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Head and Shoulders

BTC/USD Appears Poised for Further Outperformance It was another positive week for BTC/USD, which was up +1.9% as of London’s close on Friday despite finishing considerably off its best levels. Price movement on the weekly timeframe has been working between the limits of a potential bullish flag pattern since forming the all-time high of $73,845 in March. Even though the unit faded the upper edge of the aforementioned pattern last week, the daily timeframe suggests there is scope to navigate higher terrain. All-Time Highs in Reach The Research Team recently communicated that BTC/USD bulls had made a comeback since forming a low of $56,478 and completed a daily inverted head and shoulders pattern (left shoulder: $59,559; head: $56,478; right shoulder: $60,165). The advance sent the unit through the pattern’s neckline, a descending line extended from the high of $67,273, and permitted traders to pencil in the pattern’s profit objective – taken from the value between the head and the neckline and extended from the breakout point – which shares chart space with the all-time high of $73,845 at $73,756. Bolstering the possibility of challenging all-time highs this week, the Relative Strength Index (RSI) rebounded from trendline support (taken from the low of 23.71) on the weekly chart and the daily chart’s RSI is treading water ahead of trendline support, extended from the low of 35.47. The RSI also remains above the 50.00 centreline on both charts (positive momentum). Direction This Week? A daily decision point area at $64,612-$66,484 held ground in the second half of last week, and price has room to move higher this week towards the all-time highs/inverted head and shoulders take-profit objective at around $73,840ish. This, of course, also highlights a possible breakout above the weekly chart’s bullish flag pattern structure.
FPMARKETS:BTCUSDLong
by FPMarkets
NEARUSDT THREE RISING VALLEYSWe were first presented with a momentum shifting structure which looked like an inverse head and shoulders with 4 shoulders, but then created 3 consecutive higher lows and higher highs to form the image of a three rising valleys structure. We sprung from the resistance line and recently back tested the neckline as support. Our first target is the measure from the first low and first high from the three rising valleys. Our second target is a key resistance line from October of 2021. If the asset falls below the third valley then the setup is invalid. As a compliment, NEAR when compared to the BTC chart also looks bullish, so we could see NEAR outperforming BTC in the near future. Overall, NEAR has had a strong uptrend in weekly scale compared to most altcoins so I'm expecting it to keep outperforming in the next few months.
Long
by diegochuw
Is a Head and Shoulders pattern forming on IMX?Hello everyone! #IMX, I dare to suggest that a head and shoulders technical analysis pattern is forming on the chart. It can be observed that the price reacts well as it approaches the 0.786 Fibonacci level. In this area, the left shoulder was formed and now the right shoulder may be forming. The neckline is at a strong Fibonacci level of 0.618. The price potential upon completion of the pattern is around $0.85. However, the decline may be halted by Fibonacci levels of 0.5 - 0.382.
Short
by neverovv
PLTR: Potential Giant H&SIt's not quite there, but it's certainly on track... don't take this as a prediction of the future because well that's impossible. Lot's will need to line up for this to occur but so far so good. Retailers selling off, institutions are buying, and the company is growing 20% YoY. If growth improves near the 14-15 dollar levels, we could see a very bullish reversal. If we get down to the 15's, I think it would be a blessing. Best of luck y'all. This isn't trading advise. Make your own decisions. This is just some fun technical analysis.
NYSE:PLTRLong
by HassiOnTheMoon
Nvidia - H&S on 4H (Possible Overhead Breakout Later)I have not posted for a while, been busy trying to improve my trading entries and exit. I am back now and will be posting more regularly :). Nvidia has broken out of H&S pattern on 4 hour. Any retest to the highlighted orange area around 888-900 would be suitable for buying. Stops can be placed below the 10 DEMA or 20 DEMA. For conservative risk traders, stops can be placed below at 848. I am looking for a run up to 950, where I will take one-third of my position off and wait for volume and price confirmation for break above 960. At the moment, volume is not that great so its difficult to put on a huge position with conviction. Hoping to see that manifest, in breakout above 960. If we can go above 960, I honestly believe 1500 is on the cards for this stock.
NASDAQ:NVDALong
by Kemsdale
GE Possible Head and Shoulders Pattern GE and the whole Aerospace and Defense industry have been relatively strong as of late. However we are entering into the Memorial Day weekend and the low volume that comes with it. On May 8th General Electric’s price pushed up to the $170 level, a level with a large amount of options interest. This $170 strike is considered the Call Wall and an area of large resistance. Since then prices have pulled back and are currently sitting on what I believe to be another big support level at $160, a large options strike. The $160.00 level also looks to be the “neckline” of a head and shoulders pattern. If this plays out, $149.92 would be the target area. Thanks for reading! Stay disciplined and stay green!
NYSE:GE
by Ra1nyDayz
$SLV ETF Inverse Head & Shoulders Pattern & Fibonacci ResistanceAMEX:SLV ETF Inverse Head & Shoulders Pattern & 50% Fibonacci Resistance. Silver will need to consolidate before it can break higher to the blue line. The Inverse Head & Shoulders (IHS) pattern is a bullish reversal pattern in technical analysis, typically appearing at the end of a downtrend. It is characterized by three distinct lows: 1. **Left Shoulder:** The initial low formed during the downtrend. 2. **Head:** A lower low, signifying a continuation of the downtrend but also a potential reversal point. 3. **Right Shoulder:** Another low, typically higher than the head, indicating weakening downward pressure. The neckline of the IHS pattern is a resistance level drawn by connecting the highs between the left shoulder and head, and the head and right shoulder. When the price breaks above this neckline, it confirms the pattern and signals a potential reversal to an uptrend. Traders often use the IHS pattern in conjunction with Fibonacci retracement levels to determine potential price targets. After the neckline breakout, the price is likely to retrace a portion of the initial move up before continuing higher. Common Fibonacci retracement levels used are 38.2%, 50%, and 61.8%. **Here's how the Inverse Head & Shoulders pattern and Fibonacci resistance work together:** 1. **Identify the IHS Pattern:** Locate the left shoulder, head, right shoulder, and neckline on a price chart. 2. **Confirm the Breakout:** Wait for the price to break decisively above the neckline on increasing volume. 3. **Apply Fibonacci Retracement:** Draw Fibonacci retracement levels from the low of the head to the high of the right shoulder. 4. **Set Price Targets:** Look for potential resistance and profit-taking opportunities at the 38.2%, 50%, and 61.8% retracement levels. **Key Points:** * The IHS pattern is a powerful bullish reversal signal. * Fibonacci retracement levels can help identify potential price targets after the breakout. * Traders should always combine the IHS pattern with other technical indicators and risk management strategies to improve their trading decisions. **Disclaimer:** Technical analysis is not a foolproof method for predicting price movements. It's essential to conduct thorough research and consider various factors before making any investment decisions.
AMEX:SLVLong
by AlgoTradeAlert
$RIOT Inverse Head & ShouldersNASDAQ:RIOT Inverse Head & Shoulders, our algorithm currently show a a sell alert large red dot, we are bullish bitcoin and so not we wait for a large green dot to accumulate. Riot Platforms, Inc. (formerly Riot Blockchain, Inc.) is a publicly traded Bitcoin mining company based in the United States. It operates large-scale Bitcoin mining facilities and focuses on expanding its mining capacity and infrastructure. **Key Points About Riot Platforms:** * **Bitcoin Mining:** The company's primary business is mining Bitcoin, utilizing specialized computers to solve complex mathematical problems and validate transactions on the blockchain. * **Data Centers:** Riot Platforms operates and invests in data centers to house their mining equipment and provide the necessary computational power for mining operations. * **Energy:** The company is focused on using sustainable energy sources for its mining operations to reduce its environmental impact. * **Publicly Traded:** Riot Platforms is listed on the NASDAQ stock exchange under the ticker symbol "RIOT." **Riot Platforms' main goal is to:** * Increase its Bitcoin mining capacity. * Become a leading player in the Bitcoin mining industry. * Contribute to the growth and adoption of Bitcoin. If you're interested in learning more about Riot Platforms, you can visit their website or search for their financial filings on the SEC's EDGAR database.
NASDAQ:RIOTLong
by AlgoTradeAlert