Hive is Buzzin - Trailing BTCThe stock runs hand in hand with bitcoin. It makes sense for it to keep going up being that the company stated they produced 259 BTC in the month of june.
New 52 week high loading? If it can avoid a double top.
Inverse Head and Shoulders
Nice inverse head and shoulder pattern with bullish divi.I'm expecting it to play out similar to PLTR, but I think this one has better looking oscillators, strong bullish divergence. I don't know much about the fundamentals, but the company looks like they're on the right track. I think it will take roughly 6 weeks to play out, applying a proportional move like we saw begin the week of May 10th.
Unity. Inverse Head and Shoulder forming. + Bullish divergenceHey folks,
Another Inverse Head and Shoulder pattern with bullish divergence. My favorite pattern to trade, especially on these longer time frames. I am also noticing micro h and s patterns within in the smaller time frames on various stocks.
Besides the lackluster market response to its AI features, U hasn't had a whole lot going on fundamentally, noteworthy at least, but I'm picking up on the metaverse trend building steam again. This one is a great metaverse play.
I'll lock in profit accordingly. Around $42, $58, $65 and save some for all mighty $100 liquidity zone. I think mid July could see some nice action.
Happy trading!
OnePath
COIN Inverse Head and ShouldersCoinbase is breaking up and out of an inverse head and shoulders pattern as the crypto platform benefits from a rising Bitcoin price and news that Blackrock has chosen COIN as the custodian for the Bitcoin that they will have to acquire if their Bitcoin ETF is approved by the SEC.
Blackrock BTC ETF filing ignites price rally:
www.nasdaq.com
Blackrock ETF approval rating is 575-1:
www.ccn.com
Coinbase will be Blackrock BTC custodian:
www.cnbc.com
Opened a trade in COIN this morning at $79.21; stop loss is at $67, take profit is at $136.
Possible break outAs I mentioned before Canadian dollar is gaining strength. It was punished enough by the market and now is coming back. I have a large long position here I think is going to break out. The inverted HS (not confirmed yet) on the weekly timeframe looks promising.
TRADE ALERT - LONG ETHEREUMTraders,
We have what appears to be an inverse H&S pattern playing out. The right shoulder still has not completely formed, so this is admittedly an early entry and more risky. But with Bitcoin holding it's supports nicely for over a week among other positive indicators, I'll take my chances here.
I bought at the 50 day ma for $1,837. The R/R is 3.37. Final shorter term target is at least 2313.70 (there is a much higher target for that Adam & Eve or some see a C&H pattern) at which point I may only sell half. Of course, I'll be raising my stops along the way. My SL will be some short distance below the 200 day ma.
Best,
Stew
📈 4 BULLISH PATTERNS YOU NEED TO KNOW📌How to easily identify these patterns?
🟢Cup and Handle Pattern
The cup and handle pattern is a bullish continuation pattern that typically occurs after a significant uptrend. It is characterized by a U-shaped "cup" followed by a smaller consolidation known as the "handle." The cup portion represents a temporary pause or correction in the price, forming a rounded bottom. This signifies that selling pressure has diminished, and buyers are stepping in. After the cup formation, the handle is formed as a slight downward drift in price, usually in the form of a small consolidation or a shallow retracement. The handle represents a final consolidation before the resumption of the bullish move. The handle should be relatively smaller in size and have a downward-sloping price action.
🟢Double Bottom
The double bottom pattern is a bullish reversal pattern that signifies a potential trend reversal from bearish to bullish. It consists of two consecutive lows that are approximately at the same level, forming a support level. The first low represents a selling climax or a period of intense selling pressure. After the first low, the price rebounds and retraces to form a temporary high, creating a potential resistance level. However, buyers step in again, pushing the price back up, resulting in a second low that matches or is very close to the level of the first low. This double bottom formation indicates a significant level of support where buying interest outweighs selling pressure.
🟢 Bullish Flag
The bullish flag pattern is a continuation pattern that occurs after a strong upward move in price. It is characterized by a brief period of consolidation, where the price forms a narrow and rectangular range, resembling a flagpole and a flag. The flag portion of the pattern is typically slanted in the opposite direction of the initial price move. The flagpole represents the initial strong upward move, indicating a surge in buying interest. Following the flagpole, the price enters a consolidation phase, represented by the flag. This consolidation allows the price to stabilize and absorb selling pressure. The flag pattern should have parallel trendlines that contain the price action.
🟢Inverse Head and Shoulders
The inverse head and shoulders pattern is a bullish reversal pattern that indicates a potential shift from a bearish to a bullish trend. It consists of three consecutive lows, with the middle low (the head) being lower than the two outer lows (the shoulders). The pattern resembles a head between two shoulders. The left shoulder forms as the price declines, followed by a subsequent rally to create a temporary high. The price then retraces, forming the head, which is lower than both the left and right shoulders. After the head, the price rallies again to form the right shoulder, which is usually slightly higher than the left shoulder.
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GBPCAD - Inverse head and shoulders pattern forming?Analysis:
Price last week managed to put in a new higher high showing us that we're in an upwards trend meaning that we only want to be going long on this pair. At this level we saw that price held as support if we look left so we expect that it will hold again. Now for this particular setup we don't have any fib levels which we usual look for but we do instead have another pattern, an inverse head and shoulders pattern. This is a bullish chart pattern which is often followed by a bullish move after the second shoulder is formed which is what we expect and this second shoulder lines up with our support level. To add further to this level of support we have a previous downwards trendline that was broken and now is being retested for support. We expect that buyers will set here and will want to hold this level making it a good buying opportunity. Taking a look at the fundamentals we have the GBP which is the 3rd strongest major currency compared to the CAD which is the 2nd weakest major currency so this is already going in our favour, but we get even more confluence as we dig deeper. As of the most recent report for institutional positioning on the CAD we saw an increase in both long and short positions so this is pretty neutral but this isn't the same story for the GBP. As of the most recent report on the GBP for institutional positioning we saw an increase in long positions and a decrease in short positions showing the strength of the GBP and we expect that this will continue. Overall the technicals and the fundamentals are pointing to bullishness on this pair which is why we have our long bias on GBPCAD.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
1st of 3 ltc targets hit!The $90 target from the smallest inv h&s (with the cyan neckline) has just been hit! We now have 2 more left to hit. And in hitting the tallest one it will take us up above the magenta trendline which will put into play an even higher possible target…until that happens we will not include that 4th potential target on the chart but probability is starting to favor that 4th target. As always when one target gets hit a retrace is very possible..we can already see a bit of a wick has formed..hard to say how much of a retrace will occur before it continues towards the second target though *not financial advice*
LTCUSD has formed a higher 2nd inv h&s necklineWhich of course adds a second even higher breakout target than the 1st one. It just recently retested the line as support and has been bouncing up from the retest which is what I’ve been waiting for to ensure the neckline was a legitimate one. It’s breakout target is the green one. At $106 *not financial advice*
BTCUSD → 4 setups that will make the buyer happy BITSTAMP:BTCUSD is showing confidence and chic dynamics in the market. On the global chart, the flagship is forming 4 key set-ups that say it is highly likely that the price will continue to strengthen. Let's break it down!
The cup & handle, the bearish wedge, the head and shoulders, as well as the breakout of the strong resistance level 30261 after another retest. This set-up colaboration makes bitcoin fans happy enough :)
On the daily chart, the price makes a retest of resistance 30575. After the false breakout on June 21, we did not see a decline. A pre-breakdown consolidation was formed, after which the flagship broke the level and at the moment the price consolidation is formed above this level, which may give us a good bullish signal.
In the mid-term, there is a chance that the price will test the channel resistance quite quickly.
It is also worth paying attention to the moving averages, which play the role of support, but at the same time the curves show the key boundaries that the price has previously overcome.
Support levels: 30575, 30261, 30000
Resistance levels: 32196. 34000, upper limit of the channel
I expect from the bulls a strong position above the level of 30000-30575. In the medium term bitcoin gives good signals, which can realize the idea of 34000-38000
Regards to R. Linda!
Bitcoin - Profit target for the next bull run + 32% crash soon!
Of course, I am still bearish on Bitcoin, and we are going to hit 20,500 or 17,000 this year. But before it happens, we can go as high as 33,000 because there is a lot of liquidity to be taken.
I started to be bearish around 30k a few months ago, and nothing changed in my outlook. But I think 6k and 10k are not possible anymore because Bitcoin proved its strength and the uptrend transformed from a corrective wave into an impulse wave, which is definitely something we cannot ignore in our next trades.
A 32% or 40% crash later this year, most likely in September or October, is very possible, and I am expecting this scenario to happen. I prefer a bearish scenario over a bullish one this year, and I do not see any crazy pumps to 35k, 40k, or even higher.
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Now the question is, How far can Bitcoin go in the next bullish cycle? My technical analysis shows around 100,000 USD. We have a huge ascending parallel channel on the LOG weekly scale that you can see on this chart. It has already had five touches, and it started in 2017. What's more, if we take the Fibonacci extension from the start of the previous bull market to the end of the previous bull market and to the end of the previous bear market, the 0.618 FIB extension is right at 104,000 USD.
Seriously, please do not expect Bitcoin to hit 300k or 1 million in the next few years; the market cap would be insane if this happened.
In the short term, I am pretty neutral because Bitcoin could reach 33K or also start a big crash. At this point, we need more confirmation, so I prefer to trade altcoins at this moment and wait for BTC. I trade over 200 futures pairs, and I have a lot of opportunities everywhere.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
BITCOIN UPDATE Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
First of all, Wishing everyone a profitable and productive week! Today is Monday, and I have some information to share with you. 📰
Last week was nice, and yesterday we witnessed the highest weekly candle close of the year. This week will also mark the monthly close, which is expected to show significant growth. 📈
Since the beginning of the year, Bitcoin has been moving within an ascending channel, forming new HH's and HL's. The correction from $30k was highly predictable, and I have been mentioning it for the past two months. Now, I will share my outlook on future events, and this post will serve as an addition to my recent BTC 1D TF chart. 🔙
The 200MA and 200EMA have performed exceptionally well, and as I mentioned before, I anticipate further growth for BTC in the near future due to several reasons:
1️⃣ The sweep of the high at the $32k level ;
2️⃣ Liq. grab from the monthly FVG ;
3️⃣ The 3.618 level as the next Fib. target ;
4️⃣ The "Manipulation" stage according to PO3 ;
5️⃣ The fifth wave according to Elliot Wave theory ;
6️⃣ Additionally, there is a MACD Bullish Cross.
💡 Remember - Dips are for buying! In the near future, focus more on long positions rather than short ones !
🔜 Further updates will be provided as new developments unfold !
Simple Pattern Targets for NVidiaWe had a head and shoulders that made a 1.5x measured move down, where it created an inverted HS that saw a 1x measured move up to resistance.
Sitting at resistance now, if we don't soon see a push through it, we could move back down towards the support area marked on the chart.
As long as that support area holds (or the neckline below it), we should see a visit back to our previous ATH, possibly a double-top with a slightly higher or slightly lower high.
However, if DXY continues to remain below 105ish, it could see a new ATH instead.
Virgin Galactic - SPCE outlook showing signs of strengthLooking a the SPCE chart from a birds eye view it shows the company is overdue for a run. For months it's been trading sideways. It almost looks like it's break out of an inverse head and shoulders pattern. Until recently a spike caused by bullish news sending the stock from around 4.04 to 6.50.
On the run up it rejected the 6.50 price and came back mid day to the 4.50 level. The Fixed range volume profile showed from 4.04 to 6.50 on the initial the point of control was shifted to 6.50 where most volume was traded at the top. It showed a new level of support based on the visible range volume profile after it was rejected in the 4.81 - 4.63 range which to me was a buy zone. Even if it drops a little bit im okay with the risk to reward ratio with calls out to July 7th.
I wanted to get in it but I wasn't going to buy in at the top. The visible range volume profile showed me that most the volume came from these price levels. The fixed So I took the trade and look for a momentum run up in anticipation of the commercial flight between june 27th and june 30th.
The blue horizontal lines represent my take profit levels with the first retesting the 6.50 level. If price moves agressive I'm looking for it to close gaps from the prior months. The closer to launch date I can see it running up because people don't want to miss the run and a lot of buying pressure should be coming in up to these dates. Not to mention there's another flight shortly after in July I believe if there are no delays.
We will see how this plays out. My calls don't expire until July 7th after the first flight if there are no delays.
Thanks for taking the time out to read this.
Trade responsible,
Jay
#TradeTheWave
Possible 4-hrs Inverse Head And ShouldersThis 4-hrs Inverse Head And Shoulders is playing out as predicted. Nice Move
AUD:SGD Inverse Head & shoulders, Macro long, +47% TargetMacro change in AUD vs SGD, golden pocket reacted nicely for a higher low & beginning of up move for the right shoulder of the inverse head and shoulder. There are 3 decent trades here: Inverse H&S, Algo and pitchfork reversion. looking for a pullback for an easy entry with tight stop but could also enter here for a decent R:R
Key points:
Reversion to the mean @ +22% - 7.3R with 80% probability as long as the pivot holds. target increases the longer it takes to hit.
Algo target @ +22% - 7.3R
Trade to the neckline @ +10% - 3.3R
Inverse head and shoulders target @ +47% 15.3R
Waiting for a retrace and local 0.618 enables tighter stops and a much better R:R
The trade:
Entry 1: here - 0.91949
Entry 2: after a local retrace, enter @ 0.168fib
Entry 3 once inverse H&S has confirmed enter on the re-test of neckline
Target 1: neckline ~ $1.02
Target 2: Algo $1.12621
Target 3: Inverse H&S $1.35258
Stop 1: 0.89144 - below local 0.65fib, move up until local high is established
Stop 2: after breakout, monthly close below neckline - may give a better exit on a retest fro below neckline
Risk management: position should risk no more than 2% of account balance for a drawdown.
If given the opportunity with additional .618 retracements add to position & move stop to new .707. Take profit at targets and re enter on pullbacks.
D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES.
Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS.
This is not financial advice. These are just my observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
BTC UPDATE! BUYING HERE WITH AN EASY INVALIDATION!!Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this quick BTC update.
After Powell's hawkish comment on the Fed Interest rate, BTC plummets below the FWB:25K level. As you see in the chart, this looks like a proper retest. After breaking out from the head and shoulder pattern in the higher time frame, currently it is retesting the neckline. If the price holds above this neckline then we might see the start of a new rally from here.
Invalidation:- If this 2-D candle closes below this neckline ($24.8k) then this chart becomes invalidated.
What do you think about this?
Do you think that price holds here or do you think that it dumps more?
Share your views in the comment section.
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Thank You!
Piedmont Lithium continuation of Bullish DivergenceHey Folks!
This is an update to my Head and Shoulders bullish divergence idea.
You can see the double bottom Stochastic RSI and continued price increase. Granted it's not the most bullish divergence, but the H&S pattern at this moment, is more likely to play out than not imo. It's not unusual for price to stray only to come back into the fold in a H&S.
10 avg volume has increased slightly after today.
I don't pay much attention to analyst price forecasts, but in this case the targets are worth looking into and make technical sense to me. In fact I think they are modest.
I'm looking for a 100% return if Piedmont can get their mining permits approved by North Carolina. If approved, PLL would become one of North America's largest sources of lithium for electric vehicle batteries for Tesla and others.
This permit approval also adds an extra measure of risk to keep in mind. Also, there is a bearish case of a gap fill at $11.70 and there is a lot of liquidity in the mid 20's. I think this would be the result of a fundamental upset with the permit.
Price broke March 31 resistance at $60.94 and looks to be retesting that zone. I will update this idea accordingly.
Not financial advice.
Happy Trading!
OnePath
SoFi Technologies Inverse Head and Shoulders Breakout ~$12 PTThe Inverse Head and Shoulders pattern is a classic technical analysis pattern that signals a reversal in trend from bearish to bullish. It is the exact opposite of the Head and Shoulders pattern which indicates a bearish trend reversal.
Here's a detailed description of the Inverse Head and Shoulders pattern with key indicators:
1. Formation : This pattern is characterized by three consecutive troughs with the middle trough being the deepest (the "head") and the two outside troughs (the "shoulders") being shallower. Ideally, the two shoulders should be roughly the same distance from the head and there should be a noticeable downward trend in progress.
2. Neckline : The pattern is framed by a "neckline" drawn by connecting the high points of the two troughs. The neckline serves as the level of resistance that price must break through for the pattern to be considered complete.
3. Volume : Volume plays a crucial role in identifying this pattern. During the formation of the pattern, volume tends to be higher during the descent into the left shoulder, lower during the formation of the head, and increase again during the rise of the right shoulder. A noticeable increase in volume on the break above the neckline confirms the pattern.
4. Relative Strength Index (RSI) : The RSI is often used to confirm the pattern. The RSI, which ranges from 0 to 100, is a momentum oscillator that measures the speed and change of price movements. During the formation of the pattern, the RSI might become oversold (below 30) as the head forms and then start to rise as the right shoulder develops. A break above the neckline often coincides with the RSI climbing above 50, which is a bullish signal.
5. Duration : The formation of an Inverse Head and Shoulders pattern can take several weeks to several months. The longer the pattern takes to develop, the more significant the potential price reversal.
6. Conclusion and Breakout : The pattern is confirmed when the price breaks above the neckline, preferably on higher volume. After the breakout, the price may retest the neckline (now acting as a support level), before continuing its upward move. This is referred to as a "throwback".
7. Price Target : The projected price target is found by measuring the distance from the neckline to the bottom of the head. This distance is then projected upwards from the breakout point at the neckline to provide a price target.
The Inverse Head and Shoulders pattern, while a powerful tool, is not foolproof. It should be used in conjunction with other technical indicators to validate and confirm signals, reducing the risk of false positives. Additionally, market fundamentals should not be overlooked while considering potential trades based on this pattern.
DOGE - 81% crash is starting! (Sell all your coins, no time)
If you haven't sold DOGE, you should do it as soon as possible because otherwise you will experience a critical 81% crash. But fortunately, I am here to protect your funds, and in this analysis, I will tell you why this crash is going to happen!
First of all, we can clearly see that the price is moving in the descending parallel channel on the macro-weekly chart. The price is inside the channel, and we have a total of 5 touches. This is definitely a valid parallel channel on the LOG scale, and Doge remains in bearish mode.
What's more, there is a bearish head and shoulders pattern, and the price is very near its neckline. You still have time to react, but the crash could be very steep and disgusting, so what you want to do is short Doge instead on the futures market if you want to make money on this coin.
In April, Twitter changed its logo to the Doge coin logo. It was supposed to be bullish, so everyone was buying like crazy, but instead the price went down even below the starting bullish candle. It was clearly an April joke from the Twitter owners, and there was no plan to start a bull market. So why do they do that? Clearly, the investors that bought the news are at a loss, and an 81% crash is starting so...
The bottom could be at 0.618 LOG FIB, but I think we are going to go even lower than that. But this is definitely a good level, so you can buy Doge at the FIB for a short-term bounce and make money. It's going to be a great trade. Make sure you do not forget about this upcoming trade with a 200% profit. I will, of course, notify you about it, so set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
Overall, Doge is bearish, but I believe we will see a new all-time high, but it's not going to be soon. This coin is not going to zero, as it is valuable. We need more time so the whales can buy this coin at a cheap price!
Thank you, and for more ideas, hit "Like" and "Follow"!
Piedmont Lithium: Inverse Head & ShoulderI found Bullish Divergence on the 1hr to support a move higher and maybe the H&S plays out.
Happy Trading!
OnePath
BASE - Inverted Head & ShouldersFor the past 3 weeks, BASE has seen higher volume (accumulation) leading it to break out of an inverted Head & Shoulders Formation (bullish) last week. With earning expected on 6th June, it is likey that it's earnings could be positive. However, whether the recent up move has already factored in a positive earning (and then "sell on news") remains to be seen.
If it started to sell off on "news" after earnings is announced, it could present good entry opportunity to long if it remains supported above the 50% retracement of it's recent upswing AB.
However, if it gaps up after earnings, then we need wait and see if it begins to consolidate before looking for signals to long (bullish patterns, divergence, fib support, gap close etc).
This inverted H&S basing formation had formed over 12 months+ and looks to be credible for longer term upside, not to mention it is also now above it's 200 day MA (although it could be risky to long in the short term due to earning announcement risks). Let's see what happens after earnings and whether opportunity to long present itself after.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
