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IHS

Bitcoin and the long awaited IHSWelcome fellow Tradingviewers, Bitcoin has made a huge correction since our last breakdown. We have had succes with longing from the 6800 area and shorting from the 10.4 area. Currently we are in no position and we are approaching our long awaited Buy zones. Since our first update of the huge Inverse head and shoulders which could be found on the weekly we have been keeping our eye on it. When we managed to close a weekly above 9600 this seemed less likely to happen, except that we are now back in the forming of the right shoulder as it seems. Thuis can not be found on the weekly, but we have now shifted our vision on the daily. Without further or due, lets start analysing. We will be analysing BTC using a top-down strategy, including candlestick patterns, indicators and price patterns. Monthly: - Our candle is closing in a day and 12 hours, this candlefollows up the huge bullish engulfing candle that we had last month - MACD is very narrow, indicating indecisiveness. - RSI is still in Neutral - We can see that we clearly touched the 10.4 resistance Weekly: - This weekly candle is closing as a huge bearish engulfing, indicating more downside momentum. - We are now touching the weekly 50 MA again, closing above would indicate more upside momentum. - MACD is still in bullish territory, indicating more upside. - RSI is still in neutral Daily : - The last daily candle managed to close above the 200 daily ma, indicating upside momentum. - We are approaching the 100 MA which could provide (short term) support. - The current candle is looking like a bearish engulfing, indicating downside momentum. - MACD has crossed bearish, indicating downside momentum. - The RSI is still in neutral. In summary: We still have more room for downside momentum, but the overall picture is still looking pretty, we will be looking at long opportunities at the stated zones. Looking at the shorter timeframes to target our entries. This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like ! If you want to share your thoughts, please do so in the comments below! Kind Regards, FORALLCRYPTO
BITFINEX:BTCUSDLong
by ForAllCrypto
4
Aphria - Inverse Head & Shoulders to Watch on WeeklyI'm a big fan of weekly time frame analysis, the larger time frame offers in my opinion greater strength behind any pattern- bearish or bull. I'm watching for an inverse head and shoulders to form, with the near term 7.35 resistance converting into support and offering a leg up into 9.10 A break of the 9.10 neckline will offer further upside, however I do not anticipate this will break on the first attempt rather pullback into 7.35 area confirming it as support and finally painting the inverse head & shoulders pattern everyone will be watching. I'm just watching for the potential formation a few weeks in advance. Disclosure, I do hold an existing long position in Aphria (APHA)
ALong
by tomthetrader1
MUST SEE!!! 4 BULLISH Patterns at the Same Time!!!Hi friends, please smash the Like button! This is an update to my last BTC post on December 22 of my early prediction of an Inverse Head and Shoulder forming, long before it became the pattern everyone is charting and making YouTube videos of today. Needless to say, the right shoulder has formed! Not only that, but we also now have an ascending triangle, and a broadening wedge. All of this inside a descending channel! That is four bullish patterns at one time: Inverse Head & Shoulders Ascending Triangle Broadening Wedge Descending Channel We still need confirmation with successful breakouts of resistance lines, but, based on these bullish patterns nearing their confirmation lines, I am long, with a current target at $8500. Thank you! *** I AM NOT A FINANCIAL ADVISER. THIS IS NOT FINANCIAL ADVICE. FOR ALL YOU KNOW, I COULD BE A MANIAC IN A PUBLIC LIBRARY MAKING CRAZY TALK! AS ALWAYS, DO NOT BLINDLY FOLLOW PEOPLE. AND, ALWAYS, DO. YOUR. OWN. RESEARCH.***
BITSTAMP:BTCUSDLong
by UnknownUnicorn2239932
11
BTCUSD | Found support and finished IHSThe most representative timeframe to show results of the most recent technical analysis is 4H chart. Possible further Bitcoin's price action is quite positive let's prove it using 1 month scale. Starting on 26th of October when Bitcoin's price was pumped to $10 584 we can define Fibonacci retracement levels which represent major resistance and support levels. As usual a natural corrective movement pushed the price to Fib 0.5 support level at $8 970 with a resistance of Fib 0.236 around $9 823. The momentum was so low that price managed to touch the resistance only twice thus the most price action occurred around support level which was a great sign of upcoming break down and start of a down trend. Two weeks later forecasted downtrend started on the 8th of November and lasted till the 21th of November with a sharp drop to $6 736. The most important is that price action broke down Fib 1 level this indicates Bitcoin starts to find support and should create an ascending channel with a supportive edge which is displayed at the chart. Such channel was found on the 25th of November and soon it became clear that Bitcoin is in a very bullish mood. Price action formed Inverse Head and Shoulders pattern on the downtrend which leads to global trend shift. Today was a very important day because upper edge of the triangle met mentioned lower supportive edge at a local resistance level of $7 636 which was successfully broke upward! Summing up, Bitcoin's price have no resistance until Fib 0.786 at $8 046 while momentum power grow. There are now bearish hidden divergence according to price oscillator and the price is above EMA 20 and 50. Thus the resistance should be broken, while the price action is going to consolidate above $8 000 level. We forecast a moderate grow until $8 900 with natural corrections
BITMEX:BTCUSD.PLong
by Skyrexio
#headandshoulders - How to use it, and how not!Good morning, from my side (cause I do see it happening again and again), a little reminder of how Head & Shoulders is looking like and how you should draw it. Too often misused and misunderstood, I don´t wonder why most of the trader´s or technical analyst youngsters are not successfull trying to trade this. The same rules apply to an inverted Head & Shoulders. It always was and will always stay a reversal pattern formation and using it differently (wrong) is weakening breakouts and targets. I hope you enjoy this and leave me a like. ______________________________________ Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
11
#bitcoin - Another make it or die?This inverted Head and Shoulder looks weak, even though we got a right shoulder, the volume doesn't look perfect. I am keeping my hands still right now, the Monthly Pivot needs to be broken first until this pattern can play out nicely. I am not sure this will happen. With this probably being declined, the 8k Yearly Pivot comes back into my game. Above Monthly Pivot I´ll swap to longs. _____________________________________________________________________________ No financial advice. NeruSuite v5 - advanced technical analytics tool. #dyor
BITMEX:BTCUSD.P
by Gl4diator
1
#bitcoin - inverted HS potential still presentI am going to watch this until the price tells me something different. Totally undecided right now. Keep focus guys and don´t force yourself into trades based on assumptions and gut-feelings. H4 did a very good job recently, also H1, so I prefer staying here right now. Keep an eye on the monthly Pivot. This pattern is still in the make and the volume profile is actually not a very good fit, so .... stay safe. _______________________________________________________________ No financial advice. NeruSuite v5 - advanced technical analytics tool. #dyor
BITMEX:BTCUSD.P
by Gl4diator
1
#bitcoin - critical areaWe are certainly in a critical area, where we could see another turn down and then hoping for an inverted H&S building out as reversal pattern. We are just approaching the potential neckline(s), starting from different previous prices. So far Bitcoin does not look as if it wants to build out an iHS. Let´s see what the next hours bring and then make a couple of plans. Too early right now, as my re-entry zone is not before just after $11k anyways. _______________________________________________________________ No financial advice. NeruSuite v5 - advanced technical analytics tool. #dyor
BITMEX:BTCUSD.P
by Gl4diator
2
TWTR Complex Inverse Head & Shoulders in the making?This jumped out at me when viewing the weekly chart : The formation is similar to some variant of a complex IH&S. The head would be the floor at $13.73 and the neckline is the top blue line, downward sloping from $54 to its current price at about $45. If the pattern is legitimate and Twitter broke above it, the measured move would be toward the $80 region. Aggressive traders may be able to find a long entry on a shorter timescale, but there is resistance from the downsloping black and blue lines.
NYSE:TWTRLong
by docfresh
2
Potential Double Top at $13,400-14,400 by Sunday Monthly CloseHi everyone! Before we get started, take a second to hit the like and follow button to get updates on this chart! This is a short-term action plan with finally some good action in the past few hours on Bitcoin. We are heading towards the Monthly and Weekly close this Sunday on Bitcoin and we should always be prepared for both eventualities. Bull scenario: (higher possibility) The IH&S green bullish pattern would send us to retest $13,400-14,400 by Sunday for a double top before dropping back down to test $11,000. The action around $11,000 will be very important as it is the long-term bull neckline from June. Bear scenario: The green IH&S would fail and we would sell off Saturday through Sunday close lower and lower below $11,000 as we get pushed by the resistance of the descending triangle. This would be the bearish continuation of our purple fractal down to $10,000-9,000 and eventually $8,700-7,600 that we published yesterday
BITSTAMP:BTCUSD
by BitcoinGuru
6