ETHUSD | Inverted H+S Forming? | Volume MiddlingDespite the formation appearing to be an inverted head and shoulders complex, I remain a little bearish on the short term with the prices struggling to get above 3930 consistently (let alone 3950+) and with the volume being so middling. Look for well above avg volume on breakout upon potential pattern completion. Keep in mind almost in uncharted waters so here there be dragons! Only put up what you can risk. Even if the patterns play out don't FOMO in. The volume for that last relative high was mostly FOMOing buyers (hence the LUS on the candle).
Possible near resistance pull-backs identified but we could go lower.
I am still long and believe we will see a break toward ATH sooner (next couple of days or so) or later (next couple of weeks). If not please see the other idea for musings as to price targets for long(er) entries. Could be as low as 3000-3200, but 3600-3800 more likely given recent falls to major supports.
This is not financial advice. This is my opinion.
Good luck.
IHS
iH&S on BTC 8H chart?BTC is now forming kinda inverse Head and Shoulder pattern on the 8H and 2H charts. If played out successfully we can see $45k mark probably after the weekend ends.
On other help hand $35k is acting as a support for now. If Bitcoin breaks it, then it'll be retesting the $30k-32k level shortly afterwards.
LONG QSP/BTC MACRO BOTTOMHere we have a huge IH&S on QSP/BTC. I have had a phenomenal success rate with this pattern. Currently at the range low, fantastic buy for a mid/long-term swing trade. Project looks to be good with some solid backings from reputable companies.
SNGLS/BTC Inverse Head and Shoulders accumulation range BREAKSNGLS BTC pair has broken out of it's long term IHS accumulation range spanning ~1007days before break out.
Measured move takes us to ~499sats ~556% profit potential. The possibility of a retest is not out of the question at this stage imo.
REP/BTC Inverse Head and Shoulders accumulation patternREP BTC pair is forming to break out of this long term Inverse Head and Shoulder accumulation pattern (IHS) ~1060days to date.
Looking for a measured move impulse target to ~5648sats (~572%)
QSP/BTC IHS Accumulation break out.QSP BTC pair appears to be painting an Inverse Head and Shoulders pattern on the HTF. ~970days to date looking for a breakout measured move of ~527% @ 1124sats.
IOST/BTC Inverse Head and ShouldersIOST BTC pair forming daily inverse head and shoulders off the Ichimoku Kumo cloud and 2 big buy signals before.
I'd expect it to complete the IHS, break out and push to the measured move of ~77%@66sats
RDN/BTC IHS/BARR bottom accumulationRDN looks ready to break out of this BARR bottom setup into a bigger inverse head and shoulders pattern on the weekly, then into an even bigger IHS on the daily. Nice bullish patterns!
Both IHS targets and both BARR targets are marked on the chart.
Potential return: ~1200%
BLZ/BTC IHS AccumulationBLZ/BTC pair is setting up for an Inverse head and shoulders reversal pattern on the weekly/daily chart.
It has already played a Bump and run bottom earlier and almost reached the first measured move, but still a good entry for the IHS trade.
Targets are marked for the ~900day IHS accumulation.
BLZ is setting up for an Inverse head and shoulders reversal pattern on the weekly/daily chart.
It has already played a Bump and run bottom earlier and almost reached the first measured move, but still a good entry for the IHS trade.
Targets are marked for the ~900day IHS accumulation.
Back to the pegVery good opportunity to buy ESD.
Although there are some issues with the coupon mechanism, the team is working hard on the V2 update.
Notice the inverted head and shoulders that is forming right now.