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Inverse Head and Shoulders

NEARUSDT is creating an inverse head and shouldersThe price bounced on the monthly support on 8$ after a false breakout from the weekly dynamic support. On the daily timeframe, the price had a breakout from the dynamic resistance and from the weekly resistance, and now the price is testing the 0.618 Fibonacci level as resistance On 5h timeframe, the price is creating an inverse head and shoulders above the weekly resistance How to approach? If the price is going to have a breakout from its neckline and retest as new support, we can apply our rules for a new long position. Be aware of the weekly structure on 13$ According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
6
LINK/USDT - bullish reversal pattern close to breakoutLINK/USDT is currently right at the tip of a falling wedge after having quickly pinged the macro 0.786 fib level which makes me very optimistic about this being the bottom and seeing a successful reversal. In addition to that we can also see significant bullish divergence on the daily which ranges back to December and further increases the odds of a textbook breakout which LINK tends to have especially with falling wedges (examples can be seen in my earlier charts linked below in the related ideas section). On shorter time frames LINK is currently forming an inverse H&S which combined with the falling wedge makes for a great reversal pattern which produces consistent results and is close to completion. LINK/USDT 1hr: Since LINK is a long-term hold for me I usually don't use stop losses and mainly look for prices to accumulate more but for a swing trade I'd consider one slightly below the last 0.786 ping since losing that level would render it a descending triangle breakout and likely lead to a longer bear trend. Please note that the price projection is just that and should only guide as a visual aid for the direction I expect it to go. With staking said to release this year this looks like a great opportunity to stock up on some LINK at a discount before the action starts. Best of luck with your trades and let me know what you think!
Long
by Wolfy_
BTC, iHSP Target 45kMy strategy always boils down to 2 entries for 1 stop loss which is in my opinion the most important. Long: 1- Entry 0,618 Fib Retracement 2 - cloud support STOP LOSS: 0.8% BELOW 0.786 FIB Retracement Target: 1 - 0,5 Fib Retracement 2- 0,236 Fib Extension (from 0.5 fib Retracement, increase stop to 0.618 fib Retracement and go up with each achievement of resistance) Short: 1- Entry 0,382 Fib Retracement 2- 0,236 Fib Retracement STOP LOSS 0.8% ABOVE 0,236 Fib Extension
Long
by SilvinhaRosa
3
KCSUSDT is going to create an inverse head and shouldersThe price had a breakout from the daily dynamic resistance and now the market is trying to have a breakout from the weekly resistance. On the daily timeframe, we can see an inverse head and shoulders and the price creates its neckline on the weekly How to approach? We are monitoring the price action, we made more than 11% since the previous idea. Now I'd like to see a breakout from the neck line with volume, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
2
Inverse Head and ShouldersLong Term Trend: Bitcoin is still bullish in the bigger picture. This is due to the higher lows of 28796 and the recent low of 32837. Short Term: Bitcoin is currently forming the 2nd shoulder of the inverse H&S pattern. The reverse usually occurs at 1/2 or 2/3 retrace of the neckline. Lower volume also favors the 2nd shoulder to hold. To successfully complete the pattern we will need to see an increase in volume over the next few days and a rise in price. Profit targets are meassuered from the head to the neckline. I will set my SL below todays candle. I am currently looking for new job opportunities in the trading/crypto space. You can find my LinkedIn on my TradingView Profile.
FTX:BTCPERPLong
by DanielH1
Inverse H/S on BTC with weakening sell pressure? Bottom close?We've tagged our 39.6k level nicely for a potential inverse h/s. RSI is seeing a cross on the 4h and we have a td9 on the 4h, so chances of movement up here in the short term is quite good. Also this sell spike has really solidified the bullish divergence we've been seeing on the sell pressure side: as the price increases the sell pressure has decreased, while buy pressure started picking up. Very interesting as this usually points to sell pressure weakening. This is why our short term sentiment is now neutral rather than bearish. If we get a bounce here we want to watch 42k as the next point of interest. it's our volume point of control since the start of the year, has a lot of historical movement and as we all know 42 is the answer to the ultimate question. Failure to hold this level - we move to 38k as our next point of interest. But as stated above - we're getting to heavy reversal territory on BTC.
by cryptosince1963
2