BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC BITCOIN Is overdue for a large run.

The inverse head and shoulders appears to be completing.

Look for the breakout on volume at $9,180.

Target Price: $11,800 (initial)

RSI: "overbought", but you'll find in a bull market the rules on RSI tend to point to "overbought" being a potential buy signal for traders that can afford to Hold.

Target Gain: 28.5%

Please throw me a follow and a like if my work has helped out.

I will respond to dm's, comments and questions. Please comment your thoughts even if adversarial. I'm always open to different points of view. It's possible another Trader catches important facts that I miss.

Much Appreciation



That's not H&S
+1 Reply
arlisjohnson3 ViktorChaulet
@ViktorChaulet, This pattern is identified when the price action of an asset meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.

I see three troughs that meet this criteria al9ng with a common resistance.
arlisjohnson3 arlisjohnson3
@arlisjohnson3, this definition was taken from investors fyi
arlisjohnson3 arlisjohnson3
@arlisjohnson3, investopedia*
I've ran this chart by several seasoned traders and they all agree this is an inverserse head and shoulders while one expert trader advised me that he would quantify this as an adam and eve coupled with the February 5th low. @Nodeinvestor who is one of the most respected T.A. analyst also agrees. Please see his post here:
eugeneBarnard arlisjohnson3
@arlisjohnson3, Node Investor's pattern is a good prediction, not the same as yours however, the entire point of TA is to predict to decent accuracy where a break out will occur (and when NOT to invest), your prediction was around the 27th of April, his is only in May with a complete head pattern, i'm not trying to give you hard time just some honest constructive criticism, your second chart looks a lot better with a more accurate trend line and actual point where one can enter, had i followed your first chart and bought its apparent break i would now be in the negative and losing money.

arlisjohnson3 eugeneBarnard
@eugeneBarnard, TA is not to predict when a breakout will occur lol. It is in fact to provide entry an exit points UPON breakout. I'm guessing your just another troll, but if not, it's important to know not to enter trades by trying to predict the breakout, and not to enter trades UNTIL AFTER the breakout occurs. Thanks.
I'm sorry.. but no, not disagreeing with your prediction but pattern recognition is delicate, this is wrong, thanks anyways
arlisjohnson3 eugeneBarnard
@eugeneBarnard, I'll have to respectfully disagree. You haven't provided any reasoning or education. I've researched much higher level Analysts take on this and they seem to agree with my perspective. See links below as a small example. The principal in most classical charting patterns is the same, look for the breakout point with the common resistance. So whether this be a perfect H&S or not, the target upon confirmed breakout remains the same. If you have constructive reasoning, please provide, otherwise we will defer to these experts: Here's another analysts view. Node Investor's take;
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