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Head_and_shoulder

Bitcoin: Moment Of Truth For Bulls! Inverse Head & ShoulderTwo weeks ago I made an analysis where I discussed a potential short-term bearish view on Bitcoin's price, see below. I argued that if I were a bull, I'd wait for either a new all-time high break out or a sizeable correction before stepping in the market again. As seen on the chart, my purple support line is holding (for now!). A reversal from this area would make it a perfect inverse head & shoulders pattern, which is a bullish reversal pattern. To strengthen my short-term bullish view, Bitcoin's daily RSI has hit oversold for the first time since August 2023, 10 months ago! Patient bulls have been waiting for a long time for the RSI to hit oversold again on the daily. Whether it will be enough remains to be seen. However, I can clearly see that there's a great bullish short-term opportunity here. See signal on the chart. Be aware, it's a risky trade.
Long
by FieryTrading
18
Head & Shoulder pattern in Auto Axles. Auto Axles has been corrected from 2449 to 1860 by forming Lower High and Lower Lows. Price has been reverted from supply zone (1730 - 1800) on weekly time frame. It has formed higher high recently showing possibility of trend reversal and has also formed Head & Shoulder pattern on daily time frame and current price is near to neck line of H&S pattern, Having possibility for uptrend move. Share is trading below 200 D SMA. CMP - 1866 RSI - 51 Entry price - 1885 Target price - 2070 (around 10%) SL - 1790 (5%) Disclaimer - This is for education purpose only. I am not a SEBI registered analyst. Take advise from your financial advisor before investing.
NSE:AUTOAXLESLong
by jeet20
IMX Analysis: Daily Review and Bitcoin Update🔍Let's dive into today's analysis. Today, we're focusing on the IMX coin, examining it in the daily timeframe. But before we get into that, as usual, let's review the daily Bitcoin analysis and provide an update on yesterday's analysis in the 1-hour timeframe. 👑 Bitcoin Analysis 1-Hour Timeframe Bitcoin analysis is in the 1-hour timeframe. As mentioned yesterday, the market needs to establish a new structure. Given that today is Saturday and market volume is low, it is advisable not to open any positions today and tomorrow. 📈 After the recent drop, we saw a slight upward movement with very low volume, which appears to be a pullback to 64530, overlapping with the middle line of the descending channel. If selling volume enters the market simultaneously with a rejection from this area, despite it being Saturday, I might open my position with less risk. The target for this position could be the channel's bottom or 63343. 🔑 Breaking 44.53 can be a good confirmation for this risky short position. ⚠️ Currently, I don't have a trigger for a long position and won't open one until buying volume enters the market. If you want to open a long position, breaking 64530 could be suitable, but I don't recommend opening a position with this trigger, and I won't either. 🎮 IMX Analysis 🔫Overview IMX operates in the field of crypto games, providing infrastructure for other projects. It allows both game creation and gameplay within its ecosystem, making it a comprehensive platform for enthusiasts of crypto games and play-to-earn models. 📅Daily Timeframe Looking at the chart in the daily timeframe, the first thing that stands out is the head and shoulders pattern, with its trigger already activated. This pattern emerged from the coin's upward movement from 0.4915 to 3.6567, with the trigger appearing at the 0.382 level. Upon breaking this trigger, we can aim for the targets indicated in the chart. 🎯 The first target is the 1 Fibonacci extension point on the downside, overlapping with the 1.2463 support, forming a strong area. The second target is an extremely strong area for several reasons: it is the 1.618 Fibonacci extension point and one of the most important support levels for this coin. Additionally, it is the 0.786 Fibonacci retracement point and the first target of the head and shoulders pattern. 🔻 Currently, the trend for this coin appears bearish. Breaking 23.75 in RSI can introduce more downward momentum into the market. However, for a long or spot purchase, I'll wait until the price moves above the 1.7739 area and RSI breaks 39.60. Only then will I consider a long position. 📝 In summary, while the current market sentiment for both Bitcoin and IMX is bearish, careful observation of key levels and triggers can present potential trading opportunities. For Bitcoin, caution is advised with low market volume over the weekend. For IMX, the head and shoulders pattern indicates possible downward targets, but significant levels must be watched for potential reversal signals. Always wait for volume confirmation to avoid false moves and optimize your trading decisions.
Short
by itsparham96
2
Bitcoin Potentially Forming An Inverse Head & Shoulders: Dump?After yesterday's sell-off I started to wonder what would happen if BTC would fall again and how the price action would look like. If BTC were to go down again I'd look for a retest of the 61k-60k area (purple dotted line). This area has proven to offer strong support, and can be a stepping stone for an inverse head & shoulders pattern. Keep in mind that BTC going down to 60k is (in my eyes) less likely than making a new all-time high soon. The pattern has yet to be confirmed. However, if we go down you are prepared.
Short
by FieryTrading
15
Bitcoin Head and Shoulders dip to $60,500OKX:BTCUSDT has created a classic Head & Shoulders pattern on the daily timeframe. If it confirms below the neckline, we could see a pullback to $60,500 - the same distance from the peak of the Head to the neckline from the breakdown. This is not actionable until it confirms, when a candle closes lower than the first candle closing below the breakdown. Given the institutional interest and price manipulation, this could be turned around by market makers, so I won't be entering a short, or exiting my spot positions, until I see confirmation on the daily timeframe. However, I could also see those who manipulate the markets wanting a lower entry for large amounts of institutional capital - so the price could likely be manipulated either way. What the chart tells us is this is a big bearish signal to be monitored. There is also a Bearish Divergence on the RSI, which isn't actionable by itself, but does add a layer of confluence.
Short
by tokentradertv
1
ETH Support 3700 Appears To Be HoldingETH ETFs will give Ethereum and therefore altcoins a nice bump/pump and I believe that, as long as ETH can hold this current support level at around 3700, then Ethereum and altcoins have found their local low. In other words, altcoin season is close. Supporting this theory is this inverse H&S pattern which I spotted well before the right shoulder had even formed. We can now see that this pattern appears to actually be playing out and Ethereum should remain strong for the remainder of 2024, though the possibility of breaking support at 3700 and dropping to 3500 still remains relatively strong as well before further upside. Adjust all stops and plan accordingly.
COINBASE:ETHUSDLong
by stewdamus
1
#campus making inv H&S pattern, close above 261 fatega kya?#Campus activewear on daily time frame is making a pattern on popular shampoo pattern, Head & shoulder. A daily close above 261 can take this stock towards 294/308. This is a company where around 12.5% stake is held by FII&DII put together and these big sharks never enter for small gains. Campus is going to publish their results on 28th May, so volatility will be at its peak. Below 240 will be exit sign for me. Lets see if we get desired movement or not.
NSE:CAMPUSLong
by ssudhirsharma11
DOGE MONTHLY BREAKOUT? PLUS INV HEAD AND SHOULDERSObserved massive rally after the effects of the CPI report that surge BTC price past 6% and followed by other major coins. Now, I will tackle the possible BINANCE:DOGEUSDT breakout after the rally on the almost 2-month diagonal resistance trendline along with an inverse head and shoulders, a bullish pattern since the coin is on the downtrend that can be a sign of trend reversal for the coin. Other details for the setup and the approach for DOGE will be discussed in the idea threads below. Stay tuned!
Long
by luigi360swirl
Silver breaking out of its consolidationSilver is breaking out its long term consolidation and triggering a bullish reversed Head & Shoulder pattern with a target in the $42.50 area. Next resistances at the all time high near $50 then the line linking the top of the channel near $53. A break below $23.50 would invalidate this view. ________________ With gold and copper making all time highs, the governments and central banks printing money like crazy, it's hard to believe that Silver won't catch up and eventually make new all time highs.
TVC:SILVERLong
by waverity
🔥 Bitcoin Inverse Head & Shoulders! New All-Time High Soon 🚀Over the last week or so I've made a few posts on Bitcoin's inverse head & shoulders pattern, which is a bullish reversal pattern. In my initial post below I expected the reversal to come in earlier, but apparently we first had to go down more before the right shoulder was completed. As of now, the H&S pattern is confirmed (unless we dump in the next ~30 min). In my eyes, this could be the start of the next leg up towards the current all-time high, and likely beyond.
Long
by FieryTrading
5