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...
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 &...
Neckline sits at about 0.055 and at the moment, it looks like the right shoulder probably won't start to form until late August. Target-wise I think we'll see 0.1 again before the end of the year.
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...
NEO has printed what seems to be a clear Head & Shoulders pattern on the 4 Hourly - this is often characteristic of am imminent bearish scenario. However, for this to take place, NEO needs to break below the neckline to complete the H&S. The bearish case is for the projected neckline to coincide perfectly with the lower support level (in red) to complete a...
A nice bull surge has taken us to the neckline of the inverted head and shoulders pattern! We pierced it on the last candle..if we can close a couple candles above the neckline I'm fairly confident we will be revisiting the rimline of the inverted cup and handle pattern we broke down from last month. Breaking out from the inverted head and shoulder pattern will...
Watching for another dip to complete the right side of this Inverse Head and Shoulders pattern. Looks like just around $6,800 is our neckline. Could take a day or two for this pattern to play out. Watching for a break of the Neckline for a Long entry. A dip below our Head would invalidate this pattern.
on the weekly chart we can see in these 3 weeks price cannot break the support and make some rejection.
and on 4H chart we have bullish divergent and potentially make an inverted head and shoulders pattern as a reversal pattern.
entry strategy will be taken on smaller TF.
SL will be below the head
