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Dotusd chartSince I posted a chart on the dotusdt pair showing the double bottom and the bearish head and shoulders pattern, I also wanted to post a polkadot idea that showed the bigger inverse head and shoulders pattern thats still very much in play as well. We can see how dot did a very convincing fake breakout above the neckline before dipping back down below it. It’s common for price to go above the neckline multiple times and then back below it in between those times before the actual breakout, usually it doesn’t go this high above the neckline without validating the breakout, but let this chart be a rare example that shows it can happen. We can see that the weekly 50ma in orange and the weekly 100ma in yellow is currently holding double reinforced support and could easily end up being the lowest part of the right shoulder of the inverse head and shoulders. On the previous dotusdt chart that I posted shortly before this one (which I will link to below) you can see the weekly 50 ma is double reinforced support with the top trendline of the channel also suggesting the bottom of the right shoulder may be in. The top trendline maintained support on the usdt pair but we can see price action had dipped below the trendline here on the usd pair and is still currently just below it. Need to reclaim that trendline as support on the usd pair too to help insure we won’t breakdown from the bearish smaller head and shoulder I posted on the usdt pair chart. *not financial advice*
COINBASE:DOTUSD
by DrDovetail
1
A DOTUSDT chart per request.It was requested in the comment section of a previous chart I posted what I thought about the DOTUSDT chart so here I am taking a look at it on the weekly chart. We can see here how as soon as polkadot reache its full double bottom breakout target that it began a big correction…in doing so here it completed a head to a potential head and shoulders pattern and since it bounced from that low it is now forming the right shoulder to that head and shoulders pattern. f it were to validate the breakdown below the purple neckline of this head and shoulders pattern the full breakdown target would actually be even lower than the price range of our double bottom patterns lows. Because of this, I think this greatly reduces the probability that the pattern would hit its full breakdown target. Also since we are currently in the macro bull market cycle phase bearish patterns don't hit their full 100% targets as often. There is still a slight possibility it could hit the full breakdown target but imo that would likely have to coincide with a pretty severe black swan event to blame it on as a scapegoat. I think as long as we avoid some sort of crazy black swan in the coming months, that there is a higher probability the head and shoulders pattern doesn’t validate its breakdown. What to watch in order to know which way this will pan out is whether or not the top trendline of the yellow channel (aka the neckline of the double bottom) can maintain support on the weekly channel. Considering how the weekly50ma(in orange) is now coming up to overlap that trendline as double reinforced support, it’s wise to watch for price action to hod support on the weekly 50ma as well. Hopefully thisMA will help lift price action up and bounce it upward. As long as the weekly 50ma maintains that support the h&s pattern will not be validated. *not financial advice*
by DrDovetail
Celo (cgldusd) Weekly chart indicates the double bottom breakout. . .has been validated. Now jsut waiting for price action to head to the full double bottom breakout target. In the current price zone, a mild correction before reaching the full target wouldn’t surprise me. In doing so it would help it create an inverse head and shoulders for its follow up bull pattern. Also a chance it just skips the correction and heads straight to the full target first. Either way I expect the target to be hit. *not financial advice*
COINBASE:CGLDUSD
by DrDovetail
Litecoin poking its head above the inverse h&s necklineAs I always reiterate, priceaction will often dip back down blow the neckline of an inverse head and shoulders pattern after the first time it breaks above that nckline, so you never want to get too overzealous about the initial neckline breach like we can see litecoin has jsut made on its inverse head and shoulder pattern. Probability is fairly good that I will have to readjust my measured move line slightly lower to wherever the real validation break of the invh&s neckline occurs, however there’s also plenty of examples where an asset has validated the invh&s breakout on the very first breach of the neckline so one must always take into consideration that that outcome is also quite possible. Either way, being deep into the midst of our current bull market,I am confident this invh&s attern will have its breakout inevitably validated at some point in the near future. We’re we to see a pattern like this in the middle of a bear market then probability would be much higher for the chance of it being a complete fakeout bull trap, but since the market cycle and overall macro sentiment of the market at the moment is bullish probability of this pattern being a fakeout/bull trap that ends up getting nullified is almost non existent. In my opinion Litecoin will need to flip the weekly 200ma(in blue) to solidified support before it can validate the breakout of this pattern so that will be something to watch for. *not financial advice*
BINANCE:LTCUSD
by DrDovetail
1
Silver target hit precisely after inverse head & shoulders breakJust posting this update on the silver chart to exemplify how TA often does work with exact precision. As soon as the inverse head and shoulders on silver validated its breakout the price action climbed to the exact price target before its current correction. We can see how the wick on this particular chart even hit the top of the measured move line at exactly the time it hit its target. Always a cool thing when that occurs. *not financial advice*
OANDA:XAGUSD
by DrDovetail
Silver correcting after 1st target hit; bigger invh&s trgt = $34The top of the highest wick on silver is actually the exact measured move target of the previous inverse head and shoulders silver recently hit precisely. On the journey as it retested that ones neckline it formed this anger more horizontal inverse head and shoulder neckline and has since also broken above it with a measured move target much higher at around $34. I am currently watching for the dotted purple measured move line or the horizontal neckline to get retested here and hopefully one or the other wil maintain support…price could easily also dip back below the neckline a few times before the real breakout like it did with the previous inv h&s neckline. I will link the previous invh&s chart down below for you to compare. *not financial advice*
OANDA:XAGUSD
by DrDovetail
An update on the bitcoin dominance charts double bottom patternWe can see that Bitcoin dominance is still on its way to the full breakout target from the double bottom pattern it broke up from a couple months ago. After breaking up from the neckline of the double bottom pattern it formed a bullflag and seems to have just recently broken upward from that bull flag. The target of the bullflag breakout lines up nicely with the double bottom breakout target giving us some nice bullish confluence to increase the probability of hitting the full target of about 57.18%. Once bitcoin reaches this level, it would not surprise me if thats when alt really start to pump afterwards. We shall see soon enough if that will hold true. *not financial advice*
CRYPTOCAP:BTC.DLong
by DrDovetail
2
After hitting previous targets Doge now above invh&s necklinePrevious target was 21 cents which Doge has just recently hit and in doing so doge also create a larger inverse head and shoulder patterns which its price is currently above the neckline of now. Very possible the price dips back below the neckline once or twice before finally having the break above the neckline tat trigger the breakout of the inverse head and shoulders pattern, but as always its also possible it could validate the breakout on the current breach of the enckline. If it were to validate the breakout on this initial breach above the neckline, the next target woud be around 36 cents. *not financial advice*
BINANCE:DOGEUSD
by DrDovetail
An update on my dogeusd chart.Doge finally triggering the breakup from the tan channel after doing a fakeout the first time it got above the top trendline of the channel. Sizable pump that is already getting rather close to reaching the full target. We can also see that we have broken upward from the purple symmetrical triangle right at its apex which has an even high target. The current candle body resistance is also the top trendline of an even bigger triangle doge has been consolidating inside for awhile. We will have to break above it in order to hit the full target of the tan channels breakout, however it is still a good probability that once we hit the full target of the tan channel breakout, priceaction could then dip back down and still close inside of the bigger triangle pattern for awhile. Being at this almost hyperparabolic phase of the bull market though its also quite possible we retest the top trendline of the bigger triangle as support after hitting the full tan channel breakout target too, in which case doge would continue up from from here once it solidified that support and start working on validating the breakout of the bigger triangle.
BINANCE:DOGEUSD
by DrDovetail
4
Dow Jones getting closer to hitting first inv h&s targetAn update from a previous Dow Jones chart. I will post a link to the previous as well. We are getting very close to the smaller inverse head and shoulders breakout target here. Always a chance it corrects before continuing up to the second larger inv h&s target but then again always a chance it just keeps going to reach the 2nd target without a correction first(less probable) Best to consider both outcomes. *not financial advice*
TVC:DJI
by DrDovetail
Altmarket Total2 weekly log chart about to have a golden crossShown here is the channel/bullflag and the cup and handle the weekly total2 log chart’s price action has ben forming. It is now forming the handle portion of the cup and handle ad we can see we are about to experience a golden cross of the weekly 50(orange) and 200(blue) MAs in the next couple weeks or so. If the weekly 50ma can hold support then odds are good this thing can break up from its cup and handle and flag maybe by august or september. Possibly sooner possibly later but for now the breakout point of this handle and flag must remain speculative until we see a validation of a breakout. I roughly estimated a width for the handle by factoring in the weekly 50ma being able to hold support. If the weekly 50ma lost support I would then look for the monthly 50ma(not shown here ) to be the ultimate support. Some exciting targets here for the total2 alt coin market once these patterns validate their breakout. The cup and handle certainly seems like an attainable breakout target for the current bull cycle. The entire flag target seems like it could maybe potentially take 2 bull racket cycles to reach, however, If the 17 trillion target on the regular total cryptocap chart can be reached this current bull market. It’s possible that the high target on this chart could be reached this cycle too…this would likely only be if a currency like XRP, solana,link or possibly a mixture of them all suddenly took a lions share of the total market cap away from bitcoin..which seems unlikely…but if for some reason xrp was given for regulatory clarity once the sec ripple case was resolved, there is a chance all the financial institutions could start piling into it with as much ferocity as they currently have been doing with bitcoin….if so, the upper breakout target on this total2 chart could then be completely attainable in the current bull run. For now though I’m only setting my sights on the c&h target for total2. Will update the c&h target more precisely once a breakout point is established. *not financial advice*
CRYPTOCAP:TOTAL2
by DrDovetail
Speculative C&H Pattern on the weekly NEAR chart. Too early to confirm this but thought it would be fun to post a speculative pattern on NEAR Protocol here. The bottom of this cup is not quite as rounded as I normally like them to be which is one more reason that this chart is mroe speculative as of now, but still I have seen cups with uglier bottoms play out so this one is definitely still feasible. Posting this now so I can watch the fun weeks-months from now by clicking play and see how well it plays out *not financial advice*
COINBASE:NEARUSD
by DrDovetail
2
A purely speculative hypothetical cup & handle possibilityBitcoin just hit a new all time high against the USD pre halving! The bitcoin spot etfs have shifted the paradigm and we now find ourselves in unprecedented times. Considering that, for all I know the correction may have already seen the lowest it will go before we resume bull, but if history can tell us anything, it’s that it’s very common to see multiple 30-40% dips here and there during the bull market and this very well could be the beginning of one of those corrections. If so, a 40% dip could take price roughly back to the 40k one,, which would be a convenient zone for it to correct to as it would likely retest the weekly 50ma there as they would probably be both arriving at 40k around roughly the same time, that would be an excellent place for a bounce, of course should a black swan event occur sometime near there we could even see an unexpected flash crash wick even further below that maybe even 50-60% but the probability of something like that is much much smaller. If we were to correct the usual 30-40% or even let’s say we start having diminishing corrections and only correct 15-25%, in doing so, we will actually be simultaneously forming a handle to the text book picture perfect cup bitcoins price action just finished forming once it reached the new ath. Because of the possibility of such a hypothetical scenario currently being in. Play,I went ahead and drew a rough guesstimating of what I would expect the handle to look like should we form one here. Again, this is a completely arbitrary guesstimate, so if we do form one, it could be much smaller than the one I’ve randomly drawn here in red. Whether it takes shorter or longer for us to finish the handle if one does form, should not alter the potential breakout target that it would have by much, and as we can see if we broke out around the time the rough estimate one I have drawn ends the target should be well over 120k. Because of the zone where price action has recently gone and now been rejected from is so close to our previous ath zone, we also now on the bearish side of things have. Potential triple top in play. We went up in price at such. Fast and hyperparabolic rate that the argument for this being the bull markets blow off top is actually a possibility, a very slim, low probability possibility, but still a possibility none the less, in which case, the triple top argument is able to at least be a possibility. Which is perfect for the whales and market makers because that will sew just enough uncertainty in the market that when we do get to the bottom of the current correction you will probably have permabears coming out of hibernation to claim the bull market top is already in and we are going much lower. However, I personally don’t think the top is in because we never got the signal on the pi cycle top indicator. I plan on taking d vantage of any correction we get here by accumulating, laddering in small buys around 20%, 30% , and then slightly bigger buys at 40% if we get it. Also if we’re lucky enough to get some sort of 50-60% flash crash from a black swan I will ladder in even bigger buys then as well. If somehow we were to get a flash crash that went as deep as 80% - 90% at that point then I would have to consider that it was a bull market top, however that would then mean that the follow up bear market freeware’s would be extremely short lived and we’d be right back into the bull market. High has never happened before, but hey, with thee new bitcoin spot etfs approved a lot of unprecedented price action is suddenly possible. Again this whole cup n handle idea in the first place isnt set in stone yet and theres. Chance we’ve already had our full correction even. I think judging by the past in btc’s history, the most likely thing to occur here though would be a 30-41% correction. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
14
Mana in a similar bear flag as gala was.Just like my previous idea I posted on gala, mana is also currently inside a similar bear flag where the flag is also a descending channel. The full breakdown target for this would be negative 1.80 so I think it’s more likely this bear flag breaks upward…the descending channel on its own usually breaks up so often when you see it as the flag of a bear flag it can increase the likelihood the bear flag breaks upward instead of down like they usually do. It could still break downward and not hit the full 100% breakdown target of course but I think its more likely it could break upward…it could also only reach the smaller bullish breakout target of just the channel instead of breaking up the length of the bearflag’s pole. Will have to wait and see….unlike gala we aren’t seeing any super significant bullish volume candles on mana yet, it also has zero candles above its channel as of yet…but that could change in the very near future. It has slightly less breakout potential as gala currently has as it would only go roughly 3x if it reached the top price target where gala could as much as 5x. *not financial advice*
COINBASE:MANAUSD
by DrDovetail
3
BLZUSD current weekly candle has a sizable bullwickIf the current weekly candle on bluzelle can close above the rimline for this cup n handle pattern it should solidify the current bullwick it has made after having a sizeable dip below the rimline earlier in the current weekly candle. Only have to worry about readjusting the measured move line in my opinion if we close the weekly back below the rimline as I would guess that this c&h is most valid on the weekly timeframe. However we have closed at least one daily candle back below the rimline again so there is a slight chance the measured move would be better suitaed to be moved to the third break above the rimline on the weekly channel. For now I’m keeping the measured move line where I have it, but I may clone the line and put the clone at the third breach of the rimline on the daily chart jsut to see if it seems to be holding more legitimacy with its interaction with price action than the measured move lines current location does. Odds are good if this weekly does close above the rimline that bluezelles retracement may soon be ending and the pump resuming. *not financial advice*
COINBASE:BLZUSD
by DrDovetail
Uniswap triggering an Adam & Eve Double bottom inside another 1We can see here on the weekly how UNIUSd has formed a nice Adam & Eve double bottom (illustrated in the yellowish chartreuse color). We can also see how inside that double bottom we have formed a smaller fractal version of the Adam & Eve double bottom as well (shown here illustrated in pink). To make sure I covered all bases, I also included a the more common horizontal double bottom possibility as well shown here illustrated in a light grayish blue color. First and foremost the pink Adam & eve fractal has already validated its breakout and in doing so has brought us above the neckline of the largest double bottom pattern as well. I get the feeling that all 3 of these overlapping double bottom patterns are valid and will be validated. If so I will keep you updated as each of the 3 targets get hit. *not financial advice*
COINBASE:UNIUSD
by DrDovetail
Link daily bullflag target= $23 weekly bullflag target= $25Link starting to act like it’s about to break upward form this daily timeframe bullflag in teal. We can see below that it has already broken upward from the larger weekly timeframe bullflag in pink. Our next stop should be $23 to reach the daily bullflag target and then $35 to reach the weekly bullflag’s target. No guarantee the current candle is the breakout candle but it does feel like even if it isn’t the breakout candle is still just around the corner. *not financial advice*
COINBASE:LINKUSD
by DrDovetail
3