BITCOINBitcoin's long-term curved channel is broken with last week's candle !!!
The head and shoulders pattern is likely to form at the end of the downtrend in the 4-hour timeframe, in which case Bitcoin will be above the $ 23,823 price range. It can even increase up to $ 30,000 and $ 31,000.
From this range onwards, there is room for discussion!
Can Bitcoin increase up to the specified yellow limits by withdrawing orders in the $ 18,000 range, or does it need orders in the $ 11,000 range to increase the price ($ 44,000 - $ 63,000) ????
Leftshoulder
ADAUSDTWhen the price rises with this intensive move to the specified range, which is a very important range, the probability of continuing the upward trend is very, very low!
The price seems to react when it reaches the specified range, it should be noted that the correction process within the channel is not yet complete. Of course, it is possible to engulf the range (touch the price 0.72) and then complete the downtrend.
If the specified ranges become engulfed, the probability that it will continue its upward trend by withdrawing orders from lower regions will be strengthened.
NEOUSDTBased on this intensive movement that we have in the four-hour chart and the reaction that the price has shown to the blue range.
I have the mentality that the price should come out of the compression from the bottom.
The $ 12.698 price range seems to be suitable for the reaction and the entry point for the trade.
Grab A Pair of Nike’s For A Friendly Game Of…Grab A Pair of Nike’s For A Friendly Game Of…
...head shoulders knees and toes!
I’ve identified a head and shoulders pattern on Nike’s (NKE) weekly chart.
My plan is to swing put option contracts on NKE. The measurement from the neck to the head is approximately 55.69 ticks. Therefore, the maximum price move to the downside is 62.99.
On another note, I was looking at Nike’s trend going back to 2016 and identified several bullish patterns along the way that made me smile with glee. I like this stock and will pay attention to it more than I have in the past.
*This is not financial advice.
“Check” your head and shoulders,
Al
Short term sell, Long term buyGold presented a double bottom during a corrective wave after strong movement to the upside. I want to see price action push up a bit more before we catch a retracement to the Right Shoulder of a H&S formation. There we will ride the next impulse wave.
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