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Invertedheadandshoulders

BTC/USD H4/D1 charts (1/8/2019)Good morning, traders. As I spoke about during yesterday's live stream, price made a final move down toward the H1 pivot before this morning's breakout of the flag, stopping just about $14 above it. The target is now $4342 based on the height of the flagpole. H4 chart: The aforementioned bull flag target should bring price up to the possible ascending channel's EQ. Just above it is the R2 pivot. The swing high that denotes the upper boundary of the D1 TR's resistance is right above that at $4409.77. I am expecting price to potentially get as high as $4540 before retracing a bit and then pushing higher, however these are areas of significance and could provide resistance for price as it does. That being said, price must first close above the swing high at $4090 before we can even look at price targets. D1 chart: RSI broke bullishly out of its symmetrical triangle as price broke out its own symmetrical triangle. Price continues to print similarly to accumulation schematic #2 (accumulation without a Spring) as I outlined a few weeks back in orange. I have outlined the expected movement based on this TR with orange once again. Price following this path would basically be a repeat of its move up from $3100. D1 volume should at least print higher than January 4th's volume which will provide the expanding volume that we need to see. A potentially strong move up may even see it print higher than December 28th's volume. We must remain aware of the diagonal resistance that looms just above price. This is the descending dotted black line and denotes the neckline of the possible IHS that may be printing. The grey price range tool provides the target based on the flagpole of the large flag that price recently broke bullishly out of and the green price range tool provides the target of the IHS if it plays out as such. We need to see volume expanding and the candle spread continuing to print large on the rallies to validate the IHS. Anything else makes that particular pattern suspect, but it does not invalidate the large flag. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
2
BTC/USD H4/D1 charts (1/7/2019)Good morning, traders. As suggested was most likely on Friday, volatility came in and Bitcoin moved up over the weekend. Many traders were caught off guard as they expected price to drop (a symptom of the corrective market whereby traders expect every rally to fail). H4 chart: We can see that price broke upward out of the symmetrical triangle. The target based on the widest part of the triangle is denoted by the red price range tool at around $4275. Price is currently printing a bull flag with a target of about $325 above the point of breach based on the height of the flagpole. Breaking out during this candle or the next should align that target with the R2 pivot which is just under the TR's upper resistance. D1 chart: RSI broke bullishly out of its symmetrical triangle as price broke out its own symmetrical triangle. Price continues to print similarly to accumulation schematic #2 (accumulation without a Spring) as I outlined a few weeks back in orange. I have outlined the expected movement based on this TR with orange once again. Price following this path would basically be a repeat of its move up from $3100. We will take a look at this repetition during this morning's live stream. But we must remain aware of the diagonal resistance that looms just above price. This is the descending dotted black line and denotes the neckline of the possible IHS that may be printing. The grey price range tool provides the target based on the flagpole of the large flag that price recently broke bullishly out of and the green price range tool provides the target of the IHS if it plays out as such. We need to see volume expanding and the candle spread continuing to print large on the rallies to validate the IHS. Anything else makes that particular pattern suspect, but it does not invalidate the large flag. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
inv h&s breakout on LTC. Could lead to 1day golden cross + c&hCheers to my friend @XPCollector7 for bringing this one to my attention. We can see Litecoin is now triggering an inverted head and shoulder pattern that will, if we can maintain support above the 1 day 200ma(in blue), continue much further upwards from here...the next big line of resistance is the turquoise horizontal line here but the inverted head and shoulder breakout target has us going well above that. that same horizontal line could be a rimline for a fairly large cup and handle pattern so hopefully we do reach the full inverted head and shoulders pattern as it would likely trigger a cup and handle breakout too. We can see that if we continue this bull momentum to that range the trajectories of the 1 day 50&200mas suggest a 1 day golden cross could be well on the horizon which would lead to even more upside. Currently however the 1 day stochrsi is nearing the overextended zone which may see the price consolidating sideways a bit until it can cool off the stochrsi for more upside...however I think the stochrsi currently has enough upward room left to maintain support above the 1 day 200ma which is crucial in order to trigger all the other bullish possibilities. Of course this is all just my view on it and not financial advice but I do thank you for reading and wish you all the best of luck with whichever strategy you decide to execute.
Long
by DrDovetail
LTC Nears Signal Of Inverted H&S Pattern.Hello Everyone, There is a possible opportunity at hand as we near the completion of an inverted head and shoulders pattern, thus will become the signal to go long. All points are clear within the chart. This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework. Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment. Good Luck
Long
by keifer
BTC/USD D1 chart (1/4/2019)Good morning, traders. The Proof of Keys event came and went without any fanfare. There are some conspiracy theories concerning HitBTC and Bitfinex in relation to the event and exchange down time and/or frozen funds, but that's all they are. I am going to keep today's analysis short and sweet while concentrating on the D1 TF since I believe that unless you're scalping for $20-$50 at the most, there's really no strong argument for trading the smaller TFs until what's happening on the D1 plays out. D1 chart (Bitstamp): We can see the TR, potential IHS, and symmetrical triangle that are playing out at this time, as well as the volume nodes on the right hand side of the chart. It really does appear to all be coming down to this current consolidation. Price remains above the pivot but a retest of it as suport around $3695 would also simultaneously retest the triangle support, which would be positive. Current price action is at the EQ of the TR and within the HVN, so a move above that would be bullish and I would expect the mid-$5000s target, but a move below would be bearish and I would expect a test of the 78.6 retracement and possible a retest of the 2018 low. Even a test of the 78.6 retracement could be bullish as we would still be in a possible wave 2 of a larger degree. RSI is currently printing a symmetrical triangle and we can watch for a close above resistance or below support to likely tell us which way price is headed. Another thing to watch, if price drops, is the MACD histogram. The previous low was barely below the zero line on December 7th (price low $3210). This means that price would have to drop almost $550 from where it is just to avoid printing bullish divergence. Bullish divergence printing on this TF would indicate a larger trend change to the upside which would likely indicate that we are beginning wave 3 of a larger degree at that point. Interestingly, the 2018 low price marked the third alternating touch of a potential descending channel that has been in since the February 2018 low. If this is a valid channel, then the expectation should be a move toward the mid-$5000s to provide the fourth alternating touch and confirmation of that channel. This is something I have touched upon in previous live streams and will take a more detailed look at it today as well as shorter TFs. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
Bitcoin Very Bullish Reversal Signal. Awaiting Confirmation.Inverse head and shoulder patterns are one of the most bullish reversal patterns in technical analysis - when they confirm. Until they confirm, they are actually a bearish pattern. The neckline of the inverse head and shoulders (thick green line) is STRONG resistance until it is broken. If you look at the history of inverse head and shoulder patterns like this for Bitcoin during this bear downtrend, you will see most of them formed but didn't confirm by breaking above the neckline. It is important that you do NOT anticipate the completion of the inverse head and shoulder pattern by buying before it confirms. I would wait for the day to close above 6,900 before entering a trade. Not only is there strong resistance at the neckline, there is also strong resistance at 6,860 where BTC's price already retreated twice (local double top). If the inverse head and shoulder pattern confirms with a day close above $6,900, then the target becomes 15% from the neckline. This target is derived by the height of the head to the neckline as shown in the graph above.
Long
by ttrending
BTC/USD 1H/4H charts (12/24/2018)Good morning, traders, and Merry Christmas Eve. Bitcoin has been offering itself as a great present this past week and it looks like we've got some more upward momentum coming our way. I've got multiple things noted on these two charts, so take some time to understand it all. The 4H chart gives us the bigger picture. I have the large green accumulation TR noted as well as the wave count and possible IHS. The expectation is for price to complete wave 5 of this first larger wave up, followed by a retracement for the larger wave 2 which should end around the EQ of the green TR, printing the right shoulder. This would be an LPS within the TR and this accumulation would not have a Spring. We should see candle spread increasing and volume expanding as price heads into that larger wave 3, and breaks the IHS neckline, which would take it to the EQ of the light blue supply zone noted. That larger wave 4 should retest the IHS neckline as support and then thrust into a final larger wave 5 which ends at the top of the larger red price range tool target based on the height of the IHS. This gets price around $5800-$6000. It also brings the 2018 TR into play. As I have been stating all year, 2018 appears to have been accumulation with this recent move down being the Spring. If you are waiting for sub-$3000 prices, then you may not get it. That being said, I do have another EW count which would have this move up toward the $4400 area as the B wave with the C wave still to come. That C wave would see price dropping below the ST at the beginning of the blue wave 1 to make a new low. This would be a Spring in the green accumulation TR, if it were to play out like this, and then we would start counting five waves up as that should mark the lowest price we will see. Trader should watch price around the possible IHS right shoulder for clues as to which way price is likely to go at that time. The 1H chart on the right shows, what I believe to be, a running flat wave 4 correction completing. We should see the 5 waves down as drawn before beginning the wave 5 of the larger degree back up. The two recent highs would then be printing a double top (not confirmed until price closes below the horizontal green line) which has a price target of the small red price range tool target. The second top negated any potential bullish divergence in RSI or MACD in the near term, suggesting further movement down as well. The blue TR shows this small TF consolidation and would be re-accumulation without a spring (akin to what I described above) with the target being an LPS. There are never any guarantees, so traders should remain vigilant and keep their risk management strong. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
Probable Bottom Formation for BTCI know its too early for this but volume profile and RSI fits this narrative. This is just a guide for future reference. A probable inverse head and shoulders on the daily Time Frame. We are going 4500 the 3800 to breach 5k all the way to 5500. Altcoin Market Cap and Total Market Cap is showing similar bottom formation. Altcoin market cap just broke out of a year long falling wedge formation as a result of the recent 8 days rally. What you guys think? Not a financial advise
BITFINEX:BTCUSDLong
by tjpezlo
4hr golden cross incoming; just broke above inv h&s neckline.we just experienced a sizeable 4hr candle to start the new daily candle but so far not much volume to go with it yet on the daily... this could be a major bull trap we have technically broken above the neckline of the inverted head and shoulder pattern on the 4hour chart but the right shoulder is very disproportional and may actually just be part of the head still...small right shoulder have been known to trigger breakouts though but currently it may also just as easily be a fakeout...there is also a golden cross on the 4 hour chart that seems just a candle to away from occurring so altogether it is a recipe for either a massive move upward or a massive fakeout but either way a huge move is coming very soon...smart to wait for confirmation before going either way.
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