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Inverse Head and Shoulders

Atomusd at the goldencross starting lineIn a very similar inverse head and shoulders that digibyte jsut successfully broke out of with the same kind of little right shoulder. For now there’s been no confirmation of a breakout or even solidified support on the neckline just yet so price could easily dip back below the neckline here, however considering the golden cross has occurred it wouldn’t surprise me if the neckline is confirmed solidified support n quick order. *not financial advce*
COINBASE:ATOMUSD
by DrDovetail
Digibyte looks like it’s validating the invh&s breakoutDigibyte shown here on the daily chart showing a nice bullish impulse firmly above the neckline of its inverse head and shoulders pattern. Already well on the way to the breakout target here so very likely validating the breakout. Also doing so a day or so before it has its golden cross. Once it reaches the full breakout target it’s likely to test the next potential resistance of the yellow horizontal trendline. That trendline is actually the neckline of a larger double bottom pattern. Wouldn’t be surprised with the golden cross so close by that whatever resistance that double bottom neckline provides doesn’t last very long *not financiala dvice*
CAPITALCOM:DGBUSD
by DrDovetail
Qnt forming right shoulder on invh&s while retsting channel ttl I’m hoping the right shoulder quant is now forming here by retracing after reaching that top purple horizontal line, will be a very short shoulder with help from it’s recent golden cross and hopefully the support from the top trendline of the yellow channel that quant just recently broke above. Usually a right shoulder would last for a much longer period of time than I have drawn this one to last in order to be ore proportional with the left shoulder(not shown here), however loopring and a few other charts recently have had very small asymmetric right shoulders on the inverse head and shoulders patterns that their price broke upward from so that may also be the case for quant’s right shoulder as well. We will see soon enough, if Quant is to follow suit with the rest of the altcoin market it’s recent golden cross should give it the bullish momentum it needs to complete this right shoulder as a very small shoulder indeed.
COINBASE:QNTUSD
by DrDovetail
If Link corrects long enough here a new inv h&s will be in playCurrently after yesterday’s fantastic green pump candle on Link, the new daily candle s currently red as link takes a quick breather. Now this could only last a very short time but if t lasts for a few daily candles, that will be enough to qualify the current correction as a right shoulder to what will then be this newly formed inverse head and shoulders pattern. If it starts pumping again on the current daily candle and goes above the neckline and keeps continuing up we can disregard this as of now strictly hypothetical & speculative inverse head and shoulders pattern, but while there’s still a chance I thought it would be fun to post this chart and draw a rather arbitrary curve for the length of a potential right shoulder. Link has already broken out of a Bull flag on the higher timeframe charts (which I will post a link of below) and that flag has a target of around $55 so odds are good whether this potential new inverse head and shoulders pattern comes to be valid or not that we will still end up hitting its breakout target of $47.18 on our way up to reach the $55 target of the macro bullflag, if we are lucky though link will correct and for a right shoulder here though and then I will be able to enter a position a little lower than this to get the opportunity for even higher percentage gains once it reaches the full target of both this pattern and the macro bull flag’s full target at $55. *not financial advice*
COINBASE:LINKUSD
by DrDovetail
Root network nearing golden cross as it completes right shoulderHere we see Root network should have a golden cross in a few days and is currently correcting a slight bit which is in the process forming a right shoulder to this inverse head and shoulders pattern. Fro this level alone, were Root network to hit the inverse head and shoulders breakout target it would be a 103% gain or so, however odds are good it dips a slight bit more for the lowest portion of the right shoulder which will simply mean even larger gains fro the lowest depths of the right shoulder. *not financial advice*
CRYPTO:ROOTUSD
by DrDovetail
Speculative inverse head & shoulders opportunity on renderRender just had a big spike and then corrected back down to the breakout target of the previous triangle pattern it broke up from (which I will link to below). In doing this, render has created the opportunity to form a right shoulder now to a potential inverse head and shoulders pattern, as long as it stays below the top of todays candle’s top wick for the next few daily candles. If so, it then gives us a new price target we can look forward to heading towards once it breaks out of that pattern of around $20. For now this is speculative, for if render just resumes pumping and heads past the recent daily candle high the inverse head and shoulders pattern will no longer be in play *not financial advice*
COINBASE:RNDRUSD
by DrDovetail
CRV potentially breaking above a Double bottom neckline hereCurve like any other altcoins has responding very parabolically to its goldencross. It has now gone above a potential double bottom neckline, however, as much as it has pumped recently I would not be surprised to see it correct back down below this neckline for a bit. If it does that it may form another neckline slightly higher for a potential inverse head and shoulders pattern. If it does just continue up fro here instead then the target shown on the above chart is the ost probable one to expect. *not financial advice*
COINBASE:CRVUSD
by DrDovetail
Apecoin chart per request.I’m not entirely sure how this chart will play out, currently looks like this chart’s price action is heading towards this brown trendline that will either serve as a double bottom neckline or if it holds resistance for a candle or few t will become the top trendline of a valid descending channel at that point, either way the target would be the same for a breakout from either pattern, won’t be able to dial in the exact placement of the dotted goldenrod colored measured move line until price chooses where it’s going to trigger the breakout but I believe I have arbitrarily placed it in a close enough radius to get a within the ballpark of a decent price target guesstimation. Once again we see a big bullish pump coinciding with the golden cross as well. *not financial advice*
COINBASE:APEUSD
by DrDovetail
Hypothetical inverse head&shoulders pattern will materialize…. . .-if- Polygon decides to correct here for even a few days we will officially start forming a right shoulder and then we get the benefit of having an even higher target than the current $1.06 target we are heading towards for the falling wedge breakout. There is also 2 double botto breakouts and a channel breakout on the horizon too just above those 2 targets so it should create a bunch of bullish momentum as all these overlapping bullish patterns start falling like a domino effect. Of course if Polygon instead chooses to continue pumping towards the $1.06target without correcting for a day or few then the inverse head and shoulders will not materialize. *not financial advice*
COINBASE:MATICUSD
by DrDovetail
3
Hypothetical inverse head&shoulders pattern will materialize…-if- Polygon decides to correct here for even a few days we will officially start forming a right shoulder and then we get the benefit of having an even higher target than the current $1.06 target we are heading towards for the falling wedge breakout. There is also 2 double botto breakouts and a channel breakout on the horizon too just above those 2 targets so it should create a bunch of bullish momentum as all these overlapping bullish patterns start falling like a domino effect. Of course if Polygon instead chooses to continue pumping towards the $1.06target without correcting for a day or few then the inverse head and shoulders will not materialize. *not financial advice*
COINBASE:MATICUSD
by DrDovetail
XVG going parabolic upon 1day golden crossYet another shining example of apparently hall all boats rise thanks to the golden cross. Right when golden cross occurred Verge goes parabolic. It has now broken confidently above this inverse head and shoulders pattern and still would make 54% gains from its current spot to hit the full breakout target of the inverse head and shoulders pattern. Though Verge has long been considered a dead coin, I do recall talk that it may possibly one of the few cryptos that is currently ISO20022 compliant right now so that is indeed an advantage it has going for it right now. Possibly not so dead afterall, but this could also be a case of “All boats rise” with the current parabolic market conditions. Also wanna give a proper shoutout to my friend Saeid for believing in this one. Saeid focuses more on elliot waves and harmonic chart patterns and is a solid analyst himself, and he believed in XVGs potential to do something lke this much mroe than I did. *not financial advice*
CRYPTO:XVGUSD
by DrDovetail
1
Quant’s big green candle today coincides w/ its goldencrossJust like so may other alt coins around the market, Quant exploded upward on the day of its golden cross as well. There’s a slight chance t could pull back from here in which cae then it could possibly form a right shoulder of a potential inverse head and shoulders and give people a chance to enter in lower before the next leg up, or it could just keep pumping right through this current tan colored resistance line and continue up to the purple neckline of it’s massive double bottom pattern. Ether way whenever it flips that purple line to solidified support,the breakout target can send Quant all the way back up to its old all time high, likely making a new all time high in the process. Looking forward to seeing where this one goes. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
HBAR responding bullishly to its goldencross just like Algorand We can see here how Hbar is immediately responding to its golden cross and finally breaking above the inverse head and shoulder pattern it’s been consolidating in right at the moment of the golden cross. Here is the algorand goldencross for comparison: Countless other charts have had this same reaction since the parabolic phase of the bull run and I wouldn’t be surprised if it continues. *not financial advice*
BINANCE:HBARUSD
by DrDovetail
Plenty of upside left in HBARUSD even after massive 55% pump HBAR had a huge breakout today and shot way past the breakout target of the previous patter it had ust broken upward from. In doing so Price action is getting very close to completing the right shoulder of a much bigger inverse head and shoulders patter here. Should it trigger the breakout of this attern we ca see that the measured move target for it would be over 120% gains from where price currently is if it were to reach the full target. It may take it a second consolidating just below , or back &forth a little above and below the neckline of this pattern before it triggers the breakout since it just had such a massive pump, however it could just maintain the current momentum and plow right through that neckline without stopping for much of a rest. The most import support to watch for at the moment is the weekly 200ma(in blue) as long as it can flip that 200ma to solidified support then odds are good it will confirm the breakout from this invh&s pattern to too many candles after that. Also considering the total2 chart looks like it will confirm the long awaited breakout from its cup and handle patter soon, that increases the probability that this new bigger invh&s on HBAR wll be confirming its breakout too sooner rather than later. *not financial advice*
BINANCE:HBARUSD
by DrDovetail
1
Current price retracement on xrpusd is creating right shoulderWe can see the current price retracement on xrpusd is starting to form the right shoulder of an inverse head and shoulders pattern.This means that once price bounces and gets firmly above 95 cents or so then maintains that level as support it could trigger a breakout from this inverse head and shoulders pattern. At that point the target would be around $1.55-$1.60 and if we can get tot hat level and maintain that level as strong support thats when the real fireworks can start to begin. Could take multiple weeks for this right shoulder to find its bottom and head back towards the neckline, but hopefully sooner rather than later. *not financial advice*
CAPITALCOM:XRPUSD
by DrDovetail