Well the .1.14500 Crucial support was surely broken last week with a strong bearish candle evident on the weekly chart, thus completing the head and shoulders pattern in the process!. Well so as the classic rule of head and shoulders would say " enter short or long when the price retests the neckline of the completed pattern". This statement holds true to some ...
Price retesting resistant area and potentially to make one more downside.
this is give us an opportunity to sell.
RSI also shown bearish divergent.
We can put SL slightly above 61.8 level or when price break trendline
Price retesting support level once more. and now looks trying to up again.
on the smaller timeframe we can see price complete double bottom and break trendline.
we can take a buy entry based on this setup
https://www.tradingview.com/x/yDVMiN2g/
Head & shoulders pattern forming on Bitcoin.
There is a demand zone shaded in blue that is acting as the last support. I'm expecting this to break, and break well with volume. A sloping neckline always performs better!
Volume is also decreasing on the right shoulder. All signs of a downward breakout.
Target is the green line, stops above red line once the ...
Haven't posted a BTC chart in a while. It's been quite the ride so far and expect the bullish momentum to continue.
The last few days has seen Bitcoin retrace and consolidate. The selling pressure has not been extreme and likely to be profit taking only. With that said, buying on dips is a good strategy for now.
On the 1 hour chart, a possible inverted head & ...
The price needs to break the neckline (as indicated in the markup). Once that neckline is broken, we should see a nice move up. Keep in mind that once the neckline is broken, the move up will be fast due to short covering.
AUDUSD tested top of the consolidation triangle, pulled back to .618.. than retested the neckline of the top. now heading to the bottom of the triangle. this is a second opportunity to short this pair. if the top of the triangle has been missed. there is a inside bar forming on 1H time frame if we need further confirmation, we can wait next 15min, at the time of ...
It looks like we are going to see some bullish momentum over the coming weeks for this pair, it seems like the price has touched the support level and lost most of its pushing momentum. This shows that the price is not looking strong enough to break through this critical support level, if this support level holds then this would mean the price is going to move up ...
Just my opinion, but with both the 4hr charts rsi and stochrsi well exhausted and well into the overbought zone and the 1 day chart's indicators now just reaching overbought conditions, I don't think we will be able to sustain an immediate breakout of the inverted head and shoulder pattern and a small correction is due to reset these indicator levels before a ...
Looking at the 1 day chart we see a very promising sign here that the higher low/higher high bull pattern might continue. We need the price action to climb to 6850 or so to form a new higher high on the 1 day chart before the next significant breakdown happens. If so odds are food the following down trend will only form a higher low on the 1 day chart which will ...
Following through from the chart on the 6th. Would like to see consolidation today before another test of our latest high. RSI levels very high at the moment.
It looks like the inverted head and shoulders pattern is still forming, if this pattern is able to fully form it is very likely the price of bitcoin would start to rise and we could see the price test the resistance level of the triangle (A). We will have to wait and see if the price reaches the low of the previous shoulder and is able to bounce, if the price ...
The head and shoulders pattern looks like it would form once again. We have saw a double bottom form at the support level and the price has broken the neckline of the double bottom and looks like the price is now retesting the broken neckline, if this broken resistance now acts as a support level its a great position to enter a long trade. If the price starts to ...
As I had said an idea or so ago we will likely fake a breakout once or twice to reset rsi and stochrsi levels before w have enough momentum to break above the neckline of the inverted head & shoulders pattern. What was once looking like your average bull flag has morphed into a sort of small falling broadening wedge and now are 4hr stoch rsi is ready to go up ...
