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1hr head and shoulder pattern forming at end of diamond patternWe can see a 1 hour head and shoulder pattern is threatening to break the neckline right now and if it were to do so we would essentially have a breakdown of the bearish continuation diamond pattern. We eliminated the possibility of it being a diamond bottom pattern when no volume accompanied the fakeout bullis breakout and nwo it is crawling back inside the diamond pattern at the last second to be able to turn it into a bearish continuation diamond with help from a 1 hour head and shoulder pattern breakdown. The target should the head and shoulder pattern breakdown but not not trigger the diamond is 3.6k and the secondary target should it also trigger the diamond breakdown we can see is much lower...I anticipate at the very least the head and shoulder breakdown occurring considering weekends are pretty infamous for dumping. However 4hr stochrsi is alreay pretty overextended on the bearish side so I can see a rebound happening by the time the 1 day stochrsi reaches that zone as well. However it is completely within the realm of possibility for us to also dip to the bearish continuation diamond target and even to the bottom trendline of the larger descending broadening wedge pattern we are seeing...if we do indeed fall below the 4hr 50ma(in orange) for too long of a period of time that gives us a real possibility of having the deathcross on the 4hr timeframe occur again which will inevitably lead to more downside...but I am hopefully we wont go farther down than the bottom trendline of the descending broadening wedge. These scenarios are only in pla in my mind if we first trigger the 1 hr chart head and shoulders...it will be what starts the dominoes on this one...if not we may just bounce back above the 4hr 50ma but probability does not favor this.
BITSTAMP:BTCUSDShort
by DrDovetail
bitcoin testing neckline of 4hr head & shoulder patternAs I was anticipating we have now broken down from the bear flag we were consolidating in on the 4hr chart...and now shown here in yellow is the 4hr head and shoulder pattern if it triggers the full potential drop target for it would be right around 3091 hopefully not as it could very easily invalidate our big 1 day chart inverted head and shoulder pattern...maybe it will get another big bounce when it revisits the 1 week charts 200ma (seen on bitstamp) we may be able to double bottom off that moving average. if not we could continue dipping somewhere between 2.8-2.9k and if that fails the bottom is likely around 1120. However hopefully the 200 weekly ma can save the price action and keep the inverted head and shoulder pattern from becoming invalidated.
BITMEX:BTCUSD.PShort
by DrDovetail
1
DOW approaching inevitable deathcross + h&s triggeredThis is my first ever non crypto idea on tradingview but I couldn't refrain from commenting on what I'm currently seeing on the Dow Jones. We can see a big head and shoulder pattern seems to have been triggered which has a drop target all the way down to the 21k range. Meanwhile it seems within the next 2-3 days a death cross is set to occur on the 1 day chart and considering this head and shoulder pattern seems to have already been triggered/validated I don't see any way shape or form that the DJI will be avoiding this deathcross...some wise friends of mine who have been at this much longer than I have are getting involved into some inverse ETFs right now in anticipation of it. I personally will not be making any financial advice on what to do here as I am not a financial advisor but it does appear that the writing is plainly on the wall...I also find it very interesting that the crypto market is now experiencing a bit of a pump during the DJIs + S&Ps downfall. I think we are in for a very interesting 2019 in both markets.
DJ:DJIShort
by DrDovetail
Bitcoin 4hr goldencross has just occurred; Fakeout still in playWe can now see the 4hour golden cross has occurred on the 4hr chart...this may spark a rally and we can see that the stochrsi has reached a good boucne support area with room to go up....however before this downturn, we did not achieve a higher high(which would have been around 4.4k), also this year has been particularly unkind to price action the majority of the times we have gotten a 4hr golden cross. Look left in the chart and you can see at least 3 golden crosses previously that did not get sustained and were followed soon after by a big sell off so it would not surprise me if we repeat history again considering we once again also didn't hit our higher high...howeverwe could for once finally see a real sustainable 4hr golden cross and plow back up above the head and shoulders neckline and trigger the breakout which would give us a target of 5.2k or so....there is also the possibility that that disproportionate right shoulder was really just the head finishing and the recent breakdown is actually the beginning of the right shoulder being formed so thats what the new descending yellow trendline is now representing...if that becomes the new neckline then we still ahve a chance to come up and trigger that which would have a higher price target if it were validated than the current inv h&s we have been looking at. Currently its best to maintain your position until you see obvious signs we are going lower. I sold when we broke back under the neckline but if you didn't right now is a little late to sell if I was in that position right now I would not exit until I saw that 4k had been flipped back to solidified resistance...as long as 4k maintains support there's a chance that this inv h&s brakout can still occur...of course that's just what I would do and not financial advic by any means so you do what you feel is best for you...thanks for reading and good luck!
BITMEX:BTCUSD.P
by DrDovetail
Mega Head and Shoulders invertidoQue la euforia por el cambio de tendencia no nos ciegue. El cambio de tendencia no está confirmado ni mucho menos. El precio puede estar formando un HCH invertido, pero inclusive confirmándose esta figura de cambio de tendencia tenemos que ser cautelosos con las inversiones a largo plazo. Personalmente no voy a asumir que la tendencia bajista haya terminado hasta que el precio rompa la fuerte resistencia de los $6600, pero para eso falta mas información en el gráfico. ¿Cuándo se confirmaría este hombro cabeza hombro invertido? El cuello de esta figura está por los $4300, que coincide con la EMA 55, con el 78.6% fibo y con la parte baja de la mega cuña alcista que se formó durante todo el 2018 una zona con muchas resistencias pero que el precio a visitado pocas veces. El objetivo mínimo del HCHI sería la parte alta de la misma cuña (por los $5300). En caso de perseguir este HCHI, el cuello sería la zona crítica. Si no se supera este nivel (flecha roja) el precio oscilaría entre los $3000 y $4000 durante un buen tiempo con posibilidad de buscar nuevos mínimos. Si se rompe el cuello esperaría el retesteo del cuello para entrar en largo con el objetivo de $5300. Pero teniendo en cuenta que, si bien es una figura de cambio de tendencia, puede no ser el cambio de tendencia general. Recordemos que el precio se mueve fractalmente, esto significa que de acuerdo al marco de tiempo que elijamos podemos ver micros o macros cambios de tendencia. Como aún no vimos la etapa de capitulación, creo que aún no vimos el fondo, por eso en esta idea propongo que la formación de un HCHI mayor y que recién estaríamos formando el hombro izquierdo. Sigan pendientes del precio si su idea es invertir a largo plazo.
BITSTAMP:BTCUSDLong
by LastBullRun
Doubble possible scenarios for btc, H&S or Doubble BottomShort and Concise First scenario- BTC next target is 4400 USD, then a retrace to 3700 usd (which is also fib 61.8), from there btc might go up to 4400 usd to form a head & shoulder pattern(reverse pattern). If btc breaks above 4400 usd with volume then next target is the strong resistance at 6000 USD(blue trendline). Second scenario- BTC will fail to break above head & shoulder pattern, a possible target might be then the big support at 3180 USD(blue line) to form a doubble bottom. From there we could see a rally to 6000 USD.
Long
by naserboss
Possible Super inverse H&S is forming; Target:5.5kHello everyone, If you follow my telegram channel you seen my call and the discovery of the june fractal playing out. + There is a big daily bullish divergence. Here is the fractal comparison I made: The fractal of june was part of a big inverse h&s formation. I'm considering that the fractal right now will also extend also in the same formation. If that is correct then the 5.5k target can be reached end of december. I don't think this is the bottom. I think we will dump further from 5.5k towards 1.8-2.5k range to bottom out end of January or start of February.
BITSTAMP:BTCUSDLong
by CivilisedWolf
6
BTC/USD - Small H&S forming a bigger Inverse H&S - Bottom?From the price action of the past days it looks like the double bottom is in play, which means that the bottom has been set-up, at least in the short-term. Non the less, I see 2 good trading opportunities in the market now. Both of them are a head and shoulders pattern, one short-term and another one longer-term. From the hourly chart on the left it can bee seen that the Head and Shoulders had been formed overnight and despite the fact that I've missed the initial break it is a good idea to enter now as usually this pattern presumes the retest of the neckline. I will open a sell right now with the stop above the second shoulder and target based on the Minimum Price Objective + support level. The funny thing is that if the shorter term pattern will perfectly play out and we will see a bounce back to the recently established high, it should form the second shoulder of the inverse head and shoulders pattern on the 4h chart. The following is another indicator of the bottoming process. I will open the second buy trade on the break of the neckline. Those who want further confirmation could wait for the 1 or 4 hour candle close above it. Stop loss below the second shoulder (TP of the first sell trade) and TP based on the projection, which lies at 5225 price level. After expect that there will be a strong bounce of that level and we will probably see low 3000's again. Am not going to write a lot about other confirmations and reasons for opening these trades as am afraid will miss the first short-term sell trade. Will keep updating this idea as the price develops. Will really appreciate if you will support me by leaving likes and follows if you agree with this idea.
BITFINEX:BTCUSD
by CAS_Trading
1
inverted head & shoulders pattern on the btcusd 4hr chart This inverted head and shoulder has a disproportionately long left shoulder but it is still valid we are currently testing the neckline. Judging by how overextended the stochrsi is on the buy side on the 4hr chart there are decent odds that this could be rejected here at the neckline but I'm pretty certain on the 1 day stochrsi we are in the oversold territory still so it may just break up from here...I'm gonna wait until I see a clear rejection and solidified resistance from the neckline before I exit my position if I had already sold before this then I would simply wait for a break above the neckline to turn into solidified support before buying back in. My personal strategy and not any sort of financial advice of course..good luck and thanks for reading!
BITMEX:BTCUSD.P
by DrDovetail
potential inverted h&shoulders overlaid on top of falling wedgeWe are now potentially forming an inverted head and shoulder pattern overlaid on top of the falling wedge which only will increase the odds of a bullish breakout for btc. In order for this inverted head and shoulders to have a chance it must have a bounce before too long and the most likely spot we have as a good bounce support is the top trendline of the falling wedge...if we see it stay above that line odds are good of validating both he breakout of the falling wedge and the inverted h&s pattern but until I see that, this idea will remain neutral for now....if I see it break under the falling wedge trendline I will lean more bearish and think this was nothing more than a dead cat fakeout bounce...but for now we will have to wait and see what it decides to do at the falling wedge top trendline. I may not sell again until it breaks under the bottom trendline of the falling wedge though. The inverted head and shoulders can be seen on the 1hr,2hr,3hr, and 4hr charts. Thanks for reading this NON-financial advice from a NON-financial advisor like myself and good luck!
BITFINEX:BTCUSD
by DrDovetail
2
XRPUSD Pair about to trigger a gldncross on the 1 day & inv h&sTake a look at this picture perfect inverted head and shoulder setup on xrpusd's 1 day chart. Also take a look at how close the 50ma(in orange) is to rising above the 200ma(in blue) for a 1 day golden cross. Now factor in how the stoch rsi indicator has plenty of room to head upwards and is already suggesting its ready to do so. Lastly, factor in that we have already triggered a golden cross and inverted head and shoulder breakout on the xrpbtc pair...the golden cross on the xrpbtc pair has been sustained and didnt become a fakeout which is leading to huuuge leaps and gains over ethereum and btc...all this considered means the golden cross on the xrpusd pair should be sustained with similar results as well. While the rest of the crypto market has been in a free fall..XRP hs held steady making those gains against btc. Yet it hasn't been able to break out of the 48 cents-50cent range yet...once it sustains the golden cross on the usd pairing however we will definitely see it start to make 50-100% gains. First resistance will be back at the inv h&s neckline at 54-55 cents....once we break up from there the next target is the 75 cents range. This is of course just my opinion though so don't take it as financial advice for a financial advisor I am not. Thanks for reading!!
POLONIEX:XRPUSDLong
by DrDovetail
2