DGD- Right shoulder forming? End of Uptrend? Waiting for Handle.Hi. I just saw this and stopped my trade. this may be a SHS forming. It would make sense since we ended up to a level to form a perfect bowl in the daily. Or will it be a cup? It's still possible that the bowl is not finished, though. But I think we will first go direction 41000 anyway.
SHS
Reversion PatternWell, a head shoulder head pattern,maybe a double floor,maybe just a correction but BTC is not a short.
Plus+:Segwit,Litepay (IKR but u know),Bitpay...
BTC Shorttime SHS Bearish Trend new ATL Bitcoin BearThere is an opportunity to buy all cryptos for a lower price then the last weeks, maybe not ETC but all other.
In the BTC Coinbase 45 min view is a Shoulder Head Shoulder Pattern , yesterday evening i saw this SHS at the purple resistance line, but wasn´t sure if there is maybe a higher high, but wasnt.
Let us see what happening.
CAC shooort! sHs patternINDEX:CAC
Not much to say, but its time for a light short, with a tight stop. And wait for the goodbye kiss so we can resell, and another short when the sHs limit breakout.
Nzd Cad ShortWe have a well respected s/r zone here which was tested 3times from above before breaking
Now we just saw the first test from underneath on the daily Timeframe.
The interesting part is that price is forming a SHS formation right under this s/r zone while the Head already retested it .
Such a formation on a location like this is a great sign that we may see a change in direction again.
Again we have 2 possibilitys for this set up
1) a break of the SHS neckline + Trendline break ( 3Touches showing us the TL is confirmed) to the downside open us a opportunity to go short here
2) invalidation of the pattern by breaking the s/r zone to the upside which would force us to overthink the whole scenario and look for a clue to go long here for example a pullback to the Trendline + s/r zone again but for now we will focus on presence not on what could be in future
Aud Nzd SHS the question is can we break through the neckline and close below it ?!
If yes we have a nice short trade here with a lot of space to the downside.
What i also like for a short is the 200 sma lines up with the neckline and in case of a break i see this as an double confirmation.
On the other hand a long scenario is also possible.
We already see a bullish daily candle as an reaction to the support last friday .
eur nzd short after neckline break -We see a pretty nice SHS formation while price is breaking through the neckline support
-the rising Trendline is already broken this indicates a possible shift in direction
-we also have a falling rsi divergence giving us some more confirmation
patience is the key so as long as price didnt break the neckline there is no need to do anything
a new higher high will invalid the set up and we have to revaluate the situation again
Daddy Bitcoin is nervous! My thoughts, correlation and stuff. Hey guys,
everyone is concerned about Bitcoin being a bubble which is about to burst the entire Cryptomarket.
What we see is a neutral market on its way to decide which path we choose to go and how we deal with that "bubble".
There is one important fact we need to mention before we talk about a "Crash" if Bitcoin drops under the green Nackline of the first S/H/S-Pattern we`ve created after this crazy rally caused by the drop down to 5.500,- USD.
This consolidation seems to be crazy due the fact that we`ve never seen such a strong volatility in any market out there.
In Fiat, a drop from 20.000,- down to 12800,- (7.200) seems like an enormous fall from down the Mount Everest. But if you take a look at the growth in % this retracement is and will be still a joke if we get through that strong support which has been tested by the market for almost 18 times.
At 61,8% buyers safed Bitcoin and caused Fakeouts through this important zone. So what we basically see is still the greed by market players who missed the milktrain and still see`s potential in Bitcoin.
We still have a lot of problems with Bitcoin due transaction-time, fees, and efficients. A long time could pass by until we get working solutions like "Lightning network" that could fix those issues.
1. What is the market going to do? Hold, wait and hope?
2. Try to find alternatives? (Traditional market is freaking out)
3. Drop until 8000,- USD and consolidate?
There is one !BIG PROBLEM! I see related to this stupid correlation we have in the cryptomarket refusing to give us nice alternatives to Bitcoin.
1. Bitcoin climbs -> Alt falls
2. Bitcoin drops -> Alt falls
3. Bitcoin consolidates -> Alt climbs
Statement:
If Daddy Bitcoin is calm and relaxed he allows his kids to play.
How can we explain that correlation? Let me share my thoughts.
Statement 1: Bitcoin climbs
Since Bitcoin is the "oldtimer" of the cryptoworld, daddys grwoth was almost ridiculous. Bitcoins hype caused by the media and those "Bitcoin millionars" promoting strategies and promises on the internet baites verdant privat investor. I`ve been talking to ppl in my neighbourhood who`ve never heared about "ALTCOINS" but got Bitcoins instead.
Bitcoin is THE most important base currency to buy Altcoins. So, if the market is invested in Altcoins it means they were seeling BTC for ALT. If Bitcoin starts to climb, people see the potential of big stupid "forecasted" and pushed Goals like "60.000,-" - "100.000,-" until the end of the year.
Result = Sell ALT, BUY BTC.
Statement 2: Bitcoin drops
We were talking about Bitcoin being the daddy of the cryptoworld and BTC as the important base or primary currency of the cryptomarket.
Logically the Altcoin-market should grow when Bitcoin falls, due the fact that they SELL BTC and buy ALTs, right?
What I see is that the market defines "Daddy Bitcoin" as the entire Cryptomarket. Means, if Bitcoin drops -> The entire market is dead, because his kids are not big enough yet to stand on their own feet.
Bitcoin Drops -> Doubt in Cryptomarket -> Exchangen BTC and ALTs into Fiat.
Statement 3.
If daddy Bitcoin is relaxed going outside sitting on a bench reading his Newspaper he lets his Kids "abusing" the playground.
Market players see that Bitcoin is stable but not lucrative in a phase of a sideway trend.
So they use this chance to increase the amount of BTC in their wallets and trade ALTcoins instead as long as the rally takes a break. They see the potential in ALTs and wanna raise more money.
Sell BTC -> Buy ALTS
BTC Drops -> New Buyers in BTC
Isn`t that risky AF? Am I wrong? Please explain this correlation if it`s wrong.
I guess there is wway mroe facts we need to include into this analyse like miners, news etc.
But wht I see is a lot of panic, greed and inexperienced traders out there.
Which path to we choose for daddy?
Back to stockmarket?
Peace and good trades
EUR/USD possible long...invert head & shoulderThe SHS short did not perform as planned... but maybe it will very soon as a little up now could result in EUR going down for quite some time, but who knows... Looking at the SHS in the begining of 2017 there was also an extra low after the SHS before the long run up... so maybe more down...
However this is posted just to show that there is a posibility that an IHS is forming for a new up-trend - watch your money with short SL if you trade this...
EUR / NZD possible Head & Shoulder on 4h - SHORTInspired by others here on this site - this will be my trade if I choose to take it
Retracement to neckline, short SL to minimize risk. Let's see if it plays this way
LONG: Awaiting confirmation of SHSAwaiting confirmation of Head & Shoulder - hopeing to go LONG around 1,68100
Again a close SL to minimize possible loss and a large upside.
CAD/JPYExpect to see a confirmation of SHS at this level - tight SL to ensure this is a confirmation. Little risk large potential
GBPCAD SHS-Formation will be confirmation of daily 5-0 I spotted a potential 5-0 on daily base and was looking for a good entry. then I found this Head and shoulders formation
Usd Nok Ugly invert SHS not every SHS pattern looks like textbook
so check out this ugly friend of a SHS at Usd Nok..you can clearly spot a transition in price movement
waiting for a neckbreak n close to long this pair
Eur Sgd SHS keep ya eyes open for a neckline break of that SHS pattern..if we see a nice break n close there is no reason why you shouldnt enter short
Ardor a truly bullish graphArdor build up a huge Shoulder-head-shoulder pattern in its graph. But this bearish pattern did not result in a further sell off.
Instead Ardor had a bounce on the neckline and then it did fell through a little, when it fell through price reached a new low, but the RSI-indicator did not, it made a higher low, this bullish pattern is known as: Bullish divergence. From that moment on both price and RSI have formed an ascending triangle. Another bullish pattern. Yesterday Ardor left both triangles (as to be expected) on the upside and perfectly reached the target that the triangle gave us (see both green vertical arrows).
Trading plan: either wait for Ardor to backtest the neckline or to overcome the first target (green Arrow), next target would be the top of the right shoulder (around 0.00006), but there propably is a whole lot more potential!
Counterparty: bounce incoming!Counterparty has started to bounce off a horizontal supportline, that has been visited 4 times now on the daily candles. One could argue that this graph is also showing "the lately so often seen failed shoulder-head-shoulder" pattern that I was reffering to in my Zcash idea (www.tradingview.com), but I am not liking the shape of this one (especially the shape of the head).
The previous three support-touches (on the green horizontal line) resulted in a lower RSI reading (3 red ovals). But the latest touch has given us a higher RSI-reading (green line in RSI), so we have some bullish divergence. I expect the bounce to go towards 0.004 region, with maybe some hesitation around 0.0032 area (two red horizontal resistance areas).
GBPJPY: Short aiming for 200 pipsOk, this is an easy setup. Now why am i shorting right now right here. Because i am also looking at other GBP pairs, and they are all looking very heavy.
Especially GbpChf also made a nice SHS pattern and broke lower. I'm looking there for a small bounce to short it too.
Blessings to you.
Edit: I'm sorry while typing it fell almost 30 pips, i could not post it earlier, but there is still a good chance for a move above 150 before falling.
IOTA switch from short to long!We had a great run with our Iota short idea () but now it is time to switch to longs.
A supportline (green) which started mid july has pushed Iota out of the downward channel (green oval).. to add to its merit a same supportline is present within the RSI-indicator.
There is a little danger of a shoulder-head-shoulder forming (red curves). But the right shoulder isn't there yet, also shoulders are quite small relative too the head, so even if the right shoulder forms (which happens if the mid-july supportline gets touched in the coming days) it is questionable if it results in a drop below the supportline.
Expect Iota to charge horizontal resistance at 0.00016 and if succeful 0.00019 / 20 area will be targeted.
