DrDovetail

DrDovetail

it may send a fakeout wick below the symmetrical triangle's bottom trendline before th ebig breakout but I'm feel like probability definitely favors a break to the upside.

DrDovetail

after reaching the first 2 bullish breakout targets we charted of the purple descending wedge and the pink inv h&s target, instead of continuing up to the final inv h&s breakout target we have instead broke back down to retest the final inv H&s patterns neckline. We had a very positive 1 day close back above 12k but we have now gone back down to retest the final...

DrDovetail

We have finally hit both the purple descending channel's and the downward slant pink inverse head and shoulders' breakout targets and are currently consolidating just below the horizontal resistance at 13071. Our bigger green inverted h&s pattern's breakout target is still to come at 14400 but there is a chance we may find resistance on the way there at the...

DrDovetail

It appears like the 31% correction is truly over. The volume is back to bull market levels..rivaling some of the biggest daily volume candles from our last All time high. I can't help but be ridiculously bullish at he moment...let's keep in mind a fakeout can always easily happen right at the key trendline for a breakout everytime so always wise t o be prepared...

DrDovetail

i think we could still see a correction after retesting the all time high on the way to this c&h's breakout target...but this one can very easily trigger as well as a more level one at 19k to provide double the momentum...have to solidify support above 13.8k for this one o have a chance though which seems very possible now after the recent inverted head and...

DrDovetail

Assuming we close the 1 day candle in this range, odds look very good of confirming the bullish breakout of 2 inverted h&s patterns (a 1hr and 4hr chart) and a 1 day chart descending channel bullish breakout. Both the 1hr inv h&s and the descending channel show confluence in their breakout targets around the horizontal at 13007. The 4hr chart h&s on the other hand...

DrDovetail Updated 

Not sure if this will lead to us eventually filling the cme gap at 8.4k or not,,,but I will be laddering in on the way down and not waiting to find out...if it does I will buy in again then as well.

DrDovetail

10507 projected drop target may bounce up off the 1 day falling wedge's top trendline as support or go back inside the falling wedge...hard to say. Could also still be a breakdown fakeout bu that seems unlikely.

DrDovetail Updated 

I think XRPUSD will continue to consolidate sideways for a week or 2 or 3 finding good support on the weekly 50ma...and once it nears the last 2 remaining potential top trendlines of the 1 month chart's giant descending triangle we've been in for almost 2 years(the dotted yellow line and the pink log chart line), once it nears those w will s it start to gain the...

DrDovetail Updated 

The inverted cup and handle pattern on xrpbtc seems like it is more a 1week chart pattern or possibly a 3 day pattern meaning it can close multiple day candles under the rimline without triggering the breakdown to negative satoshis. If it's more valid as a 3 day chart pattern then we can close around 6 consecutive 1 day chart candles under the rimline without...

DrDovetail

currently we have a 1 day chart falling wedge with an overlapping pair of inverted head and shoulders patterns(1hr &4hr chart) on top of it. Then on top of those head and shoulders patterns we have a 4hr chart rising wedge(in turquoise) and a 3hr symmetrical triangle(in blue). solid chance for bear or bull although bear has the upperhand slightly since a 4hr lower...

DrDovetail

ssia

DrDovetail

Not sure how often ones that have his much downward tilt actually trigger but something worth keeping an eye on all the same. Neutral until I see confirmation fo some sort of breakout.

DrDovetail

We have finally reached a 31% correction here when we dipped into the upper 9k region...odds are good the 1hr/4hr chart h&s pattern is really a decoy at this point as a 1 day chart falling wedge is starting to take shape more and more as the candles progress and is starting to seem more valid. We have also filled the highest gap on the cme futures contracts on the...

DrDovetail

not that 1 hour patterns or 1hr golden crosses are all that significant, but this could snowball into bullish breaks on bigger more significant time frames.

DrDovetail Updated 

Normally I'd list an idea like this as neutral until I saw confirmation of a breakdown below the neckline. However in this situation after such a parabolic rise plus what seems to have also been a blow off top and the fact that we have gaps as low as 8.5k on the futures contract that still need filled, I think probability favors a breakdown here. Not only that, I...

DrDovetail

30 minutes or so left in the 1 day candle and we can see it still looks very likely we will close as a bearish engulfing candle. If this occurs it is highly probable that we will see considerably steeper downside to price action. Currently, we have already had a bit of a rebound after correcting 26% but odds are good this will be a dead cat bounce and the full...

DrDovetail

this pattern here is why I believe xrpbtc will no longer close any further candles under this current price point. We are in an inverted cup and handle pattern with a downward slant but the breakdown target is negative satoshis which I think is an impossibility. Therefore probability highly highly favors this being the bottom. last time we had a head and shoulder...