My Exhortation
A few more people are talking publicly about this inverted head and shoulders, which is good. The fact that it hasn't taken over some of the crytpto-verse is a bit unusual considering how recognizable the formation is and how quick ideas can get around these days. Please, do you own analysis and if you agree or disagree post an idea to get the conversation going. I have seen a lot of ideas or youtubers mention specific parts of it but few are talking about this big picture. I have been going on about it privately since early December and publicly since the week of Christmas. Generate some ideas. This should go around like the BARR bottom on BTCUSD in April 2019 so we can all make some money (not financial advice)
Analysis
A new addition to my posts on the inverted head and shoulders is including the 50 and 200 week SMAs onto the chart by using the cm_ultimate to get it on the daily chart. Price action initially stalled and pulled back after coming out of the falling wedge like a beast on pre-workout. We have finally seen price action pop above and now the question is how far will it run before it needs a retest of the 200 week, or will it even need a retest of the 200 week?
Some basic analysis of the VPVR has a low volume node between 0.44 and a high volume node around 0.0500. This LVN is where I would expect a quick movement and consolidation would happen at the HVN. I would expect this to be a relatively quick consolidation compared to the longer consolidation I expect to happen at the green area at the next low volume node. The green area is where we can no longer count on the inverted head and shoulders for target setting with some leeway for under and over performance.
Below is a wider view and what happened the last time there was a similar situation on ETHBTC. This time the 50 and 200 period SMAs match the chart on the 3 day which gives us a good intra-week view. I also like what I see on the Average True Range confirming that a low is in.
Timing-wise I don't know how long the price action will consolidate on top of the 200 week and I don't know how long we will be at this high volume nodes. What I do suspect is we will have a golden cross on the weekly in less time than it took us to have the death cross and then the valley on the 50 week SMA. Maybe six months.
Conclusion
This is a major move. I mentioned the BARR post that took over the crypto-verse in April 2019. My first linked idea was a reminder I did when the crypto-vese moved on and people forgot about the long term moves and they were back to the 4 hour chart. This inverted head and shoulders make still take over six months to reach target and you can get blow out either way with poor risk management. I myself didn't make anywhere as near as enough money as I could because I closed my longs too soon and that was a major lesson for me to see the bigger picture as I trade and invest. Letting your winners run is a very hard lesson to learn. You can have whatever strategy you want but my bias is toward ETH and other premier alts over bitcoin until this formation plays itself out.
A few more people are talking publicly about this inverted head and shoulders, which is good. The fact that it hasn't taken over some of the crytpto-verse is a bit unusual considering how recognizable the formation is and how quick ideas can get around these days. Please, do you own analysis and if you agree or disagree post an idea to get the conversation going. I have seen a lot of ideas or youtubers mention specific parts of it but few are talking about this big picture. I have been going on about it privately since early December and publicly since the week of Christmas. Generate some ideas. This should go around like the BARR bottom on BTCUSD in April 2019 so we can all make some money (not financial advice)
Analysis
A new addition to my posts on the inverted head and shoulders is including the 50 and 200 week SMAs onto the chart by using the cm_ultimate to get it on the daily chart. Price action initially stalled and pulled back after coming out of the falling wedge like a beast on pre-workout. We have finally seen price action pop above and now the question is how far will it run before it needs a retest of the 200 week, or will it even need a retest of the 200 week?
Some basic analysis of the VPVR has a low volume node between 0.44 and a high volume node around 0.0500. This LVN is where I would expect a quick movement and consolidation would happen at the HVN. I would expect this to be a relatively quick consolidation compared to the longer consolidation I expect to happen at the green area at the next low volume node. The green area is where we can no longer count on the inverted head and shoulders for target setting with some leeway for under and over performance.
Below is a wider view and what happened the last time there was a similar situation on ETHBTC. This time the 50 and 200 period SMAs match the chart on the 3 day which gives us a good intra-week view. I also like what I see on the Average True Range confirming that a low is in.
Timing-wise I don't know how long the price action will consolidate on top of the 200 week and I don't know how long we will be at this high volume nodes. What I do suspect is we will have a golden cross on the weekly in less time than it took us to have the death cross and then the valley on the 50 week SMA. Maybe six months.
Conclusion
This is a major move. I mentioned the BARR post that took over the crypto-verse in April 2019. My first linked idea was a reminder I did when the crypto-vese moved on and people forgot about the long term moves and they were back to the 4 hour chart. This inverted head and shoulders make still take over six months to reach target and you can get blow out either way with poor risk management. I myself didn't make anywhere as near as enough money as I could because I closed my longs too soon and that was a major lesson for me to see the bigger picture as I trade and invest. Letting your winners run is a very hard lesson to learn. You can have whatever strategy you want but my bias is toward ETH and other premier alts over bitcoin until this formation plays itself out.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
