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Head and Shoulders

COINbase Macro Analysis: To Keep You Informed Of OpportunityHi Guys! As always i try to bring ideas that catch my attention on the macro timeframes. The one that got my attention is Coinbase (COIN). Ive been tracking coinbase for some time now, ever since i discovered the Inverse Head and Shoulders pattern. (Ill be putting the link to that idea and others related to COIN below. This current analysis will be assessing whether or not the Inverse head and shoulders pattern has more juice left or not in continuing the rally from the bottom at $31.00. Pattern was confirmed when we broke the Head & Shoulders neckline. This analysis is on the 1 week timeframe. Some areas have been highlighted. Major Resistance -> this is a critical area in my opinion, further gains being linked to us needing price to be ABOVE this lvl. We are currently BELOW it. But have not yet confirmed in my opinion. Last weeks candle had equal top/bottom wicks, which usually means buyers and sellers were equaled out, not giving a direction. We would need next week to play out in a more decisive manner. And for price to be ABOVE Major Resistance lvl. We are also current ABOVE 21 EMA, as long as we stay ABOVE it, UPtrend is intact. We've also had 2 Golden Crosses occur where 21 EMA and 50 SMA crossed ABOVE 100 SMA. As long as we stay crossed Uptrends tend to continue. Ive also applied FIB retracement lvls from our current top to the bottom at $31. We've been rejected from 0.786 lvl. Watch for a test of the 0.618 level which is known as the Golden Ratio. If 21 EMA is broken, it becomes more probable. My personally opinion is that i think we will touch the 0.618 lvl. We would need to maintain Support ABOVE here. This area also coincides with a potential Consolidation range bottom. Which I think is likely to be forming, as COIN tends to move like this as seen in previous history. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on SNOW in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:COIN
by SafofAllTrades
PEPE breakout eyeing up to 50% gains!Last week CRYPTOCAP:PEPE broke out of an inverted head and shoulders formation and it seems to be correlated with mania surrounding $GME. We have since retraced much of the move to retest the pattern's neckline and so far it has held. Looking for price to move now to 0.000012-0.000014 in the short term, which would be up to 50% gain! On the shorter timeframe its possible that price is within a descending channel of sorts. Price will start moving up quicker once we have broken that formation.
Long
by HaydenOtto
3
Inverted Head and Shoulders Pattern for BTC/USD, Anyone?BTC/USD bulls have been making a comeback since forming a low of $56,478 and recently completed an inverted head and shoulders pattern (left shoulder: $59,559; head: $56,478; right shoulder: $60,165). Yesterday’s rally ventured through the pattern’s neckline, a descending line extended from the high of $67,273. What is interesting from a technical standpoint is that the pattern’s profit objective – taken from the value between the head and the neckline and extended from the breakout point – merges with the all-time high of $73,845 at $73,756.
FPMARKETS:BTCUSDLong
by FPMarkets
Eth looks like it will retrace some then go up!Judging by the indicators like MACD and RSI, and the general behavior of Eth, it seems like it'll retrace this move overnight, maybe a day or so, then go back up again! It's hit its 12-3 Fib (3 wave move) targets in the 1 hr time frame over the last 2 1/2 weeks setup. Eth put in an Inverse H&S in the last 5 weeks and satisfied the move, now it will most likely extend upwards Targeting $4900 (after a small-medium sized retracement) Eth Hit its high from 5 weeks ago. Good Luck! Also Remember Jesus! He gives you your very breath and sanity! =)
COINBASE:ETHUSDLong
by Pouncer626
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
Bitcoin Cash $BCH looks primed for a leg upApart from the obvious slanted Inverse Head and Shoulders pattern ( I prefer upward-slanted-neckline inverse H&S as printing higher highs indicate strength ), BINANCE:BCHUSDT looks ready to take off - under some conditions. I have a personal rule I go buy that goes like " Every Change of Character is an inducement to trap traders unless proven otherwise ". We have broken out of the slanted Inverted H&S and broke the previous high (between the head and the right shoulder) which would count as a Change of Character (keep in mind the rule I have mentioned above). In order to avoid falling into the trap of inducement, we should wait for the price to go a bit higher to confirm a more solid ChoCh, then wait for the price to retrace back and bounce up off a demand zone / OB+ (and possibly successfully retesting the Inv. H&S neckline) making a higher low and going all the way up to break the high that caused the Change of Character, thus confirming the flip in trend. I do not have any specific targets, I have been holding NYSE:BCH for a while and I am in it for the long run but the golden pocket of Fibonacci retracements is a decent area to book some profit (or all of it). 🚨 Always manage your risk and use adequate position size.
Long
by xcitedDelirium
Oatly Whats likely, More Price Decline or Bottom reached?Hi Guys. This is a Technical Analysis Update on Oatly, (OTLY). On the 1 Week Timeframe. We are in a critical area for OTLY. We have continued our DECLINE from the REJECTION area With last weeks candle close, We have CLOSED BELOW the "MAJOR SUPPORT" Area. This candle close isn't enough information to assess what comes next. The next week or the next couple weeks we need CONFIRMATION. So its important to observe what happens next. So couple of scenarios can occur: 1. We confirm back ABOVE the MAJOR SUPPORT line. Leading to the formation of a DOUBLE BOTTOM pattern. This would confirm our bottom for OTLY, and we start to move back up to Resistance levels. 2. We CONFIRM our break BELOW the MAJOR SUPPORT. Leading to not only ALL TIME LOWS, but the potential for the DESCENDING Triangle to play out. If thats the case, we can go as LOW as $0.40 cents. But without data points, its hard to assess if we do go down that far or stop before. Notice also the "Bullish Divergence Trendline" on Price action. This line coincides with our "Measured Target". Could be an area where we bounce from and be a potential Bottom area. 3. Ideal scenario would be we come down a bit lower from the Major SUPPORT Line and start our way back up ABOVE "Major Support". This would form a "Head" and play into a potential bottoming pattern, the Inverse Head & Shoulders pattern. The First green circle indicating our 1st bottom of potential double bottom, would be our left shoulder. Watch also the RSI. We are nearing a Support test on the "Bullish DIVERGENCE" trendline. We want this to stay as support. We don't want a break and confirmation BELOW the RED dashed line. It could negate our Bullish Divergence Trend. The STOCH RSI is also something to watch. We have traveled BELOW the 20 level. Extended stay below here, would indicate further Price DECLINES. We would like to see a BUllish cross back ABOVE 20 level for Bullish Momentum to come in and push prices back up. If we do get a cross, then Double bottom is likely. We need to stay level headed as OTLY bottoms out. Take it one step at a time with an objective mindset. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on OTLY in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:OTLYShort
by SafofAllTrades
7
BONK/USDT LOOKS READY FOR A 100% PUMP!!Hey everyone! If you find this analysis valuable, please consider giving it a thumbs up and following for more content. BONK is forming a potential inverse head and shoulders pattern. A confirmed breakout above the neckline could signal a significant price increase. Here's what to watch for: Breakout Confirmation: A candle close above the neckline strengthens the bullish case. Volume: Higher trading volume on the breakout can increase confidence in the signal. Possible Entry & Targets : Entry: $0.025-$0.028 Potential Targets: $0.034, $0.042, $0.048, $0.060 Stop-Loss: $0.022 (Consider risk management strategies and set a stop-loss that suits your risk tolerance.) Let's discuss it! What are your thoughts on BONK's current price action? Share your analysis in the comments below!
Long
by CoreCrypto1
Propy already trying to trigger bigger invh&s pattern? Prop has technically already completed a right shoulder and currently has a decent sized green candle above the neckline. That shoulder is extremely small and disproportional to the rest of the inverse head and shoulder pattern, but I’ve seen even uglier looking versions of this pattern get validated so it is quite possible we could see it validate on the current breach above the neckline. What I’ve also seen many times is price action going back below the neckline 1-4 more time before the official breakout validation happens. Either way once the first breach happens it’s always wise to start keeping a close eye on an inv h&s patter. The breakout target for this one is pretty massive, around $42 or so, so I plan on trying to add some more propy to my holdings before the validation is confirmed. *not financial advice*
COINBASE:PROUSD
by DrDovetail
7
#Bitcoin [ Inverted Head And Shoulders - Short Squeeze Combo ] BTCUSD has printed an allbeit slanted yet very nice inverted head and shoulders that has retested and played out perfectly so far. The measured move coincides with multiple high time frame short liquidation levels (Not marked on this chart) with the biggest level being a 6 MONTH high volume liquidation level at $74,045. This strong of a #shortsqueeze could easily amplify the measured move, which I have extended, using the 150%-161.8% fib levels. The extension also lines right up with where all short liquidation levels end on the Coinglass heat map.
COINBASE:BTCUSDLong
by DoozerInvest
🚀Bitcoin will Go Up after Pullback🚀💡 Bitcoin managed to break the 🔴 Resistance zone($65,700-$64,180) 🔴, Resistance line and 50_SMA(Daily) yesterday. 💡 Bitcoin seems to be completing a pullback right now. 🌊Regarding Elliott wave theory , Bitcoin seems to have completed the main wave 3 above the resistance zone and is currently completing wave 4 . 📈In terms of Classic Technical Analysis , Bitcoin managed to break the resistance zone , resistance line, and 50_SMA(Daily) with the help of the Inverse Head and Shoulders Pattern . Bitcoin seems to have increased at least to the 🎯Target🎯 of this pattern. 💡Let's take a look at the Market Cap USDT Dominance% (USDT.D%) chart . 💡 USDT.D% seems to start falling after reaching the 🔴 Resistance zone(4.92%-4.87%) 🔴, which is in line with Bitcoin's analysis. ⚠️The scenario will change if USDT.D% can break the resistance zone⚠️.👇 🔔I expect Bitcoin to rise to the next 🔴 Resistance zone($65,700-$67,520) 🔴 after the completion of wave 4 (pullback) . ❗️⚠️Note⚠️❗️: If Bitcoin falls below the 🔴 Resistance zone($65,700-$64,180) 🔴, the scenario will change. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 2-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
9