The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts.
Here are the main characteristics:
• VOLUME MIMICS PATTERN
• 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT
• TRIANGULAR IN APPEARANCE
• FOUND AFTER UPTREND
• HIGH SUCCESS RATE
• CAN BE SLANTED
Price forms 3...
The D3 chart shows a possible IHS forming for those who subscribe to the idea of an IHS bullish continuation pattern. The shorter term target, as we can see, targets the neckline. A successful completion of the pattern suggests a target of the R3 pivot at least, based on the height of the IHS.
The monthly chart shows that a possible symmetrical triangle is...
Good morning, traders. Price continues to consolidate within a flag/descending wedge. The target based on the height of the wedge remains, as it was yesterday, the ascending red "neckline" of the possible IHS. But, as I mentioned previously, we need to see increasing candle spread and expanding volume as the right shoulder is completed and price pushes through the...
Hello dear friends,
this is more of a study than a chart.
Here is what i did:
* I sampled 16 IHS that showed over the past year and were visible on the 4hr chart.
* I took in consideration sloppy patterns but ignored the ones that didn't complete or patterns that were too small or too big to discern on the 4hr.
* targets are calculated roughly based on the...
