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Reverseheadandshoulders

OMISEGO BULLISH?OMGISEGO OMG/BTC Omisego looking bullish. - RSI @ 53, neutral but becoming oversold. - MACD trending well, last crossed on Feb. 6th, and continuing in new trend nicely. - Bollinger Bands have narrowed indicating a sideways trend may have formed for the time being. BUT they also seem to beginning to widen again, indicating another outbreak imminent, and with a current upwards price movement so far, the outbreak may very well be a bullish one. - Watch the Fib Retracement levels, if we can move upward past 0.5, expect further bullish movements. - Is continuing in recently formed upper price channel. - A beautiful reverse H&S seems to have completed, now awaiting outbreak. - Yellow lines forming ascending triangle. -Overall downward trend has reversed, but will trend reversal continue? That really all depends on what Bitcoin does.
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by Vermillionz
5
POWR/BTC - Reverse head & shoulders + Symmetrical trianglePOWR/BTC is looking extremely bullish in my opinion in the 4h chart. The reason why I say this are the following: 1) The price has formed a reverse head and shoulders (since the end of November, shown in yellow), with the neckline at around 7500 satoshi, which is currently being tested). 2) There is a symmetrical triangle (shown in the chart) which appears to have been broken upwards. 3) The MACD is turning bullish (positive). 4) The CCI shows a strong move by exceeding 200 (which it already did a few days ago), and a weak retracement inside the -100 +100 bands. I have set a limit buy order at around 7200 satoshi (which is the 50% Fib. retracement measured from the ATH and the ATL). I also have set a stop limit order 8350, which is just above the previous local high of Dec. 21. My first target is 11700, and my second target is at 17400 satoshi. I fundamentally love the idea of trading electricity with peers behind Power Ledger, in a world that is evolving towards the use of renewable energy. For this reason, it is one of my long term investments: I will keep most of my POWR for the long run, but I'll sell parts of my stack in the run ups and buy the dips. This is not financial advice, this is just my opinion. Any comment is appreciated.
PLong
by Andratos95
BTC - bullish vs. bearish? We'll know soonShort-term, BTC seems to be a little bit on the cross-roads here. It has formed an incomplete inverted head and shoulder pattern (tho quite whacked), but is not far from it with the price running against the neckline. However, we currently don't see the increase in volume required to change the direction and break resistance so we can't be confidently bullish. Thus, alternatively, we may well be looking at the formation of a descending channel, which would imply a short-term bearish outlook as BTC continues a retracement/correction. The picture should be more clear in the next two hours or so.
BITSTAMP:BTCUSD
by RvdH
1
Dollar StrengthAs we were looking for decline on the DXY , bulls took over control. Here we go with my weekly analysis on the U.S. Dollar Index; A (orange)( closed ) : Price clearly bounced on our bullish trendline. Blue area as been broken in the beginning of the week, my bearish bias was completely canceled. No break and no resistance, this direction bias is now closed. A (blue) : Previously our plan C, I see the DXY showing some significant strength signs; Blue area as been broken which was our resistance. Next area to watch for a break through is the yellow one. Price bounced on the bullish trendline. A nice reverse head and shoulder is forming, looking for a break of the neckline. Price found support right at the retest level after the trend line breakout, red area. Support found on both 50(aqua) and 200(gray) exponential moving averages after a bullish crossover. A nice regular bullish divergence also indicates a nice trend reversal, highlighted by the purple arrows on data and indicator window. Target is 96.00, optimal trade entry area for shorting. B (red) : Fake bullish move to the yellow area and by dropping back resulting as a price ranging. Only price action can determine those bias, even none of them could occur. Bias as changed for now but still bearish overall, I am currently looking for bullish move on this index, driving all USD based pairs. Dollar strengh = USDXXX UP / XXXUSD DOWN Dollar weak = XXXUSD UP / USDXXX DOWN
TVC:DXYLong
by RomZStar
Bitcoin about to break upwards?Bitcoin's showing upward potential still the weekly looks good and here on this chart im starting to believe a Reverse H&S is in play. Ill be looking for a bounce to the green trend unless support holds allowing it to break upwards showing pattern confirmation. This might be a good swing trade as their will be battles at the .local and all time high's. Another aspect to look at is on the smaller time frame reversh&s can be seen showing the market looks ready. What i am looking closely at however is the big ReversalH&S on the 1hr if this completes we will see a new ath, if this fails, expect to see the market tumble lower support levels.
BITFINEX:BTCUSDLong
by JetFlame