You can see here on the 1 day chart that price has broken well above the neckline but is seeing resistance right at this blue horizontal line...what you cant see here is that the candle has already thrown a tiny wick above that line thus forming a higher high over the green candle where the horizontal line starts...in doing so XRP has broken the inside bar...
Normally my xrp charts are looking at the XRPBTC pair...but with more and more exchanges now enabling the XRPUSD fiat pair I think it's important to factor that in as well. We are currently right around 49 cents but will likely be heading upward soon...you can see the price action has been consolidating in a falling wedge which most of the times break...
here we can see the inverted head and shoulders and how xrp is currently testing the neckline. I have two price target as here in black boxes. The first one represents how high we should climb after breaking up from the small symmetrical triangle(in green). The second much higher price target is where we will go if we trigger the inverted head and shoulder pattern...
XRP is looking very bullish now as it appears to have potentially flipped this yellow line it was struggling to get above from resistance to support after finally breaking above it and up and above the inside bar consolidation it was trapped in. This is a very bullish sign as it will now likely close abov this symmetrical triangle and trigger a nice bull break...
Hard not to jump in on this with that giant volume bar on XEM I say wait until we have a confirmed break above the h&s neckline though that flips the neckkline from resistance to support and solidifies it with either 2 1 day candle closes above it or another huge influx of bull volume once it crosses above the neckline...it's already done a fake out once it could...
The inverted head and shoulders on Stellar I told you all to keep an eye on in my idea on November 6th is about to reach its breakout target. Kudos to all who traded with this in mind as I did.
If this inverted head and shoulder pattern is valid, price action should climb to this price target seen here. However with the confluence of xlm haviong a golden cross on both the 1 day and 4hr charts it would probably reach this target even without a valid inverted head and shoulder pattern. just my hypotheticsl thoughts could be wrong so no financial advice.
VZ has a bullish Inverted Head and Shoulder formation that could potentially see price move as high as $70.00 expect some sideways action next few weeks, with a clear break after. tight stop loss maybe a good idea to practice here, market looks on edge of massive correction.
Wait, this chart is inverted. Looking at BTC from this perspective looks very promising for a drop...I mean surge in price. :)
The inverted bart I was predicting off the last bear flag has finally occurred. Seeing as how we ahve retested the 1 day 50ma a couple times now since breaking above it and have found solidified support there I predict it will continue to stay bullish. R.I.P. Tone Vays 5x short
the confirmation candle is holding its ground but still 3 and a half hours left to go in this candle so anything can happen between then and now but probability currently favors a bullish break.
I assume the hype about zrx soon coming to coinbase is the big culprit for why zrx has seen such a massive spike in bull volume that has brought it well above the neckline of its inverted head and shoulder pattern. However to trigger the breakout I think we will need the current 1 day candle to also close above the neckline...if so you can likely expect the price...
ssia.
Keeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr...
Looking like it may confirm the break but as always we need confirmation candles to confirm the breakout and with a 30minute chart it may take more than one...looking optimistic so far though.
ZCash is one of my long holds so regardless of whether or not this inv h&s pattern breaks I will be holding. I'm pretty confident it will at least be testing the neckline soon and likely breaking upward. If it does break upward I have the price target posted here in green.
In dark turquoise here I ahve drawn an inverted cup and handle pattern...the price action has sent a wick to the neckline...should we not climb back into the symmetrical triangle by the time this candle closes probability is very high that we could trigger this cup and handle pattern...if so the target drop would be down to the bottom trendline of the weekly...