Bitcoin - Likely Rally to 12,000.00 & Supported By Inverse H&S

The Price bounced upwards from the strong support zone formed by MA50 & support levels of 7,900.00 / 8,300.00.
Also the Price breached Downtrend Line (In the bigger picture this is top line of the Falling Wedge Pattern). Bullish Hidden Divergence supports upward movement which is indicating continuation in the price movement.
The most important pattern is The Inverse Head & Shoulder pattern which is strong Reversal Pattern. Buy orders should be left above the neckline and traded only with confirmed breakout. If the price manage to breach above of MA100 Level this is giving us extra confirmation that the uptrend will continue.
What if the price moves down?
Strong support level can be found at 7,000.00 - 7,500.00 area and this should be tested first. New positions can be opened at this support zone only with confirmed reversal signals. Also it is important to cancel buy orders and wait patiently for another buy opportunity.

Educational Part:
How do you get target from this pattern?
Draw vertically a line from the highest point of the pattern to the center and to lowest point. The line we just draw gives us the length of the target. (Example in chart, white lines)
Move this line to the break out point. Where the price has breached top line of the pattern. Where this line ends is giving pointers where the price might be heading to.

Trading Information for Bitcoin ( BTC / USD ):
Buy: above 9,116.00
Partial Profit Targets: Around 10,000.00
Main Profit Targets: 12,410.00 / 12,900.00
Rest should be left for the longer run.
Stop-loss: 6,500.00

If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!

Things to Remember:

  • Stop-loss orders are strongly recommended.
  • Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
  • Do your homework before investing.

Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.

Yarr The Pirate Crypto Cat
评论: Partial Profit Target hit Perfectly! Retest of major resistance level and chances are high for minor retrace before moving further upward!
Free Telegram Channel for Signals & News

Public Chat Room


Over 90% performance with our trading system!
Thank you, @yarr !

I am confused about your stop loss...

Why 6500?

It's almost 50% possible loss for a possible gain of ~30%.

And another noob question:

Why not use as stop-loss a low of a recent bullish swing (~8300) or maybe even a neckline level (~8600)?

Please explain if you have time.

Thank you forward!

P.S. Keep up a good work!
lc_parente alexbest
@alexbest, I did not understand his stop-loss, too. Based on this iH&S, I would let a stop-loss around ~7800, which is purposeful the bottom of the right shoulder, by the way. Anyways, following your discussion =)
+1 回复
Only problems right now are RSI showing close to overbought and low volume. Could be a sign that people are refusing to sell anymore. But the RSI being overbought shows that people could just as well be refusing to buy...
dont we need a uptrending neckline for reverse h&s ?
@idle, it is not necessary always. Here's an example: http://www.financial-spread-betting.com/wp-content/uploads/2010/12/inverse-head-shoulders.jpg Doesn't it look quite similar, right
@idle, I thought we needed Downtrend for Reverse H n S.... That's why it's a Trend Reversal signal, right?
great work man, I would totally buy now before it's too late!!! the impulse is strong
yarr kesmoments
@kesmoments, thank you! Appreciate that a lot!
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出