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Inverse Head and Shoulders

Inverse H/S on BTC with weakening sell pressure? Bottom close?We've tagged our 39.6k level nicely for a potential inverse h/s. RSI is seeing a cross on the 4h and we have a td9 on the 4h, so chances of movement up here in the short term is quite good. Also this sell spike has really solidified the bullish divergence we've been seeing on the sell pressure side: as the price increases the sell pressure has decreased, while buy pressure started picking up. Very interesting as this usually points to sell pressure weakening. This is why our short term sentiment is now neutral rather than bearish. If we get a bounce here we want to watch 42k as the next point of interest. it's our volume point of control since the start of the year, has a lot of historical movement and as we all know 42 is the answer to the ultimate question. Failure to hold this level - we move to 38k as our next point of interest. But as stated above - we're getting to heavy reversal territory on BTC.
by cryptosince1963
2
BTCUSDT is creating an inverse head and shouldersBTCUSDT: The price got a rejection from the weekly resistance on the 46k as I said on the previous analysis. On the daily timeframe (the upper one) the price is creating an inverse head and shoulders and its neckline is the 46k key level. On the 4h timeframe (the lower one) we can see a Pennant pattern, and the price is testing the static support on 0.5 - 0.618 Fibonacci level. Usually, when the price is in the accumulation phase below an important structure we will see a new breakout. How to approach? We are monitoring the market and will wait for a reaction on the 0.618 Fibonacci level (43k). we could see a deep retracement until the lower trendline. If the price is going to lose the dynamic support the next valid support is 40k. IF the price is going to have a breakout from the pennant and a CLEAR breakout from 46k, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
5
BTC:USD Target 5th wave target: $145kI don't usually disregard wicks but wave 2 was a black swan so in this rare case I'll make an exception. When you measure the 1st wave; the bodies of the weekly candles end perfectly in the high probability zone (golden pocket). If you project from the same place the wave 3 ends in the High probability zone for a 3rd (1.618 - 1.75). Wave 4 has hit the high probability zone (0.236 - 0.382) & is hinting at completion. Looking for a sensible wave 5 target; If you project the length of wave 1 from the end of wave 4 you get a target of around $149k. Other signs of strength include failure to make the median line & either of the 1:1 targets for the WXY correction. Key Points: Ignoring black swan wicks- High Probability zones reached for wave 2, 3 & 4 There is still a chance that wave 4 could turn into a triangle Risk of rejection on the daily EMAs Inverse Head & shoulders trade setting up Wave 4 appears to have failed to make the median line- a failure to hit the median line sets up a move equal to of greater than the move that preceded it The trade: Entry 1: 4h 244 EMA has now been tested from above. Can enter around here or wait for the 144 , 169, & 244 to cross bullish. Stop 1: Break and close below the 4h 244 EMA Entry 2: Inverse Head & Shoulders, enter on the breakout and retest of the neckline. Stop 2: Break and close back below the neckline Target: Head & shoulders: $63,300 Target: Failure to make median line: $69,000 Target: 5th wave: $149,000 Inverse Head & shoulders + EMAs Fib levels for wave 2 and 3 D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES. Never Trust. Verify. DO NOT TRUST THIS 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. These analysis take a considerable amount of time, consequently, I'm not taking any analysis requests. Please respect my time and don't ask; because I dislike having to reject you!
Long
by TribeWriter666
9
LTCUSDT is testing the 4h resistance The market had an important bounce on the Monthly key level and it created an ascending channel The price is testing the 4h resistance right now after the market created an inverse head and shoulders on the daily timeframe. How to approach? If the price is going to have a breakout from the 4h and weekly resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
6
BTCUSDT Inverse Head & ShoulderInverse head & shoulder is about to form in BTCUSDT. Overall Scenario is looking good in BTC, rather than any uncomfortable global scenario will change it. Possible a new all-time high is waiting for us. Weekly is also looking bullish. 42k zone is acting as good support, the break down of this support zone turns sentiments down & the inverse head & shoulder get invalid. 46k zone is strong resistance, breakthrough above this area leads BTC to higher valuses. Note:- Only a technical Analysis.
Long
by tradetaservice
ETH: USD Inverse head & shoulders, Target: $4,900Earlier in this cycle these were one of my favorite setups.. The win rate was ridiculous. Looking for a breakout and retest of the neckline. Should coincide with the 244 EMA SR flip on the daily. The Trade: Long: Entry: On the breakout and retest of the neckline Stop: 4h close back below the neckline Target: length of the head projected from the neckline. (Currently around $4900, +53%) D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES. Never Trust. Verify. DO NOT TRUST THIS 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. These analysis take a considerable amount of time, consequently, I'm not taking any analysis requests. Please respect my time and don't ask; because I dislike having to reject you
COINBASE:ETHUSDLong
by TribeWriter666