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Inverse Head and Shoulders

Bitcoin to $100KOverview Bitcoin is the best litmus test for the crypto market. Whenever I can't get a read on a particular token, I refer back to Bitcoin. After reviewing the chart I believe Bitcoin is on route to $100K. Honestly, I wouldn't be surprised if it rockets pass this price and hits the next key Fibonacci level around $150K but that is months down the line. For now I'd like to stick with a March '24 prediction. Trading Patterns Bitcoin appears to be setting up for an Inverse Head & Shoulders or a Cup & Handle pattern. While both are bullish signals it does imply there will be a temporary dip in the price before further buying volume ensues and takes it to new highs. Scenario 1 (Inverse H&S) An Inverse H&S could result in a correction back to $35K-42K if it comes to fruition. Scenario 2 (Cup & Handle) A Cup & Handle could result in a correction to the same range with a more likely price target near 42K. Supporting Theory You may be wondering what the white vertical line is in both of the trading pattern scenarios. It marks the next FOMC meeting which occurs on 19-20 March 2024. I believe a significant correction is going to occur within the equity market following this meeting and while its timing in relation to the development of these trading patterns could be coincidental, I believe it supports the idea that the crypto market may also experience a drawback. Now I think it goes without saying that I don't believe these corrections will be a market reversal back into a crypto winter. I just believe the FOMC is going to finally make changes regarding the Fed Rates and that, when it does, regardless of whether they are increased or decreased the large investors are going to withdraw for two reasons: 1) Realize profits 2) To get a feel for the direction of the market moving forward Once the second condition has taken place then I believe both the equity and crypto markets will continue their rallies as the "whales" reinsert their liquidity. March Price Prediction Everything aside, I believe Bitcoin will continue to grow for the next week or two. While there is not much room left before the prior trading patterns would need to see a correction, I believe that Bitcoin could reach 69K before the next FOMC meeting.
COINBASE:BTCUSDLong
by Shepherd_Investor
1
Solana’s breaking above an invh&s that’s also a right shoulder Priceaction is currently above the neckline of this daily chart inverse head and shoulder pattern on solusd with one daily candle close above the neckline so far. Should it trigger the breakout the measured move target is $135 which would put price action above the neckline of a much bigger weekly chart inverse head and shoulder pattern’s neckline. The measured move breakout target for that larger invh&s. Pattern would be around $242. Last October we saw the Dow Jones Industrial chart also start to break above a big inverse head and shoulders pattern that also had a right shoulder which was it’s own smaller inverse head and shoulders pattern just as we are seeing come to fruition now on the Solana chart. We must remember on that chart we had an initial fakeout above both necklines around July so there’s always a chance the initial break above the necklines for this solana chart starts as a fakeout too. However since then, The DJI chart has hit the target of it’s smaller inv h&s target and is very close to hitting its bigger inv h&s target so I’d say using that as a precursor, probability is rather high for solana to also hit both of its breakout targets within the coming months. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
12
KSS - Update to my breakout video - We are already seeing it!Update here to my previous KSS video titled "KSS - Primed for a breakout!" Go and watch that if you haven't to understand why i've been preparing for this. This is all happening prior to earnings release in a few weeks and with a ton of buying volume coming in, I am very happy to see it! My projection is a retest of our daily tapered purple channel (which has been resistance for a long time now) and, utilizing all the liquidity that's been built up, breaking out with strong earnings. Obviously fundamentals and bad earnings can cause any TA to be void - but TA wise, this is one of my most confident positions. Look forward to seeing you all on my livestream at market open today! Happy Trading :)
NYSE:KSSLong
by ReigningTrades
Xrp appears t be breaking up from a 4hr timeframe invh&sAs always with any timeframes under the 1day, the reliability of chart patterns playing out starts to reduce the smaller and smaller the time frame you go to but the 4hr does seem to validate its fair share of chart patterns often enough to take this 4hr inverse head and shoulders serious. If it can reach it’s full target it will climb to 59 cents here Ithink the next few days to a week or two, however we can see the pump is currently running into some long standing resistance that it may take quite a few retests on before it can break through those and head to the full target. The good news is, in reaching the full 59 cent target by breaking above the current resistance, we will likely also trigger/validate the breakout of a much bigger higher time frame chart pattern or 2 that should hopefully create a domino effect and send price soaring in the near future. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
TSLA makes progress in trend up LONGTSLA on the 120-minute time frame has finished off an inverse head and shoulders pattern with the bottoms on January 26 February 6 and February 14 respectively. Price rose above the neckline at 197 and appears to be trending to retest it. My target is 220 which is the 0.5 Fib level of the prior immediate recent January trend down. The relative strength fast line is dipping for a bounce off the 50 level horizontal line. The past RSI indicator shows much improvement in strength. I will buy TSLA shares and options when price gets retraced to about 197 =/- 0.50. I expect this will happen on the next down general market day which could be as early as the morning after this present holiday.
NASDAQ:TSLALong
by AwesomeAvani
2
GBPJPY Trading Plan: Bullish Inverse Head and Shoulders PatternIn our GBPJPY analysis, we are observing a potential short-term buying opportunity on the 1-hourly chart. Here are the details: 1. Setup: Bullish Inverse Head and Shoulders Pattern 2. Timeframe: 1-Hourly Chart 3. Key Levels: - Entry Point: Trendline retest (Blue) - Caution: A close below the right shoulder would invalidate the setup. This setup presents a unique aspect with its slanted neckline. While the longer-term bias may be towards shorting GBPJPY, the short-term focus is on a potential buying opportunity. Feel free to share your insights, and let's navigate this market together.
Long
by RaynLim
Upward slanted inverse head and shoulders on bitcoinThe overhead resistance bitcoin priceaction has been battling with the past few days is this upward slanted tan neckline shown here. Not sure when price will actually break above this line and upward slanted inverse head and shoulder patterns can be some of the more difficult ones to trigger the breakout on…however if it does indeed breakout in the near future the measured move line is already over 50k at this point and will only move higher the longer it takes to get above the line….of course we could see a correction that dumped us far enough to retest the base but I think worst case scenario at that point is the inv h&s would morph into more of a double bottom pattern. Whether we trigger a breakout from this pattern in the near future or we instead correct deeply enough for it to morph into a double bottom pattern, it seems worth keeping an eye on as I feel confident that we will reach these kind of breakout targets soon enough most likely before Q2 of next year. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
ROKU Reverse H & S setup LongROKU trended up paradoxically from less than a fairly weak earnings report about November 1 '23 and then reversed into a trend down into the support of the 0.382 and 0.5 Fib levels in a retracement. Price is now forming a head and shoulders pattern having found that support. It is above the POC line on the evolving POC and high volume area. Based on the latter, I believe that it now has room for the upside to $104 for about 18% potential. With a stop at $84 below the POC line, I see this as a safe play in the areas of technology and multi-media at a lower price than NFLX and Disney.
NASDAQ:ROKULong
by AwesomeAvani
1
An inverse head & shoulders pattern formed in XLM.Today was an incredible day for many cryptos, and not so much for others. But one thing you can be sure of is that XLM has been spending the past two weeks forming a perfect head & shoulders pattern on the 30 minute chart that, assuming it plays out bullishly, is almost near the take off point! If price action breaks out of the dashed white line at the top of the wedge pattern, we could see a dramatic price increase in the coming weeks. This could also be a great sign that XLM could be well on its way to gaining ground, and starting a new bullish trend in the mid to long term. Good luck, and always use a stop.
Long
by MetaShackle