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1wk

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
giant bull flag has a target of 77k if confirmedlots of bullish confluence at the moment and this is our third overlapping bullish pattern right here that we are currently breaking out of...It is also a valid bull flag on the weekly chart as well but I chose to show it here on the 1 day timeframe to better illustrate the trendlines of the flag. not 100% validated just yet but looking good and with all the other pattern breakouts acting in concert with this we have enough bullish confluence to greatly increase the odds of this breakout being validated. Probability currently favors a breakout to the upside....if this occurs we should head to 77k...however we must remember that this could be more valid as a weekly chart pattern then a daily chart pattern so the climb to reach the 77k target could take several weeks. *not financial advice* .
GEMINI:BTCUSDLong
by DrDovetail
3
3 White Soldiers on the weekly chart?3 green soldiers aka 3 white soldiers is a very bullish pattern. They also say this is a reversal pattern but we haven't had much of a downtrend from which to reverse from...hard to count the the 2 weekly red candles before it as a downtrend...but being that we are in the vertical part of the bull run parabola odds are good that this pattern should still result in bullish price action from here even through we are more or less still in an uptrend. I am unaware of whether or not a measure move can be taken from this pattern but if someone knows please let me know down in the comments. Thanks for reading *not financial advice*
GEMINI:BTCUSD
by DrDovetail
2
XRPUSD still consolidating in a 1wk bullflag w/a target of .6368I think XRPUSD will continue to consolidate sideways for a week or 2 or 3 finding good support on the weekly 50ma...and once it nears the last 2 remaining potential top trendlines of the 1 month chart's giant descending triangle we've been in for almost 2 years(the dotted yellow line and the pink log chart line), once it nears those w will s it start to gain the momentum necessary to break out of the weekly bull flag and thus the giant descending triangle...hitting the bull flags breakout target of $.63684 cents first and then likely one of the descending triangle breakout targets depending which one is most valid.
BITFINEX:XRPUSDLong
by DrDovetail
1
Impossible Inverted Cup&Handle on XRPBTC likely a 1week patternThe inverted cup and handle pattern on xrpbtc seems like it is more a 1week chart pattern or possibly a 3 day pattern meaning it can close multiple day candles under the rimline without triggering the breakdown to negative satoshis. If it's more valid as a 3 day chart pattern then we can close around 6 consecutive 1 day chart candles under the rimline without triggering the breakdown. If it's a 1 week chart pattern we can close 13 consecutive 1 day candles without triggering a breakdown so keep that in mind. I think we are pry much bottomed out because I don't think we can trigger this pattern and had to negative satoshis...however if its more valid as a weekly chart pattern we can close a lot of 1 day candles in a row under the rim line and make it seem like we're gonna break downward so keep that in mind and dont let them shake you out of your xrp positons...he bottom of xrpbtc is likely very near.
Long
by DrDovetail
1