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Head-and-shoulder

Head and shoulder plus rising wedge: Probability for correction So there's a H&S-ish looking pattern going on here. However, I am not 100% sure, as this looks a bit distorted. Then there's also a rising wedge at the same time, which tells a higher probability for downside as well. But as the last times BTC just wonderfully ignored any TA, I am not sure myself this time. BTC maybe wants to make it look as if an imminent correction would occur, just to go berserk and pump to 12k. So, I am not trading this pattern here, just observing. The fearless among you could try to trade this pattern, by opening very slight shorts, with tight SL's at maximum 8450. Good luck and let's see what BTC is up to :)
BITSTAMP:BTCUSD
by SebastianofMoon
18
Update: Cardano Almost there (New Resistance & Support)We almost reached our IH&S Target of 1900 Sats Today. Target was reached way earlier then i expected. Which means there is more room for growth before ADA summit on 17th-18th april. If we Break 1900 sats in few days and close above it then we may go towards 2400. If BTC helps Ada may also reach 3k Sats very soon. Positive Signal: 50 EMA Crossing 200 EMA on daily chart. Negative Signal: Weekly and daily RSI|STOCH RSI Overbought. (It may stay Overbought for long period especially when bulls are in Control.) Retracement Level: Cardano have had very good last few weeks. It may retrace a bit which will be healthy correction. I am expecting a retrace towards 1700. If this level breaks, 1530 sats should hold. If you were around in last ADA Bull Cycle then you may have noticed that ADA just pumps and stays there for few days and pumps again. Last Bull cycle was from 300 sats to 9k sats and all this happened within 40 days of time. Good luck trading Ada.
Long
by Div_Trader
BTC: Possible inverted H&S in the makingBTC likes those head and shoulder patterns. Because traders like this pattern, especially the inverted head and shoulder type. However, we should remember how often this pattern has failed in the past months. So many times, there was an inverted H&S structure in the making, and many times, it failed. It looked as if it would burst through the neckline, just to fail in the last minute, and dump. We are finally approaching the interesting levels that I have been mentioning since weeks and weeks now. 1. The lower logarithmic downtrend resistance connecting the ATH and the 6500 level where the last big dump started. 2. The higher logarithmic downtrend resistance connecting the multiple smaller tops since early 2018, with the 6500 area. This is the stronger of the two. 3. At the area of the upper downtrend resistance (around 4900USD right now, in 1-2 weeks at 4700-4800USD), we also have the upper weekly BBand and the daily MA200. 4. The number of daily transactions is still far away from ATH: www.blockchain.com Therefore, if the inverted H&S fails, it will bounce off the lower resistance, the low will therefore also be lower, around 1800 USD. If the inverted H&S succeeds, we might see a nice rally to the upper resistance, as high as 4800 USD. But this resistance is ultra strong, and BTC is very overbought on weekly, volume still low, no capitulation has yet occured. Still too many weak hands in BTC, and too many people claiming 3200 has been the bottom. No despair yet! Also, the number of transactions, which I consider one of the strongest metrics for BTC, is still far away from ATH. All this leads me to believe, that in the best case, BTC reaches 4800, then dumps down to 2400 USD. I see these two scenarios unfold in the coming weeks. I see almost no chance (of course the chance is not 0%, but still quite low) for BTC going through both resistances, as sorry as I am. After that final shakeout, we should see a very strong weekly volume bar. Then the low could be confirmed and finally real reversal can start to happen. The momet of truth comes nearer and nearer :) Good luck!
BITSTAMP:BTCUSDShort
by SebastianofMoon
17
XRP continues bull run breaks key reistance triggers inv h&Swe can see XRP finally broke the resistance of the horizontal pink line. XRPLedger payments volume is really starting to boom as well on the xrpcharts on ripples website. Onward and upward we should hit the inv h&s breakout target within the next 1-3 1day candles is my estimation. Also greatly widening the gap and dominance over Ethereum and making big gains on btc at the same time. XRP is quickly becoming the standard. Once the XRPUSD pair finally gets its golden cross on the 1 day chart and sustains it then we are really gonna be taking off!
Long
by DrDovetail
1
H&S AND A BIG ALT FOMOFriends When I see the chart at 1 or 2 minutes, I examine the relationship between volume and price with a magnifying glass. What I observe is a predominance of bearish muscle strength over the bullish forces. I see it not only because of the red volumes bigger than the green ones (3 to 7 times more powerful), but I also see it because of the effort it takes for the green volumes to be able to go up in price at key moments. A lot of green volume for little price increase. That means that the bulls are holding back the price. At the same time and from a broader perspective, I see that just at this moment it seems that we are going down, the main ALTs have had incredible price increases creating a great FOMO. What I believe is that the bears' war booties will be all the FOMO of the ALTS (many exchanges do not have ALTS / U $ S stop lose, they only have stop loss ALT / BTC). The whales know it and there the trap to keep their money. I also see that the whales do not want to go to 12K because at those levels the sharks and dolphins (which are not now) come into play so that it would be more difficult for them to manipulate the market. Now the whales manipulate it because they are alone. My analysis is a mixture of indicators and psychology because we must not forget that TA is a human psychological game above all things. Only for educational purposes. If you are agree with my idea, give me a Like :)
Short
by sergio00
19
bearish brkdown of bear pennant; below Head & Shoulders necklinethe bear pennant did what probability expected it to do and finally broke down...as it did it has now dipped below the neckline of the head and shoulders. There is a chance on the new 4 our candle that one of our 4 support lines can break its fall and bounce it back above the neckline of the head and shoulder before this 4 hour candle closes to prevent it from triggering but there's also good odds that we may indeed trigger the head and shoulders. A solid support rebound zone would be the 4hr 50ma...potentially even the 4hr 200ma but more likely the 50ma....I shorted but put fractional buy backs at 7777, and 7641. there's still good odds we could dip further than that...however I see that the ascending trendline is now overlapping the eve pink curved trendline to create a double reinforced support so that could be a good rebound zone as well. I'm hoping we dip to the 50ma and then proceed to be bounced back above it before the 4hr close there by avoiding triggering the head and shoulders...if the head and shoudler is triggered and validated we could potentially dip below the eve trendline on a wick before rebounding but that doesnt necessarily invalidate the trendline instead it may just need to have its angle slightly readjusted since its currently a projection angle...changing the angle slightly of the eve could maintain all the previous candle touches it has while being able to encompass wherever the drop takes us as well..anyways for now we are short at least to the 200ma and probably the 50...and possibly even down to the eve trendline as I predicted a few ideas back that we would find our way back down to it after the bull impulse subsided. Best of luck out there this is only what I'm planning to do and not meant to be taken as financial advice...goodluck and thanks for reading.
BITFINEX:BTCUSDShort
by DrDovetail
1
BTCUSD H+S pattern, bearish div., 1 HR chartIf we look at this cart we see a couple of trends. Overall, we see an upward movement, to a peak around $4400. As we look at a volume indicator, the RSI, we notice the the very highest peak had lower volume than the peak before it, leading to what is called a bearish divergence, drawn by the red arrow over the bottom indicator. After this there was large volume sell off down to below 4000. This movement dropped below the MA 50 line. We now find a price hovering between MA 50 and MA 100. Looking on different charts, we see the bearish divergence on the 4HR chart, and the 1D chart. So we should expect the market to turn slightly. On the 1 hour chart, we start to see a head and shoulders formation, with this 3rd rise in price relating to the 2nd shoulder, after the head. The price went all the way down to the neck line, and rose back up again. With a bearish divergence already in place, this would seem to point to the possibility, that this 3rd rise could lead to a downtrend. If price reaches 3900, we must watch closely. 2 possibilities, the market could react and strong volume could prove resuming the bullish market (most likely). Or, the price does not bounce off this mark, which triggers a sell off. The amount of loss, will be the same amount of gain realized from the neck line to the top of the head *vertical arrow up" / vs the corresponding "vertical arrow down". Just a thought, the market has been unstoppable in the upward direction, and we might be in for a minor correction. Let me know your thoughts/ what you see!
BITFINEX:BTCUSDShort
by Shwayze