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Update: Cardano Almost there (New Resistance & Support)We almost reached our IH&S Target of 1900 Sats Today. Target was reached way earlier then i expected. Which means there is more room for growth before ADA summit on 17th-18th april. If we Break 1900 sats in few days and close above it then we may go towards 2400. If BTC helps Ada may also reach 3k Sats very soon. Positive Signal: 50 EMA Crossing 200 EMA on daily chart. Negative Signal: Weekly and daily RSI|STOCH RSI Overbought. (It may stay Overbought for long period especially when bulls are in Control.) Retracement Level: Cardano have had very good last few weeks. It may retrace a bit which will be healthy correction. I am expecting a retrace towards 1700. If this level breaks, 1530 sats should hold. If you were around in last ADA Bull Cycle then you may have noticed that ADA just pumps and stays there for few days and pumps again. Last Bull cycle was from 300 sats to 9k sats and all this happened within 40 days of time. Good luck trading Ada.
Long
by Div_Trader
GOLD - Short setup with head and shoulders inside decision zoneWelcome to this mid-term analysis of GOLD. Since October until mid February, GOLD traded within a bearish rising wedge. This pattern got a high success rate and is worth taking note of when it’s showing up on charts. Once we fell out of the wedge, it happened with strength and volatility. Fortunately GOLD stopped where it should, the top $1200s. This zone was the chop from the flag prior to the local top and naturally got a fair amount of strength to it. It’s likely we will flag around the orange zone and down to $1280 based on the fact the flag prior to the local top lasted 30days. This price action have possibly created the well-known pattern head and shoulders. We had a flag before breaking $1300 acting as the first shoulder, a rally up to $1340 as the head, then a dump down to $1280, the neckline, and we’re now flagging as the second shoulder below $1300. If you think this setup will play out, I would place a short SL above $1307 to be stopped out ABOVE a local level, and not below it. The potential risk/reward rate is very good if we close this daily candle below $1300. The orange zone marked have a history of being a point of decision and indecision. This is basically a zone well respected by chartists and traders, and is naturally a turn point for the price action. Several pumps and dumps have ended up inside this orange zone and immediately reversed. This didn’t happen this time, making me think we could have more downside coming. There’s a certain possibility of GOLD continuing up, so you shouldn’t risk all your cards on the head and shoulders playing out. In case we continue up, I’m looking to close some longs and re-add to my shorts inside the red zone. If the head and shoulders pattern plays out, I will take profit inside the green boxes, and move my SL down manually, trailing the price. My plan is to re-add to my longs around $1210. That’s it for now! Feel free to share your opinion in the comment section or ask me any question you’d like! Goodbye for now :] If you like it and would like to receive future updates - Please, follow me on TradingView! If you follow me, I guarantee you will receive timely updates to this chart, and all other interesting tickers. This will allow you to stay on top of the assets current trend and hopefully maximize your profits! For support, sign up to Binance and Bitmex with these links for referral www.bitmex.com www.binance.com If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
TVC:GOLDShort
by Pineapple1k
BTC: Possible inverted H&S in the makingBTC likes those head and shoulder patterns. Because traders like this pattern, especially the inverted head and shoulder type. However, we should remember how often this pattern has failed in the past months. So many times, there was an inverted H&S structure in the making, and many times, it failed. It looked as if it would burst through the neckline, just to fail in the last minute, and dump. We are finally approaching the interesting levels that I have been mentioning since weeks and weeks now. 1. The lower logarithmic downtrend resistance connecting the ATH and the 6500 level where the last big dump started. 2. The higher logarithmic downtrend resistance connecting the multiple smaller tops since early 2018, with the 6500 area. This is the stronger of the two. 3. At the area of the upper downtrend resistance (around 4900USD right now, in 1-2 weeks at 4700-4800USD), we also have the upper weekly BBand and the daily MA200. 4. The number of daily transactions is still far away from ATH: www.blockchain.com Therefore, if the inverted H&S fails, it will bounce off the lower resistance, the low will therefore also be lower, around 1800 USD. If the inverted H&S succeeds, we might see a nice rally to the upper resistance, as high as 4800 USD. But this resistance is ultra strong, and BTC is very overbought on weekly, volume still low, no capitulation has yet occured. Still too many weak hands in BTC, and too many people claiming 3200 has been the bottom. No despair yet! Also, the number of transactions, which I consider one of the strongest metrics for BTC, is still far away from ATH. All this leads me to believe, that in the best case, BTC reaches 4800, then dumps down to 2400 USD. I see these two scenarios unfold in the coming weeks. I see almost no chance (of course the chance is not 0%, but still quite low) for BTC going through both resistances, as sorry as I am. After that final shakeout, we should see a very strong weekly volume bar. Then the low could be confirmed and finally real reversal can start to happen. The momet of truth comes nearer and nearer :) Good luck!
BITSTAMP:BTCUSDShort
by SebastianofMoon
17
Potential 4hr chart falling wedge confluence w/ h&s drop targetThe current price action is starting to form a potential falling wedge on the 4hr chart...interestingly enough the apex of that potential falling wedge is at the exact same point as the drop target from the 4 hour chart head and shoulders pattern we recently broke down from. I find that confluence very interesting and something that gives more credence to this four hour wedge being legitimate. However with such a big support line as the weekly 200ma just below I'm not gonna be trying to do any limit sells or even shorts here because that support could easily bust us up out of this pattern logn before it reaches the wedge apex/h&s drop target. For this reason this idea will be left neutral.
BITSTAMP:BTCUSD
by DrDovetail
6
Possible head and shoulder breakdown here...Target 3290Leaving this idea neutral but leaning more short....the head and shoudler pattern on the 4hour chart appears to be triggering a breakdown. We may need a follow up 4 hour candle to confirm this so a fakeout is still possible...but if confirmed we have a drop target of $3290. Of course there is the massive weekly 200ma support just above it that could rpevent thee breakdown to reach its full target were a breakdown to be validated...so watch for a bounce there should it be validated. Odds are good it will be triggered however as we are already seeing lots of volume on this candle. Probability favors a breakdown more so than a fakeout at this point.
BITSTAMP:BTCUSD
by DrDovetail
XRP Triggers 1hr IH&S pattern breaks up out of Falling WedgeAs expected XRP has busted upward form its inverted head and shoulder pattern on the 1 hour chart. The breakout target of that should have been right at the top trendline of the 4hr chart falling wedge but the price action has exploded well above that and seems like it will very likely trigger the falling wedge breakout as well. So now the price target we are looking for next is 39 cents. We are quite overextended on the stochrsi though so we may consolidate sideways in a bull flag first before continuing upward to the 39 cent target. The current 4hr volume candle is absolutely massive which is a great sign for the bulls. Expect exciting fundamental developments from xrp in the coming days/weeks.
BITFINEX:XRPUSDLong
by DrDovetail
1
Smells like a fakeout…Looks like a fakeout…Is that the fakeout?Here on the XRPUSD 1day chart we have a pattern of a massive head and shoulders on xrp formed conveniently during a downward trend with a breakdown target of negative 20 cents. The Stoch RSI also bottomed out and is ready to travel upward again so there's not enough bearish momentum available to warrant such a breakdown. The downtrend makes it very unlikely a good head and shoulders because the h&s chart patterns that get validated are usually ones that act as reversal patterns at the top of trends not continuation patterns.Sure there are rare exceptions of when a continuation h&s happens but in reality those are just failed patterns that didnt trigger in my eyes. Still with it looking so obviously like a fakeout it makes one wonder if the whales are trying to fake us out with a fake fakeout...thats the only way I see something like this triggering. On the bitfinex chart this pattern is invalid but It appears to be valid for now on bitstamp,coinbase,and kraken. Its for this fake fakeout fakeout reason that I leave this idea neutral....but with a breakdown target of negative 20 cents, it seems like a ridiculous notion to believe it ever could be anything other than a fakeout.
BITSTAMP:XRPUSD
by DrDovetail
1
Bottom very near. One more final breakdown?A temporary short idea here but the target of this drop could be one of 7 potential targets shown here. To play it safe I am going to be setting a limit buy up right buy the 1 week 200ma(shown here in sky blue) it is conveniently lined up right with the neckline of the larger head and shoulders pattern so I anticipate the price action could attempt a head and shoulder breakdown fakeout and then have the 200 week moving average bounce the price action back up thereby essentially double bottoming off the 200 weekly MA coupled with the last bounce it did off of it at our most recent low and we could see a big bounce from there. However if the 200 weekly ma doesn't hold..I see 6 more potential big support zones here that I have linked and labelled with corresponding color price target boxes accordingly. I plan to limit buy the 200ma and buy the dip on each additional target it drops to..so even though this idea is short on the long term I'm very bullish.
BITSTAMP:BTCUSDShort
by DrDovetail
Ethereum close to completeing 4hr h&s + 4hr deathcrossthis idea is gonna remain neutral for now because fakeouts are always a possibility in crypto but we can see we are about to potentially complete a right shoulder on a very ugly looking head and shoulder pattern on ethusd's 4hr chart....we can also see that the 4hr chart is once again quickly approaching a 4hr deathcross....xrp had its 4hr death cross which led to downside followed by bitcoin which just had its and seems to be leaning towards more downside so if ethereum also gets a 4hr deathcross I'm guessing more downside is very probable...looking left on our chart we can see what kind of downside came with the last 4hr death cross...it wasn't pretty so should this 4hr deathcross occur here I think it is very very likely we will see ethereum trigger this head and shoulders breakdown which could potentially send it all the way down to $65 if this happend hopefully that will mean that the bottom of the bear market is very very near. Of course a sudden huge green candle could prevent all of this so be prepared for a fakeout around the neckline as always. It is that possibility that has me leaving this idea neutral instead of marking it as short.
BITSTAMP:ETHUSD
by DrDovetail