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...
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...
I'm hoping the breakdown from this current bearflag will be the final coffin nail for the bear market. I anticipate a big rebound once we hit this drop target but am prepared for the exact opposite too of course. This bear flag drop target range is right around the range the head and shoulder drop is supposed to take us if it incorporates the big tether...
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...
bad day in btc today as a big head and shoulder pattern has triggered and reached the first possible drop target which it is now currently wicking upward from. That target was calculated by not including the super tall bitfinex tether wick on the head that happened in october...the second target is about 1,000 lower than that and factors in that massive...
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.
BTC finally breaks above the 50 ma(in orange) and hits the projected breakout target that we showed in a previous idea of this small falling wedge pattern precisely...would not surprise me if it consolidates a little here until stoch rsi is cooled down before the 50ma eventually lifting it further upward. So a very temporary neutral here while a more long term long.
As I had predicted in my previous bit coin cash idea on here we reached the neckline of the double bottom on BCash and have finally triggered the breakout...the price target I have listed here is a great palce to limit sell, although we may run into decent resistance at the 1 day 200ma(in blue). We may also start to wick down just before this target too so a pip...
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.