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1wk

QNT could also be breaking upward from a monthly bearflagQuant has been hitting multiple double bottom breakout targets in a row on the daily time frame (not shown here) which has taken price action up and above a channel (in red) that I have also been watching on the daily chart. It was after I noticed Gala appeared to be breaking up from a bear flag on its weekly chart that made me decide to flip my qnt chart to the weekly time frame as well, and sure enough, the channel was attached to a long bear pole on the weekly chart making it also a bear flag. If it does break up from the flag the breakout target takes price back up to this blue inv h&s neckline and would then complete the right shoulder…which is the price movement I’ve been anticipating ever since we reversed trend back to the upside, so this measured move target from the flag leading directly back to the neckline makes a lot of sense and adds good bullish confluence….you can see I also have another little dotted green line going slightly higher than the one I put the price tag on. The slightly higher one was when I included the wick in the length of the flagpole and the one closer to the neckline is without including the wick…hard to say which one is more valid as of now. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
1
Recent Judge statements in Library case create bullish sentimentThe Judge with the assistance of John Deaton via amicus, got the SEC to agree that sales of library credits from the secondary market do not constitute a security and since that news came out lbry has had a big pump here. You can’t see it here on the weekly chart, but on the daily time frame we have also just seen one of the biggest daily volume candles we’ve seen in a long long time on lbry suggesting that there are good odds it will find a way to confirm this double bottom pattern and also likely validated the breakout from this pattern as well y breaking above the channel shown here on the weekly chart. Of course the fed could manipulate things with more rate increases or a black swan could occur that nullifies the newfound bullish momentum but barring those 2 things I would say probability should favor an eventual breakout of this pattern. *not financial advice*
by DrDovetail
Gold has broken up from the descending channel.Hard to say whether or not it will reach its full target, but seeing as how it is already pretty close to that target, the risk to reward ratio of trying to jump into the trade now in hopes that it will is not worth the risk imo. As a long term hold I still see gold as a wise investment though so it wouldn’t be the worst thing to buy some here and maybe wait for a correction after this breakout move to accumulate more. *not financial advice*
OANDA:XAUUSD
by DrDovetail
Weekly chart on Public Storage reaches key fulcrum pointAh yes, the classic bullish falling wedge overlapping a bearish head and shoulder pattern; tale as old as time. We can see price action here on the weekly chart is getting very near the apex of the falling wedge….however it has also closed several candles below the neckline of the h&s pattern. Still not certain which of the 2 patterns will win out but it does appear the decision is very likely to be made within the next 3-10 candles. For the falling wedge to win and a break upward it is imperative priceaction holds support on the blue 200 weekly moving average. If this is flipped to solidified resistance then probability will favor the head and shoulders breakdown. *not financial advice*
NYSE:PSA
by DrDovetail
XRP appears 2b triggering a double bottom brkout on weekly chartWe can see the double bottom formation pretty clearly hear on the weekly chart…its not as obvious on the daily so I chose to post this idea from the weekly time frame. We have two potential targets here for measured move. We also have a potential resistance zone just before the 1st target at 48 cents. This is where the 1day 200ma (not shown here) currently resides. I anticipate it will offer at least temporary resistance. Both of these measured move targets are above it though so ultimately I think we will at least overcome the 200ma long enough to hit the first target. *not financial advice*
FTX:XRPUSD
by DrDovetail
Weekly candle above the falling wedge. Which target more likely?We can see one of the most common bull/bear combos on the weekly chart here. It is the bearish H&S pattern, with a bullish falling wedge overlapping it. We have been below the neckline of the H&S pattern for awhile now, however as you can see the measured move for these and shoulders pattern is negative 589…which greatly increases the probability that we wont be getting anywhere close to 100% of the breakdown target. When bearish patterns don’t hit 100% of their target, it is a sign that either we are still in a bull market or the trend is about to change from bearish to bullish. I personally think that the 63k breakout target of the falling wedge is more likely to hit 100% than I think the h&s will. . .the fact that it is says 589 is slightly intriguing considering how that number has gained cult significance in the xrp realm of crypto but I’m pretty sure sure it would worst case scenario never go negative and instead just do what luna did and start adding more zeros after the 0. Decimal point. However I don’t think the whales would let bitcoin go to zero without at least one more exponential hyperparbolic bullrally if not several more. All these things collectively make me a firm believer the falling wedge breakout is far more probable than the h&s reaching this impossible negative target. *not financial advice*
BYBIT:BTCUSD.PLong
by DrDovetail
Here is the falling wedge we currently have 1 daily candle aboveThis is the larger falling wedge that current price action is above on the 1 day chart. We haven’t confirmed a breakout of it yet but with the smaller bullflag and double bottom patterns looking like they will validate and take price to 26.3k, there is a good chance that after we correct from that zone that when price action comes back down to retest the top white trendline of the wedge it will be flipped to solidified support, at which time we have a real chance of validating the breakout from the falling wedge. Should the falling wedge confirm a breakout then the target is above 60k! Not confirmed yet but starting to increase in probability as each day passes. *not financial advice*
COINBASE:BTCUSD
by DrDovetail
1
Inv h&s on xrpeth pair on the weekly chart.We can see price action on the weekly xrpeth chart is peeking above the neckline of an inverse head and shoulder pattern here. If we can close this weekly candle above it and see a bullish volume impulse on next weeks candle we should be able to confirm this breakout which has a target that would lead to xrp gaining 59% in value against ethereum. For now this isn’t confirmed, however you may have noticed I posted a chart a few weeks ago that showed xrp should be making even bigger gains on ethereum than that based on the triangle pattern it had broken above. So with that in mind, it doesn’t surprise me that we’ve seen this many daily green candles on the xrpeth chart and increases the probability of this inverse head and shoulders pattern getting validated. For now we must await the pattern validation *not financial advice*
by DrDovetail
Where the green line intersects the brown line. I feel like this would be a great spot for a potential end to the current correction. It is a convergence of two major trend lines. The green trendline being the top trendline of the wedge we broke out of a few weeks ago and the brown line being the bottom trendline of the channel we’ve been in forever now. Price action loves to retest the top trendline of a wedge after breaking above it before fully validating the breakout and has yet to do that on the weekly chart here so what better spot for it to retest that trendline than where it overlaps this other trendline that has been proven to be huge support time and time again. If we do confirm the breakout there are 2 potential measured move targets. Both targets depend on which bottom trendline of the wedge is most valid. The other lower green trendline, or the pink trendline. If the pink trendline is the more valid then we have a higher potential measured move target. The green one appears to have slightly more key touches but the pink one creates a shorter wedge and the point of breakout from the price action makes more sense in the shorter wedge as opposed to the longer wedge in which it feels like the breakout would be occurring far earlier than normal. Also if the pink line is the more valid bottom trendline, we can see its measured move target would take us exactly up to the top brown ascending trendline (aka top trendline of the brown rising channel) if price action were to reach the target at the same time the pink dotted measured move line’s trajectory does. That’s added bullish confluence that helps to increase the probability that the pink trendline could be the more valid of the two bottom trendline to the falling wedge. I would definitely prefer the pink line to be the more valid since it has the higher breakout target. Of course, as always there’s always the chance these patterns could break downward and confirm a bear market. I would still be leaning bullish myself until I saw a lower low formed as well as a weekly close or 2 below the bottom brown trendline though. *not financial advice*
KRAKEN:BTCUSD
by DrDovetail
ZILUSD with a pump no one expectedOn the 1 day chart it was hard to find a legitimate chart pattern to justify ZILUSD’s sudden pump here but once one flips to the weekly chart this pattern emerges. This triangle is probably more valid on either the 2 week or 3 week chart than it is the 1 week considering how many weekly candles we closed outside the triangle before we saw the breakout. Judging by this pattern ZILUSD still has a little more room to move up on this current breakout *notfinancial advice*
ZLong
by DrDovetail
A potential weekly chart double bottom on zecusd forming as wellThis weekly chart double bottom is much more massive and currently far more speculative than the 1 day chart double bottom I posted an idea about just before this idea. However I felt it worth mentioning as it would be fun to see this actually unfold then come back to this idea later to click play on the chart and see the pattern play out from its second bottom. If this one were to play out, then ZECUSD’s target would be $520. Of course again, this one is much more speculative at this point, but still worth keeping an eye on. *Not financial advice*
COINBASE:ZECUSD
by DrDovetail
1
4 potential targets for the current triangle/bull pennant on btcI have the weekly timeframe pulled up here because I can’t access the 3 month on this account currently. This ascending triangle pattern probably looks even more convincing on the 2week or 3 week chart. It still is pretty evident here to. The way price action has come back to retest this white diagonal line however may mean that the triangle ends up being more valid as a symmetrical triangle. If this is the case, I have calculated where both it’s symmetrical triangle’s target on it’s own would be as well as if that symmetrical triangle was a pennant where the target would be with dotted white lines/price tags. I used tan to show where the targets would be for the ascending triangle and corresponding ascending bull pennant. I think there’s still more upside to this bull market but nothings certain until we can flip the top trendline of the ascending triangle pattern to solidified support as well as see some sort of bullish impulse not long after that to confirm. My bias still has me leaning bullish but we will see. not financial advice. BUy any dips at your own risk.
BITSTAMP:BTCUSDLong
by DrDovetail
A few potential patterns for ETHUSDI’m keeping this neutral until we see confirmation either up or down. These are the current trend lines in play on eth usd. We can see we have two potential bullish continuation triangle patterns: A potential symmetrical triangle and a potential ascending triangle. We also have a bearish rising wedge in play, with the possibility of two potential top trendline s to that rising wedge…the bottom trendline seems very defined at this point. As we have seen already multiple times in the bull market, sometimes we actually break upward from rising wedges in a bull market. So I have posted the measured move targets or if we break down from the wedge but also if we break up from the wedge as well. We are currently confirming the symmetrical triangle and ascending triangles top trendline s as support which is a win for the bulls as long as we maintain that support…however that will be much more likely to be sustained once we can overcome the two potential top trendlines of the wedge and flip them to support. or now I must remain neutral, for even though I am overall bullish on eth, btc and the majority of the crypto market…one black swan event could easily interrupt it with a bearish plummet in price action.
BITSTAMP:ETHUSD
by DrDovetail
LINKUSD forming a h&s inside a symmetrical triangle on the 1wkWe can see on the weekly chart that LINKUSD has formed a symmetrical triangle(bullish) with an ascending head and shoudlers pattern inside it(bearish). When we take a measured move o each patterns potential breakout target we can see that the bullish symmetrical triangle pattern has a breakout target of around $75 or so (depending where it breaks up from the triangle at). Transversely, the bearish head and shoudlers breakdown target is roughly negative 19 to negative 20 dollars. When we consider chainlink’s utility and fundamentals, to em it is clear that probability much more highly favors a break to the upside instead of a break that would take it into negative territory. *not financial advice*
COINBASE:LINKUSDLong
by DrDovetail
11