Price broke & closed above 1.20000 daily resistance, I believe price will still head higher to complete the daily inverse head on shoulders pattern at 1.20800 resistance.. Bulls are in charge
Earnings beat by 33 or .02 released this morning, Inverted head and shoulders on daily within larger symmetrical triangle on weekly. measure rule implies a 2.91 or 38.7% increase to PT $12.3.
If initial target is reached, symmetrical triangle will break out very bullishly (far away from apex; measuring rule for this implies a $19.84 gain or 165%!
Inverse head and shoulders has formed since 14DEC on hourly, measuring rule implies 25.5% increase from breakout; however this is NOT a decisive breakout due to lack of volume and price not closing more than 2-3% of neckline. Keep close eye on pre-market. inital PT = 1.28, if it breaks decisively over 200 DMA then we could be in store for a much larger move...
Zcash is showing an inverse Head & Shoulders and is trying to clear a major resistance at $307.
Taking profit at $358 to be safe.
If there is upside, $320 is way too conservative.
Three falling peaks could win if price goes below 7.4k.. Bulls have to raise their volume to pass 7.8 without faking out.. Not an attractive trade for the bulls that got trapped several times this week Trying to bust through 8k psychological resistance..
Good Luck !!
$TRST with a possible IHS pattern on the 4h chart. If completed would break out of the long downtrend (red) to move to the fib resistance @4583. Watch for breakouts.
Is this the prerequisite of a bullish bitcoin Diamond Top??
I'm thinking all going well, enter at 7950 with target 8390 just before the super 3.618 fib of the first really bullish wave earlier this year..
Good Luck Players !!
It is the textbook target of the double bottom or inverse H&S. Bitcoin finds new decent volume breakout of Bullish Channel after another inverse H&S fractal.
Good Luck !!
