can find out where and why we have a strong resistance above us and where we could heading!!
All the best!
TO THE TOP!!
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