I don't see the bottom being any lower than $1120. Still a chance we've already bottomed of course or that the bottom is only slightly lower at $2800 or even 3k. However I feel confident that the lowest we would go is $1120 based on the past history of major peaks and bottoms on bitcoin. I don't believe the ultimate btc bubble pop has happened and feel this market...
I anticipate it will break up from the wedge at just the right time to find resistance at the horizontal white trendline...then I expect it from there to begin its descent into final capitulation...although we may not see the final capitulation candle until february, I think we will see it by february at the latest. I anticipate we will meet resistance here and...
This is currently as close as we've seen a potential golden cross on the xrpusd chart. The question now is whether or not it will actually be sustainable or a fakeout. The next candle the 50ma will filter out is a red one but the next candle the 200ma will filter out is a red one that is twice as long...so It's still currently rather hard to say whether or not...
Tread carefully here because we are still within fakeout range but if I wasn't already long now is a wise time to start at least laddering in...can set smart stop losses a few pips below the neckline to be safe as well but even if it dips I anticipate the neckline should hold support.
This inverted head and shoulder has a disproportionately long left shoulder but it is still valid we are currently testing the neckline. Judging by how overextended the stochrsi is on the buy side on the 4hr chart there are decent odds that this could be rejected here at the neckline but I'm pretty certain on the 1 day stochrsi we are in the oversold territory...
there is a clear falling wedge pattern on the weekly bitcoin chart. We have now also clearly broken below it, however many falling wedges will have fakeout breakdowns just before 180ing and climbing back into the wedge just before its apex to break upwards....this can also still happen here...not saying it will but it's certainly something to consider...if it were...
Not so sure the bottom is quite in yet. . .it could be and we could be just accumulating here but as we saw with the recent green candle that got rejected at the bottom trendline of the previous bearflag we are still in dead cat bounce zone so more downside is more probable than this being the current bottom...I really can't see it goign lower than 2.8k but its...
the additional 3rd target not shown here is somewhere in between those 2 around $3,231 or so. I'm gonna wait for any dead cat bounces to ladder out any more.
On bitmex the original bear flag with the descending triangle pennant is still valid but the descending triangle of it is getting larger and larger and will soon be too long to be a bear flag and will likely act as just a descending triangle instead. If we break down from it it is more likely that we only drop the length of the triangle than it is that we would...
bullsh chart patterns stuffed inside bearish one. tis the season.
We are now potentially forming an inverted head and shoulder pattern overlaid on top of the falling wedge which only will increase the odds of a bullish breakout for btc. In order for this inverted head and shoulders to have a chance it must have a bounce before too long and the most likely spot we have as a good bounce support is the top trendline of the falling...
inside what started out looking like a descending triangle bearflag we have developed a small falling wedge(bullish)on the 1hr chart...shown here is the 4hr chart. The initial 4 hour descending triangle we have already broken below but the whales seem to be holding things above 4k thus no breakdown was triggered casting much doubt on tis being a descending...
A break down from the flag is the most probable direction here...most likely just in time for Black Friday...the stoch rsi seems to concur with me...I will be taking advantage of those Black Friday prices and stocking up. You make your own decisions though because financial advice is not included here. Thanks for reading and good luck!
This trajectory on the xrpusd 1 day golden cross should hold up as long as the net few days candles are mostly green ones. Stoch Rsi can only spend so much time in the oversold teritorry.
As I said in my previous btc idea I flly anticipated we would break down from the descending triangle ebar flag which we have...we are inching closer and closer to the drop target with every new 4hr candle...I expect us to hit this price on bitfinex but the premium may remain and if it does that means on exchanges like coinbase it could fall as low as the 4.4k...
Take a look at this picture perfect inverted head and shoulder setup on xrpusd's 1 day chart. Also take a look at how close the 50ma(in orange) is to rising above the 200ma(in blue) for a 1 day golden cross. Now factor in how the stoch rsi indicator has plenty of room to head upwards and is already suggesting its ready to do so. Lastly, factor in that we have...
we can see XRP finally broke the resistance of the horizontal pink line. XRPLedger payments volume is really starting to boom as well on the xrpcharts on ripples website. Onward and upward we should hit the inv h&s breakout target within the next 1-3 1day candles is my estimation. Also greatly widening the gap and dominance over Ethereum and making big gains on...
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...