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Reverseheadandshoulders

Bitcoin in descending triangle going down now?Bitcoin is forming a descending triangle, which could indicate reversal of the uptrend for a temporary drop. This could be forming a right shoulder of reverse head and shoulders pattern. The previous support level at 6200 - 6300 doesn't have to be necessarily held, it could drop as low as the left shoulder did. What do you guys think? PS: note that both patters still need to be confirmed. I am definitely short now, my buy stop loss at 6732 (maybe too conservative, but BTC volatility is high :-))
Short
by telensky
3
Bitcoin rally possible now? Reverse head & shoulders?Hi guys! Most of you right now think of this symmetric triangle, continuation pattern and BTC breaking down. However: 1) As someone noted, the same situation was there in April lows, and the symmetric triangle broke upwards! 2) I also see possible reverse head & shoulders pattern on my chart - I denoted the possible outcome by blue arrow. But I don't really know, I am a beginner. I just wanted to say, perhaps it's not that one-sided and rally up is possible now? What do you think? Is it going to break up or down? Did you buy BTC already or are you still waiting? Me personally, I am betting on the break down, so I am not buying now, but I also don't want to miss possible rally up, so I am now placing a buy stop loss @ 5705. Why 5705? Because there are lot of sellers having their orders at 5700. What do you think? Your comments are welcome.
Long
by telensky
XLMUSD Reverse Head and Shoulders with 15% UpsideXLMUSD Lumen A small reverse head and shoulders with about 15% of upside to a minimum target at 508 once 445 is re-taken and held with stops below the neck-line when broken. It should then rally to the upper parallel where can look to take profits once this triggers. Until then this is still vulnerable to further sell offs - but slowly resistance looks to be getting ground away and eventually this is looking likely to pop to the upside again. Should be worth following when it does. But not until, unless it flips back down to the lower parallel first, which at this point looks unlikely.
BITTREX:XLMUSDLong
by sumastardon
XLM ADVANCED ICHIMOKU CRYPTO TA REVERSE HEAD AND SHOULDERSI think its quite clear to spot a Reverse Head and shoulders when looking at stellar. with this in mind, stellar is making a strong signal up. also the ichimoku cloud shows very weak resistance on the Red kumo cloud. also take note that the ichimoku settings are 20,60,120,30 for crypto markets. also price broke out of the 55 ema it may also look as we are on or 3rd wave quite possibly. any ideas please share. I SEE XLM MOVING UP 70% I ALSO SEE SUPPORT AROUND THIS RANGE
Long
by sociopath
1
ADABTC reversed Head and ShouldersADA is a strong coin which may show a decent growth at any moment. There was a significant drawdown, however the asset has returned to the buying zone. Our team detected a reversed Head and Shoulders pattern combining it with an oversold zone according to Stoch RSI and Aroon indicator we forecast a growth after the price reached suggested zone. Ichi cloud will soon become a strong support. Conclusion: The market is unstable nevertheless it is a good trade opportunity if you follow all recommendations and tactics: accurately follow buying zone, targets and stop loss zone. The signal was posted in the Premium channel an hour ago
Long
by Skyrexio
1
Possible Reverse Head & Shoulders on $XBT coming up???Looking at the daily chart for $XBT we may have yet another Reverse Head & Shoulders setup coming into play. If you look at the VPVR on the right side you can see the gaps in price that need to be filled in before we go to higher highs. This RH&S setup would be a nice smooth way to fill that in and push us into massive momentum! Side Note: On a larger scale I have outlined with a green trend line the potential for an even larger RH&S setup that would catapult us to new All Time High's! Don't know how viable this is but it sure looks pretty! ***That being said I am still waiting for momentum indicators, price and candles to confirm the smaller pattern. Right now this is all up in the air. We could completely ignore this setup and go straight to $12K+. Either way I wouldn't be mad! Have fun out there and be responsible traders!
BITMEX:BTCUSD.PLong
by codified_likeness_utility
1
OMISEGO BULLISH?OMGISEGO OMG/BTC Omisego looking bullish. - RSI @ 53, neutral but becoming oversold. - MACD trending well, last crossed on Feb. 6th, and continuing in new trend nicely. - Bollinger Bands have narrowed indicating a sideways trend may have formed for the time being. BUT they also seem to beginning to widen again, indicating another outbreak imminent, and with a current upwards price movement so far, the outbreak may very well be a bullish one. - Watch the Fib Retracement levels, if we can move upward past 0.5, expect further bullish movements. - Is continuing in recently formed upper price channel. - A beautiful reverse H&S seems to have completed, now awaiting outbreak. - Yellow lines forming ascending triangle. -Overall downward trend has reversed, but will trend reversal continue? That really all depends on what Bitcoin does.
by Vermillionz
5
POWR/BTC - Reverse head & shoulders + Symmetrical trianglePOWR/BTC is looking extremely bullish in my opinion in the 4h chart. The reason why I say this are the following: 1) The price has formed a reverse head and shoulders (since the end of November, shown in yellow), with the neckline at around 7500 satoshi, which is currently being tested). 2) There is a symmetrical triangle (shown in the chart) which appears to have been broken upwards. 3) The MACD is turning bullish (positive). 4) The CCI shows a strong move by exceeding 200 (which it already did a few days ago), and a weak retracement inside the -100 +100 bands. I have set a limit buy order at around 7200 satoshi (which is the 50% Fib. retracement measured from the ATH and the ATL). I also have set a stop limit order 8350, which is just above the previous local high of Dec. 21. My first target is 11700, and my second target is at 17400 satoshi. I fundamentally love the idea of trading electricity with peers behind Power Ledger, in a world that is evolving towards the use of renewable energy. For this reason, it is one of my long term investments: I will keep most of my POWR for the long run, but I'll sell parts of my stack in the run ups and buy the dips. This is not financial advice, this is just my opinion. Any comment is appreciated.
Long
by Andratos95