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A clue of where xrp can head based on it being a fractal of 2016Ok this will be a slightly extensive dive into how the current breakout move from the multi year triangle that xrp just broke out of has a high probability of being a fractal of the triangle pattern breakout move xrp did in 2016 that yielded explosive parabolic bullish price appreciation. I want to start with this image on xrp on the Monthly chart to show how the first monthly candle that confirmed the breakout of the 2016 triangle went up 287 percent and the first monthly candle confirming the current breakout went very similarly to around 283%. So since we already have it following that same pattern there, I’m gong to extrapolate where price could head from here if we are needed mirroring that same explosive move of 2016 with our current price action. If so, the very first spot XRP had a pullback and then consolidated into a bull flag before heading further up was actually at the 1.038 fib level which is just 13% or so above its previous all time high. If we were to do something similar today we could see xrp’s first real significant pullback consolidation around $3.75-$3.77. This is in line with certain chart patterns breakout targets I have in mallet time frame charts that I don’t have shown here. Other chart patterns in those smaller time frames have a targets around $3.80, $3.84 and some as high as $4.06 and then on the logarithmic chart as high as $4.77-$4.85. I think even as high as $45 would still fall in line with a standard deviation away from the 1.038 fib and would still retain the fractal if we were to reach the top logarithmic target before having that first pull back. We can see on the left of the chart above on the first triangle breakout, after it moved on from the 1.038 level the net level it rose to before the first significant correction s all the way up at the 1.618 (in blue). If Xrp were to maintain the fractal in current price acton then the 1.618 should be its destination to before the first ajar correction, and as you can see the 1.618 for the current Fibonacci retracement is all the way up at around $26!
BITSTAMP:XRPUSD
by DrDovetail
5
Something very peculiar is occurring with XRP dominanceUsually when the candles go upward on the xrp dominance chart, the btc dominance chart is going downward and the liquidity along the xrp dominance chart go up is coming from bitcoin liquidity. This time however something has changed. XRP dominance is rising substantially all while bitcoin dominance is also still rising. This suggests that the liquidity is no longer coming from btcoin but instead from other sources likely institutional investors. We can see the candle on the monthly has broken above the neckline of a large inverse head and shoulders pattern on the logarithmic chart. Will be interesting to see how well this plays out. Chart patterns don’t behave as they usually do when working with these kind of charts so it’s no guarantee what looks like a bullish breakout currently will behave like one. I will definitely be keeping an eye on this as it develops though *not financial advice*
CRYPTOCAP:XRP.D
by DrDovetail
XRPBTC breaking up from triangleYou never know when chart patterns will behave roperly when you are on the xrpbtc chart. Often times all bets are off on the usual chart pattern expectations with this pair. Suppose we were to actually follow through with the measured move breakout target from this blue triangle xrpbtc pears to be breaking up from well it would put price action even noticeably higher than the all time high between this pair that was set back in 2018. Let’s see if for once price action behaves like it’s supposed to herewith this pair. *not financial advice*
by DrDovetail
XRPBTC breaking up from triangleYou never know when chart patterns will behave roperly when you are on the xrpbtc chart. Often times all bets are off on the usual chart pattern expectations with this pair. Suppose we were to actually follow through with the measured move breakout target from this blue triangle xrpbtc pears to be breaking up from well it would put price action even noticeably higher than the all time high between this pair that was set back in 2018. Let’s see if for once price action behaves like it’s supposed to herewith this pair. *not financial advice*
by DrDovetail
XRPUSD log chart’s triangle pattern on the 1 month chart.Always a chance price action could break above this triangle at any given moment but we can see that the apex of this triangle goes all the way not 2026, so it could also just continue to grind slowly idle ways as well. Hopefully a final ruling in the SEC Ripple case occurs soon and isn’t followed up by any kind of appeal so price action can finally get moving. I am simply posting this chart here so i can keep tabs on this pattern as time progresses. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Linear chart version of cup&handle+ bullflag targetsI just posted the log chart version of these patterns before posting this idea and as you can see the linear chart version of these patterns have a much smaller measured move target for their breakouts. Usually what ends up happening in these scenarios is both the linear and log targets eventually get hit,, it just takes the logarithmic targets much longer than the linear ones. So while there is a possibility we could hit the log chart targets this bull run, there’s a much higher probability that we will Hit the full linear targets this bull run. With the higher log chart target that could get reached this bull run or it could also not get hit until next bull run which is something that has occurred frequently in the past with log patterns as well. Either way I’m confident those log chart targets will get hit by next bull run if not this one and pretty confident as long as the 5.3 diminishing returns theory doesn’t play out that we will very likely hit these linear price targets. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
The 1 month Linear Chart’s wedge target is nearing I just recently posted about the logarithmic wedge which is also a bullish pennant and how it will take us much higher, but also wanted to post a chart with an update of the other wedge we also broke up from back at the beginning of 2023 (shown here in pink). It has now been a little over a year since the breakout of this monthly time frame pattern and like clockwork the price is doing exactly what I had anticipated it eventually would all the way back then. We can see price is now nearing the wedge target of 2.493 trillion for the total crypto market cap. This is the next zone to watch where we could potentially experience some sort of correction after reaching. I went ahead and also included the flagpole of a pennant that is better visualized on the weekly chart and it is telling us that eventually we should also reach its target of 3.436trillion as well. Odds are very good we will see consolidation in between the 2 targets. Being a 1month pattern, that is why it took so many multiple months to get close to reaching this first target, and it can also take several more months before reaching the next higher target is well even though they both broke out at the same time. Looking forward to pressing play on this chart a few months from now and eyeing the price action inch closer to the top target. *not financial advice*
CRYPTOCAP:TOTAL
by DrDovetail
DISH Network Macro technical developments point to BuyHi guys! So this is a look into DISH Network (DISH) technical analysis. This analysis is done on the 1 Month timeframe, thus depicting the Macro price action of DISH. This analysis does not express the shorter term or intermediate term trend but looks to assess the Long term trend. The findings in this idea also support a buy and hold strategy for DISH. Do note that because of that it is possible for shorter term or intermediate term pullbacks. I will do my best to post updates on shorter timeframes to help assess better buy areas. But anyway lets jump right in. As you can see from the Highs of Dec. 2014, we've been in a continual price decline. Depicted by "Major Resistance trendline", that has helped propel the downtrend. We reached major Support Zone, to only break through and continue our downtrend. Till we reached our Downtrend target zone. Here i was aspecting more downside, where price action would have traveled inside this zone. This month however we have had a 45%+ bounce Up. Currently in the process of creating a BULLISH ENGULFING CANDLE. It being on the 1 Month, makes it very Powerful. Note though: This months candle closes Dec. 31st. So nothing has confirmed yet. But if on Jan 1st, we are still looking like this. This ENGULFING candle may indicate a macro trend change. We have also from last months and this months candle, confirmed a Sloping Support trendline. This showcases the Uptrend and a Higher low on the Macro scale. Notice also the 21 EMA (Purple moving average). This will continue to come down BUT it can be used as a target for where price will move to. We've also havent touched it since 2021. So probabilities dictate we will eventually touch it. So keep that in mind. A likely target if this uptrend continues is the $9.00 level. That would be a critical area since breaking above will mean continued bullishness but a rejection could mean that there maybe a probability that we go lower, possibly into the DOwntrend target zone.
DLong
by SafofAllTrades