Inverse head and shoulder patterns are one of the most bullish reversal patterns in technical analysis - when they confirm. Until they confirm, they are actually a bearish pattern.
The neckline of the inverse head and shoulders (thick green line) is STRONG resistance until it is broken. If you look at the history of inverse head and shoulder patterns like this ...
As we see is forming inverted head and shoulders pattern with clear entry level, which is mareked with green line.
Ideally we would form another 4h higher low before the break to cool the RSI, if we dont be careful.
Another scenario is equilibrium pattern.
Either way I will keep you informed in the future.
Be prepared for everything (fakeouts) and use stop losses.
On the 12th of June, Expanse hit the low at 12.1k satoshis, after which price has consolidated for a little while and today finally broke above the descending channel, suggesting the potential corrective move up.
EXP/BTC clearly closed above the descending channel and the 50 Moving Average at the same time. Now the price is likely to continue moving higher ...
hello guys, new trade here, the idea is to short pound due to a series of fact: we're testing the 200 ma, and recently has been a clear resistance level, then CFTC COT is bearish on the pound with short sellers increasing their position for the 5th straight week, even the inverted hammer suggest reversal price action coming.
The bulls have successfully pushed through 6500 with easy. It was actually an ascending wedge (purple wedge with purple arrowed price objective) that broke out to the upside, which surprised me, I knew there was a possibility of that, however, they are most often a bearish continuation pattern, so I was holding my tongue for a moment with a higher expectation of ...
Going back for more, it's a bit early since it takes a bit for this stock to warm up, but when it does oh BB please!!! on a daily bullish on BB get some traders!
VEN is sitting just under 20 RSI on the daily. The chart is pretty bearish and there is no support until 9k satoshis. I believe that we will slowly trend up due to a buy the rumor sell the news event with the $BTC ETF. I place the horizontal resistance levels at 35k sats and 40k sats. This is where I would plan on placing my exits in this bounce.
Clearly Bitcoin's bears are having a crisis of confidence. Throughout this possible Inverted Head & Shoulders, they've been through a range of extreme emotions that have likely decimated their accounts. Head & Shoulders are distribution patterns that represent the distribution of control from bears to bulls or from bulls to bears. This inverted one has left the ...
Hope you are ready... Be ready to come back for updates..July is going to be a memorable month for cryptocurrency.
I am keeping this extremely short and void of details. I will explain as we engage in this glorious supernova reversal.
I have purposefully not posted Ethereum or Bitcoins updated charts for awhile now.. but have silently continued to model without ...
TenX Pay clearly trending downwards, while moving within the descending channel. Although recently price bounced off the lower trendline of the descending channel and went up from 7523 to 14785 satoshis, resulting in a 96% growth in just 3 days.
On a corrective wave down, PAY/BTC found the support at 76.4% Fibonacci retracement level, that is 9k satoshis area. So ...
On the 26th of June, Monaco coin has formed a strong bottom at 75k satoshis, after which price started to move up, resulting in a healthy 105% gain over the Bitcoin. MCO/BTC has reached the 154k satoshis high, after which a sharp correction down has begun.
The question is; how far Monaco would correct down, and whether it is only a correction or a trend reversal? ...
After a long downtrend $MU bottomed out and began a period of accumulation.
It looks like $MU is about to enter the mark up Phase E and start a new uptrend.
Besides the purely technical analysis, I want to point out that Micron Technology's business is a very cyclical one. About 60% of Micron Technology's revenue comes from DRAM, the rest comes from 'NAND'.The ...
On the 6th of November, DigiByte did hit the low at $0.022, where it rejected the 88.6% Fibonacci retracement level. Since then price price went down again, producing spikes below the previous low. However no clear break and close below has been established by DGB.
The interesting fact is that DGB/USD is once again tested this level yesterday, and it has been ...
OmiseGo continues to reject the uptrend trendline, with the most recent touch occurred just yesterday, when it hit $9.2. This is also an 88.6% Fibonacci retracement level of the previous wave up.
If price stays above that support, trend reversal could take place. An it is very interesting that the nearest strong resistance is seen only at $88 area, which is ...
Recently Internet Of People has reached the low, hitting 11122 satoshis low. At the same time price failed to close below the 261.8% Fibonacci support, applied to the corrective wave up after the uptrend trendline breakout.
Today IOP/BTC started to rise and aready gained 23% since it reached the low on the 24th of June. Therefore, while/if the support is holding ...
The Myriad has found the support at 73 satoshis, which is a very cheap price in relation to most coins out there. The support is confirmed by two Fibonacci retracement levels. Fist is 327.2% Fibs applied to the corrective wave up after the uptrend trendline breakout. And second is 78.6% retracement of the previous wave up.
Clearly the support has been rejected ...
On the 24th of June, Viberate hit the low at 1080 satoshis. This is the 127.2% Fibonacci retracement level applied to the previous corrective wave up. At the same time this is the area of the key psychological support, that is 1000 satoshis.
Technically speaking, it might be a very attractive price for buyers, which could result in a trend reversal or a ...
