This is my gameplan for $NOW ahead of earnings. Options are pricing in an 11–12.5% move in either direction for the Q2 report on July 22. Meanwhile the chart is caught between a triggered bearish pattern and a still-developing bullish one. Three Black Crows already triggered in June. The inverse H&S is still waiting for confirmation. (But I treat the classic chart patterns as setups and candlestick patterns as signals. They are not the same.) Elliott Wave context wise the zigzag from the ATH has not been confirmed as completed. I’m leaning toward the inverse H&S, but it needs a weekly close above 139 to trigger. That same close would also invalidate the Three Black Crows. A long setup may appear first above $114 (second, smaller HH-HL) offering a better R/R, while the higher-timeframe structure is still developing. 🛑SL area: Supertrend –1% at $92.70. (aligns with the negative implied move from the option data) 🎯Targets: 1st $124 (where a zigzag could stall), then $146 (fib ext 1.618). If the inverse H&S gets triggered, it could target the $260 zone. A strong move above the neckline and the $260 target zone would be reinforced by the upward-sloping neckline, which often signals a more robust reversal. Weekly trigger could provide a 2.6 R/R. The daily setup with more targets and equal profit takings at key levels could provide 2.9 R/R. This is the price I have to pay for more information and taking profits in case the weekly pattern doesn't get trigger. HTF support: $89. Context invalidation: $81. Below this level the $67 is the next HTF fib extension level. Risk management and proper sizing is key! Higher-timeframe structure still requires higher-timeframe patience — especially with earnings volatility incoming. Would you wait for the weekly close above $139, or take an earlier daily entry above $114? Curious where you stand 👇
BTR forecastShare

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.