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Inverse Head and Shoulders

BTCUSD → 4 setups that will make the buyer happy BITSTAMP:BTCUSD is showing confidence and chic dynamics in the market. On the global chart, the flagship is forming 4 key set-ups that say it is highly likely that the price will continue to strengthen. Let's break it down! The cup & handle, the bearish wedge, the head and shoulders, as well as the breakout of the strong resistance level 30261 after another retest. This set-up colaboration makes bitcoin fans happy enough :) On the daily chart, the price makes a retest of resistance 30575. After the false breakout on June 21, we did not see a decline. A pre-breakdown consolidation was formed, after which the flagship broke the level and at the moment the price consolidation is formed above this level, which may give us a good bullish signal. In the mid-term, there is a chance that the price will test the channel resistance quite quickly. It is also worth paying attention to the moving averages, which play the role of support, but at the same time the curves show the key boundaries that the price has previously overcome. Support levels: 30575, 30261, 30000 Resistance levels: 32196. 34000, upper limit of the channel I expect from the bulls a strong position above the level of 30000-30575. In the medium term bitcoin gives good signals, which can realize the idea of 34000-38000 Regards to R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
19
Bitcoin - Profit target for the next bull run + 32% crash soon! Of course, I am still bearish on Bitcoin, and we are going to hit 20,500 or 17,000 this year. But before it happens, we can go as high as 33,000 because there is a lot of liquidity to be taken. I started to be bearish around 30k a few months ago, and nothing changed in my outlook. But I think 6k and 10k are not possible anymore because Bitcoin proved its strength and the uptrend transformed from a corrective wave into an impulse wave, which is definitely something we cannot ignore in our next trades. A 32% or 40% crash later this year, most likely in September or October, is very possible, and I am expecting this scenario to happen. I prefer a bearish scenario over a bullish one this year, and I do not see any crazy pumps to 35k, 40k, or even higher. Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! Now the question is, How far can Bitcoin go in the next bullish cycle? My technical analysis shows around 100,000 USD. We have a huge ascending parallel channel on the LOG weekly scale that you can see on this chart. It has already had five touches, and it started in 2017. What's more, if we take the Fibonacci extension from the start of the previous bull market to the end of the previous bull market and to the end of the previous bear market, the 0.618 FIB extension is right at 104,000 USD. Seriously, please do not expect Bitcoin to hit 300k or 1 million in the next few years; the market cap would be insane if this happened. In the short term, I am pretty neutral because Bitcoin could reach 33K or also start a big crash. At this point, we need more confirmation, so I prefer to trade altcoins at this moment and wait for BTC. I trade over 200 futures pairs, and I have a lot of opportunities everywhere. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
by UnknownUnicorn2537518
180
BITCOIN UPDATE Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below. First of all, Wishing everyone a profitable and productive week! Today is Monday, and I have some information to share with you. 📰 Last week was nice, and yesterday we witnessed the highest weekly candle close of the year. This week will also mark the monthly close, which is expected to show significant growth. 📈 Since the beginning of the year, Bitcoin has been moving within an ascending channel, forming new HH's and HL's. The correction from $30k was highly predictable, and I have been mentioning it for the past two months. Now, I will share my outlook on future events, and this post will serve as an addition to my recent BTC 1D TF chart. 🔙 The 200MA and 200EMA have performed exceptionally well, and as I mentioned before, I anticipate further growth for BTC in the near future due to several reasons: 1️⃣ The sweep of the high at the $32k level ; 2️⃣ Liq. grab from the monthly FVG ; 3️⃣ The 3.618 level as the next Fib. target ; 4️⃣ The "Manipulation" stage according to PO3 ; 5️⃣ The fifth wave according to Elliot Wave theory ; 6️⃣ Additionally, there is a MACD Bullish Cross. 💡 Remember - Dips are for buying! In the near future, focus more on long positions rather than short ones ! 🔜 Further updates will be provided as new developments unfold !
Short
by bullstraders7
Simple Pattern Targets for NVidiaWe had a head and shoulders that made a 1.5x measured move down, where it created an inverted HS that saw a 1x measured move up to resistance. Sitting at resistance now, if we don't soon see a push through it, we could move back down towards the support area marked on the chart. As long as that support area holds (or the neckline below it), we should see a visit back to our previous ATH, possibly a double-top with a slightly higher or slightly lower high. However, if DXY continues to remain below 105ish, it could see a new ATH instead.
NASDAQ:NVDA
by dudebruhwhoa
Virgin Galactic - SPCE outlook showing signs of strengthLooking a the SPCE chart from a birds eye view it shows the company is overdue for a run. For months it's been trading sideways. It almost looks like it's break out of an inverse head and shoulders pattern. Until recently a spike caused by bullish news sending the stock from around 4.04 to 6.50. On the run up it rejected the 6.50 price and came back mid day to the 4.50 level. The Fixed range volume profile showed from 4.04 to 6.50 on the initial the point of control was shifted to 6.50 where most volume was traded at the top. It showed a new level of support based on the visible range volume profile after it was rejected in the 4.81 - 4.63 range which to me was a buy zone. Even if it drops a little bit im okay with the risk to reward ratio with calls out to July 7th. I wanted to get in it but I wasn't going to buy in at the top. The visible range volume profile showed me that most the volume came from these price levels. The fixed So I took the trade and look for a momentum run up in anticipation of the commercial flight between june 27th and june 30th. The blue horizontal lines represent my take profit levels with the first retesting the 6.50 level. If price moves agressive I'm looking for it to close gaps from the prior months. The closer to launch date I can see it running up because people don't want to miss the run and a lot of buying pressure should be coming in up to these dates. Not to mention there's another flight shortly after in July I believe if there are no delays. We will see how this plays out. My calls don't expire until July 7th after the first flight if there are no delays. Thanks for taking the time out to read this. Trade responsible, Jay #TradeTheWave
NYSE:SPCELong
by FinesseTheWave
AUD:SGD Inverse Head & shoulders, Macro long, +47% TargetMacro change in AUD vs SGD, golden pocket reacted nicely for a higher low & beginning of up move for the right shoulder of the inverse head and shoulder. There are 3 decent trades here: Inverse H&S, Algo and pitchfork reversion. looking for a pullback for an easy entry with tight stop but could also enter here for a decent R:R Key points: Reversion to the mean @ +22% - 7.3R with 80% probability as long as the pivot holds. target increases the longer it takes to hit. Algo target @ +22% - 7.3R Trade to the neckline @ +10% - 3.3R Inverse head and shoulders target @ +47% 15.3R Waiting for a retrace and local 0.618 enables tighter stops and a much better R:R The trade: Entry 1: here - 0.91949 Entry 2: after a local retrace, enter @ 0.168fib Entry 3 once inverse H&S has confirmed enter on the re-test of neckline Target 1: neckline ~ $1.02 Target 2: Algo $1.12621 Target 3: Inverse H&S $1.35258 Stop 1: 0.89144 - below local 0.65fib, move up until local high is established Stop 2: after breakout, monthly close below neckline - may give a better exit on a retest fro below neckline Risk management: position should risk no more than 2% of account balance for a drawdown. If given the opportunity with additional .618 retracements add to position & move stop to new .707. Take profit at targets and re enter on pullbacks. D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES. Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS. This is not financial advice. These are just my observations. Technical Analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Long
by TribeWriter666
BTC UPDATE! BUYING HERE WITH AN EASY INVALIDATION!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. After Powell's hawkish comment on the Fed Interest rate, BTC plummets below the FWB:25K level. As you see in the chart, this looks like a proper retest. After breaking out from the head and shoulder pattern in the higher time frame, currently it is retesting the neckline. If the price holds above this neckline then we might see the start of a new rally from here. Invalidation:- If this 2-D candle closes below this neckline ($24.8k) then this chart becomes invalidated. What do you think about this? Do you think that price holds here or do you think that it dumps more? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
Piedmont Lithium continuation of Bullish DivergenceHey Folks! This is an update to my Head and Shoulders bullish divergence idea. You can see the double bottom Stochastic RSI and continued price increase. Granted it's not the most bullish divergence, but the H&S pattern at this moment, is more likely to play out than not imo. It's not unusual for price to stray only to come back into the fold in a H&S. 10 avg volume has increased slightly after today. I don't pay much attention to analyst price forecasts, but in this case the targets are worth looking into and make technical sense to me. In fact I think they are modest. I'm looking for a 100% return if Piedmont can get their mining permits approved by North Carolina. If approved, PLL would become one of North America's largest sources of lithium for electric vehicle batteries for Tesla and others. This permit approval also adds an extra measure of risk to keep in mind. Also, there is a bearish case of a gap fill at $11.70 and there is a lot of liquidity in the mid 20's. I think this would be the result of a fundamental upset with the permit. Price broke March 31 resistance at $60.94 and looks to be retesting that zone. I will update this idea accordingly. Not financial advice. Happy Trading! OnePath
NASDAQ:PLL
by OnePath
SoFi Technologies Inverse Head and Shoulders Breakout ~$12 PTThe Inverse Head and Shoulders pattern is a classic technical analysis pattern that signals a reversal in trend from bearish to bullish. It is the exact opposite of the Head and Shoulders pattern which indicates a bearish trend reversal. Here's a detailed description of the Inverse Head and Shoulders pattern with key indicators: 1. Formation : This pattern is characterized by three consecutive troughs with the middle trough being the deepest (the "head") and the two outside troughs (the "shoulders") being shallower. Ideally, the two shoulders should be roughly the same distance from the head and there should be a noticeable downward trend in progress. 2. Neckline : The pattern is framed by a "neckline" drawn by connecting the high points of the two troughs. The neckline serves as the level of resistance that price must break through for the pattern to be considered complete. 3. Volume : Volume plays a crucial role in identifying this pattern. During the formation of the pattern, volume tends to be higher during the descent into the left shoulder, lower during the formation of the head, and increase again during the rise of the right shoulder. A noticeable increase in volume on the break above the neckline confirms the pattern. 4. Relative Strength Index (RSI) : The RSI is often used to confirm the pattern. The RSI, which ranges from 0 to 100, is a momentum oscillator that measures the speed and change of price movements. During the formation of the pattern, the RSI might become oversold (below 30) as the head forms and then start to rise as the right shoulder develops. A break above the neckline often coincides with the RSI climbing above 50, which is a bullish signal. 5. Duration : The formation of an Inverse Head and Shoulders pattern can take several weeks to several months. The longer the pattern takes to develop, the more significant the potential price reversal. 6. Conclusion and Breakout : The pattern is confirmed when the price breaks above the neckline, preferably on higher volume. After the breakout, the price may retest the neckline (now acting as a support level), before continuing its upward move. This is referred to as a "throwback". 7. Price Target : The projected price target is found by measuring the distance from the neckline to the bottom of the head. This distance is then projected upwards from the breakout point at the neckline to provide a price target. The Inverse Head and Shoulders pattern, while a powerful tool, is not foolproof. It should be used in conjunction with other technical indicators to validate and confirm signals, reducing the risk of false positives. Additionally, market fundamentals should not be overlooked while considering potential trades based on this pattern.
NASDAQ:SOFILong
by Diegolas_
2
DOGE - 81% crash is starting! (Sell all your coins, no time) If you haven't sold DOGE, you should do it as soon as possible because otherwise you will experience a critical 81% crash. But fortunately, I am here to protect your funds, and in this analysis, I will tell you why this crash is going to happen! First of all, we can clearly see that the price is moving in the descending parallel channel on the macro-weekly chart. The price is inside the channel, and we have a total of 5 touches. This is definitely a valid parallel channel on the LOG scale, and Doge remains in bearish mode. What's more, there is a bearish head and shoulders pattern, and the price is very near its neckline. You still have time to react, but the crash could be very steep and disgusting, so what you want to do is short Doge instead on the futures market if you want to make money on this coin. In April, Twitter changed its logo to the Doge coin logo. It was supposed to be bullish, so everyone was buying like crazy, but instead the price went down even below the starting bullish candle. It was clearly an April joke from the Twitter owners, and there was no plan to start a bull market. So why do they do that? Clearly, the investors that bought the news are at a loss, and an 81% crash is starting so... The bottom could be at 0.618 LOG FIB, but I think we are going to go even lower than that. But this is definitely a good level, so you can buy Doge at the FIB for a short-term bounce and make money. It's going to be a great trade. Make sure you do not forget about this upcoming trade with a 200% profit. I will, of course, notify you about it, so set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Overall, Doge is bearish, but I believe we will see a new all-time high, but it's not going to be soon. This coin is not going to zero, as it is valuable. We need more time so the whales can buy this coin at a cheap price! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
139
BASE - Inverted Head & ShouldersFor the past 3 weeks, BASE has seen higher volume (accumulation) leading it to break out of an inverted Head & Shoulders Formation (bullish) last week. With earning expected on 6th June, it is likey that it's earnings could be positive. However, whether the recent up move has already factored in a positive earning (and then "sell on news") remains to be seen. If it started to sell off on "news" after earnings is announced, it could present good entry opportunity to long if it remains supported above the 50% retracement of it's recent upswing AB. However, if it gaps up after earnings, then we need wait and see if it begins to consolidate before looking for signals to long (bullish patterns, divergence, fib support, gap close etc). This inverted H&S basing formation had formed over 12 months+ and looks to be credible for longer term upside, not to mention it is also now above it's 200 day MA (although it could be risky to long in the short term due to earning announcement risks). Let's see what happens after earnings and whether opportunity to long present itself after. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:BASE
by Juliac
HBAR Could Move into Weekly ResistanceHBAR could move into weekly resistance if it continues to hold the top of weekly support, if it crosses and remains above the yellow neckline shown on the chart above. If it doesn't just move up from here, it may move back down towards its previous low at the brighter green / stronger area of weekly support. If it does that first instead, I would expect a stronger move up than shown here. Keep an eye on DXY as it could affect things positively or negatively, long-term: Also, pay attention to HBAR's bitcoin pairing, it is also at the top of weekly support and in between that and its weekly resistance. It had a long wick down into weekly support so it could drop more, depending on how it moves against Bitcoin and what Bitcoin does:
BITTREX:HBARUSDLong
by dudebruhwhoa
XLMUSD 🔥 Breakout or Breakdown 🔥After hitting supply zone around 0.11 - 0.10 it started to decline up to the point that we are currently at a demand zone. From this zone I think 3 things could happen: We get a bounce off this level to continue the descending triangle pattern up until TARGET: 0.09 and then it could actually breakout from the entire triangle instead of declining again but we'll have to see how price reacts once it hits the triangle resistance. Price breaks down then the next target would the nearest demand zone at around: 0.07 - 0.08 so we'll see how this plays out. As always, manage risk accordingly. Never risk entire portfolio and study by yourself before you commit to an investment. Regards, Kina 🔥
by KinaStar
Either way - 37k or 13kTwo different ways to look at the present HSi pattern on Bitcoin, both targeting the same areas with slight divergence: - If it's the smaller dotted white line HSi, we're already near completion of a re-test, now. - If it's the larger solid blue line HSi, we could fall a bit more to complete a re-test. If either of these fail on re-test and then drop and hold below the right shoulder, targets for both lies in the area of 13k. If either succeed on re-test, the targets for both land in the area of 37k. --- If you like my ideas, please give it a thumbs up. If you don't or have an alternate opinion, please still share your thoughts in the comments. --- Thanks for reading!
INDEX:BTCUSD
by dudebruhwhoa
BTC unbeatable bullish chart patterns Hi dear community members and my loyal followers. I hope you are fine. I would like to bring your attention to this macro analysis with innumerable and beautiful bullish chart patterns. As you remember 6-8 months ago when BTC bottomed at 17.5K/a real bottom/ in June 2022 and 15.5K/spring/ in November 2022 with double bottom I publish a lot analyses and told you BTC bottomed and we are going to 28-30K. Back that time I published weekly Megaphone bullish chart pattern with 85K target/link below this analyis/, also I posted weekly falling wedge chart pattern with targets as well. Today I want to add 3 more chart patterns to those 2. BTC fromed daily bullish megaphone chart pattern, Inverse Head and shoulder chart pattern and reverse descending chart pattern. I'm bullish on BTC in 2023-2024 and expect min 48-52K in 2023 maybe 60-62K. BTW if you check all my previous analyses you we'll see how I nailed all major moves from 15.5K till now. If you ckeck my previous analyses you will understand besides these chart patterns what are other factors that make me think so and stay bullish. For short term as I posted in my previous analyses I don't expect BTC to drop below 25K, that is my worst case scenario, I even think BTC bottomed at 26.6K maybe could drop to 26K with wick taking out liquidity below 26.5K. I expect BTC to pump to 35-37K zone and fill weekly FVG. Below this analysis I will post targets for the above mentioned chart patterns. If you like my analyses don't forget to like, retweet, comment, follow me for further updates. I will appreciate any single like, comment and follow. Have a good day, I wish you good trades and huge profits.
BITSTAMP:BTCUSDLong
by ergal91
1
SPX: A Dangerous Signal Appears.• The SPX failed in breaking the resistance at 4,148, which is the neckline of an IH&S chart pattern; • If it loses the 21 ema, it might frustrate this pattern, and in this case, we would seek lower levels on the daily chart: • The index could hit its 21 ema next, if it keeps losing momentum on the 1h chart, while the main support is at 4,048; • The 4,048 is another neckline of a possible H&S chart pattern on the daily chart, and only if the index loses this key point it is going to really turn bearish. For now, pullbacks are plausible, especially if it does a top signal under the 4,148 on the 1h chart. Let’s keep our eyes open. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra
2
Bitcoin - 2 secret patterns, no one talks about! We have a head and shoulders (reversal pattern) and ascending parallel channel on the daily chart. Both of these patterns are bearish because there is a higher probability of a breakdown. There is a lot of empty space at the bottom of the parallel channel, and I feel like we need to go down to fill up the price action. It can be a great idea to long bitcoin at the bottom of the channel because there is also a POC of the previous expanding triangle and the 0.618 FIB retracement of the previous wave. What's more, the 200-day moving average could act as support as well. This MA is used by huge hedge funds, banks, and professional traders. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. If Bitcoin fails to hold the top of wave A, which is at 25250, then it will be a disaster for the price of Bitcoin, and most likely we are going to go to 15k. In my opinion, it's going to happen. Volume is totally dead. During the last wave, the bullish volume was almost invisible. There was no interest from the bulls to buy BTC on the spot market. This is indeed a positive sign for the bears to short Bitcoin. The majority is absolutely bullish, and if you want proof, check out my previous analysis in the related section down below. You need to read all the comments on this analysis so you can see all the opinions from people and NPCs. If we take a look at the RSI indicator, we can spot a bearish divergence between the last 2 peaks. It looks like the bearish divergence has already been confirmed. At least I see it. I am bearish on Bitcoin, and I expect lower prices. Gold almost reached a new all-time high, while Bitcoin is struggling, but no worries, a halving is coming in 1 year, and that will be bullish. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
133