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Golden-cross

A look at the XRPUSD pair almost at golden cross!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 upwards...you can also see here that if we were to break up from the falling wedge at this point where we are now testing its top trendline...the breakout target price would conveniently be right at the neckline of the inverted head and shoulders pattern now forming on the chart as well..We seemed destined to trigger the inv head and shoulder pattern on the xrpbtc pair so I think the xrpusd pair will inevitably trigger its inverted head and shoulder in the near future as well. So I think probability favors XRP breaking bullishly upward from this falling wedge fairly soon as well as a golden cross happening as soon as the next day candle to 3 days from now. Overall very bullish looking indeed.
BITFINEX:XRPUSDLong
by DrDovetail
Stellar achieves a gldncross! Rches brkout target of fllngwedgeFor those of us who were already holding some xlm the slight fomo above the breakout target that created the current candles bullwick would have been an excellent place to take some profit. Props to anyone who acted quick enough to take advantage of that. We can ee here though that much like XRP, Stellar has also triggered a golden cross on the 1 day chart and shortly thereafter has broken bullishly out of the falling wedge it was in. Now is a good profit taking zone because the target has been met , but for anyone thinking of adding stellar and the long term hodlers of stellar there is more bullish action to come after this current consolidation if probability wins out. The golden cross on the 1 day chart is an extremely bullish sign. I of course always wanna be prepared for the exact opposite outcome should this be a golden cross fakeout. If I was adding to my position here I would wait for an indication it will continue to break upward. If it starts to consolidate into a bull flag I would then wait for the clear break up of the bullflag to add to my position. for now I think I'm gonna trade my previous holdings into BAT and XRP since BAT has been listed on Coinbase and XRP has had a slight consolidation dip that to me is a smart buy zone considering it seems like it will sustain it's golden cross and the bullish news about r# and SBI. I will always try to retain a small foundational amount of stellar though as I believe it will likely serve as xrp's competition with xrp having the verizonesque dominance of the market and stellar being the more affordable less desirable alternative (TMobile).
Long
by DrDovetail
1
Golden Cross on 1 day chart official on XRP. The golden cross is now being shown on the 1 day chart. We also closed the last 1 day candle above the top trendline of the bull flag we have been consolidating in. I anticipate a confirmation of a bullish breakout of the bull flag on the current 1 day candle. We also have closed above a 4hr chart inverted head and shoulder pattern that had developed inside the 1 day bull flag. This is also bullish...but of course with both the flag and the inverted head and shoulder patterns we need confirmation on the next candles and also bullish volume to go with those candles as well. There is still a low probability chance that we could get trapped with a fake out but odds of that are very low. Worth being prepared for all the same though.
Long
by DrDovetail
2
XRP Golden Cross Trajectory Bumped up a day to November 1st.As we can see we are still inside the bull flag on the 1 day chart with the 1 day 50ma(in orange) acting as strong support and the 200ma(in blue) as resistance...based on the upward angle of the 50ma I have a feeling it will maintain support and ultimately push the price action above the 200ma and cause a nice bullish breakout from the bull flag which in turn should provide great rocket fuel for the golden cross. Currently because the prce action has remained above the 50ma it has risen the 50mas trajectory enough to bump the expected golden cross up 1 day from November 2nd to November 1st....At this point only a massive dip could prevent this cross. So there is a very high probability the cross will occur...however we need to remember that even though those are far more often bullish, there have been a couple instances in the past where the price has fallen after a golden cross and it ends up being a fakeout that just goes right back into a death cross a few days later. I'm pretty confident this golden cross will be sustained but will be prepared in case I see signs of a fakeout. You choose your own path as this is not financial advice and simply my own personal gameplan. Thanks for reading!
Long
by DrDovetail
XRP nearing what appears to be an inevitable golden cross. Moon?As the price action on the daily char continues, we can see the bull flag xrp is in is looking very likely that it could break upward. For many many days now the price has been moving steadily sideways keeping the trajectory of the 200ma(in blue) and the 50ma(in orange) completely in tact...I haven't had to readjust the angle of either of their hyphenated projection lines practically at all in many many days and now that the current price candle seems to be wanting to finally break upward above the bullflag, it only instills more confidence in me that we will see a golden cross occur either by the current trajectory of November 3rd or possibly even sooner if this flag breaks upwards. A golden cross has been very very bullish for XRP and the last 2 golden crosses we experienced on the 1 day chart happened right before the last 2 all time highs. So I'm fairly confident with a golden cross occurring here in early November that the next all time high will likely follow it. Of course we need to keep in mind that there have been 2 incidents int he past where shortly after a golden cross we nullified that cross soon there after with a death cross so it is indeed possible but there is far more probability we can sustain the golden cross once it occurs. Smart to be prepared for either outcome. 2 ways we wouldn't see a golden cross by early November would be 1. if the price suddenly plummeted exponentially(highly unlikely) or 2. If it somehow rose high enough to flip the 200ma's trajectory upward enough that the 50ma's trajectory couldn''t catch up to it(almost impossible) So overall probability favors moon time! Of course that's just my opinion not financial advice. Thanks for reading!
Long
by DrDovetail
BTC forming a very standard bull flag on the 1 day chartWe can see on the 1 day chart so far the pattern appears to be a very run-of-the-mill bull flag. However the pole on this flag is immense and if we do indeed break upward the momentum could take us back above the 1day 200ma(in blue) and up to the 7.2k region. Currently we can see the 50ma(in orange) has taken a slight downward trajectory, while the 200ma has started going sideways making our current chances of a golden cross at this trajectory not possible anytime soon with out an enormous bull surge in price action. Hopefully we will get one of those before year's end. Either way probability favors a break upward but we will have to wait and see what this bull flag wants to do before we can figure out which way its headed it could throw a few fakeouts along the way and even morph into a descending, ascending, or symmetrical pennant as the days progress. With such a long pole though it can continue sideways for quite some time as well before making its decision. Have patience and wait for a clear breakout that is backed by a surge in volume one way or the other. Good luck and thanks for reading! **not financial advice**
BITFINEX:BTCUSDLong
by DrDovetail
Xrapid live! 2 bullish long targets + golden cross symmetryWith the Garlinghouse announcement at SWELL that Xrapid is now live, the probability of this ascending bull pennant breaking up just increased tenfold. The breakup target from the pennant is the first green target the second is the target from the breakup of the old weekly descending triangle pattern we already broke out of. One thing in particular to take note of is the current trajectory of the 50ma and 200ma (in blue and orange) and how they symmetrically match the ascending triangle pennant but also the apex of the pennant is set to occur at precisely the same time as the golden cross of those 2 moving averages. Because of this I think the golden cross can likely occur at the same time we break out upward from the current ascending triangle. We will likely break upward from it sooner than the apex with the current bullish news, but if not I foresee us breaking upward by October 17th. From there we may see a retracement once the first target is hit, or we may just have a parabolic rise all the way to the second target...I would prefer a healthy correction between the 2 targets though to sustain the gains. If we just go parabolic the whole way we may experience a big dip to follow. So lets hope for a steady non parabolic moon.
Long
by DrDovetail
1
Rare analysis on LTC/ETH pairing; 1day C&H + Golden Cross We can see here on the 1 day chart of the ltc/eth pairing that we have a golden cross and an obvious cup and handle set up. Probability favors a bullish break upward above the rimline but you want to wait for 2 consecutive 1 day candles above the rimline to confirm the break because a fakeout is always a possibility even with a golden cross...if we break upward I have posted the expected price target here in the green box. The question is if the breakout does occur will LTC make its gains on ETH by ltc going up or eth going down
Long
by DrDovetail
5
Golden Cross on 4hr chrt as XRP clears 200ma on 1 day chartNow that we have hit over 50 cents and for a brief few hours xrp became number 2 over ethereum by market cap it is consolidation time....this is very healthy as both the 1 day and 4 hr charts were very overbought and we want xrp to sustain this price range and not just experience a pump and dump...SHown here is the 4hr chart to illustrate the 4 hour golden cross but on the 1 day chart the price action is also well above the 1 day 200ma now which if it can sustain these price points can and it just starts ceating bull flags that it breaks up from which judging by the weekly descending triangle pattern we busted up from it likely will then we should see a golden cross on the day chart before too long as well..hopefully by early october...a 1 day chart golden cross would be a mega bullish sign...and I'm still hopefull that we can climb back above $1 an even $2 within the next month or so....of course keep an eye ot for any bearish chart patterns to start forming to avoid any dumps that could occur with parabolic pumps....this one fortunately has decided to take a breather which means its price is more sustainable than if it had just continued to skyrocket.
by DrDovetail
4hr golden cross.We could potentially see like we did on a recent 4hr golden cross this year a sudden dump before we continue bullishly upward but right now things are looking rather bullish...either way we should be heading upward so I anticipate the majority of September being a bullish one. This is just my own personal inclination and in no way shape or form financial advice. We are currently in a higher low higher high pattern on the 4hr chart as well which means for now bulls still have control.
BITFINEX:BTCUSDLong
by DrDovetail
Golden cross next month If BTC triggers the inverted h&s patternWe currently already have the 1 day chart's 50ma trajectory tilted upward and the 200ma tilted downward at a steep enough trajectory for a golden cross to occur the 23rd of next month. However triggering this inverted head and shoulders could lift us above 7.3k and increase the upward trajectory of the 50 for the golden cross to occur even sooner. Seeing as how all the alts are doing phenomenal right now and XRP already triggered it's inverted head and shoulder pattern and hit its target I think it's very probable that BTC will be doing the same! Good time to go long. *not financial advice*
BITFINEX:BTCUSDLong
by DrDovetail
Correction continues; potential C&H + 3 possible support zones3 lines of potential support for this fall I'm seeing our number 1 at 7413 which is top trendline of the big descending triangle pattern / adam and eve neckline we broke up from # 2 is the 4hr 200ma at 7060-7080 #3 is the 1 day charts 50ma at $6853..to have a chance at forming a higher low on the day chart, triggering the current cup and handle unfolding and the 1 day golden cross one of these will likely have to remain support. If we can remain above the 1 day 50 MA then this will just be a correction that will inevitably resume the uptrend and the golden cross should occur hopefully sooner than originally planned, coupled with some positive ETF news to help us break out of this handle, break above the neckline and potentially trigger the cup!however a few closes under the 1 day 50ma and then we could be looking at an impending lower low on the 1 day chart. In the short term I'm short...but long in the longterm. Good luck and thnaks for reading! **not financial advice**.
BITFINEX:BTCUSDShort
by DrDovetail
Potential Inverted head and shoulders on the 1/4hr chartsWe got a nice little green impulse past couple candles with some very strange behavior going on with the orderbook over on gdax likely from bots.We can see now that we are a bove a very ugly looking inverted head and shoulder pattern but we can also see the 4hr stoch rsi is overextended and must eventually drop sooner than later. If we can maintain the price action above 6250 for the next couple 4hr candles we should see the inverted head and shoulders triggered which could take it to potentially the 6700s if so. There's an equally good chance however it could be a fakeout and a deeper dip could be on the way below our last low after simply forming a lower high here. For us to form a higher high we would need to impulse above 6.8k not impossible, especially if the inverted head and shoulders is triggered...probability still favors the bears at this point but I will leave this idea as neutral for now. Somehow even though the adam and eve double bottom has sadly been invalidated we still have a chance to trigger a triple bottom. if the triple bottom doesn't occur...I still think we will see a bullish turn around within a weeks time or so simply because the 200MA on the 1day chart is now starting to finally curl downward...it is still currently factoring in all price action from December 7th to now...but once it no longer factors in anything from before December 15th we should see a noticeable drop off on the 200MA, and if we simultaneously are going up ward enough to get the trajectory of the 50ma to point upward then we should see a 1 day golden cross sometime in July which will be a great sign for the bulls and potentially restart the bull market. For now, however I am neutral.
BITFINEX:BTCUSD
by DrDovetail
Inverted Head & Shoulder Pattern flirting with neckline.If we trigger a bullish break upward from both the inverted head and shoulder pattern and the falling wedge pattern we will next be testing the much larger triangle pattern we are inside's top trendline. Breaking upward from the bigger triangle pattern has the potential to take us to 20k+ and saeeing how we are nearing it's apex as well I think up is going to be the path of least resistance and still am fully behind my mantra of "To the Moon In June!". Also, the original pattern of the Adam and Eve double bottom is still very much in play and I predict all of these bullish patterns will be triggering in the next couple months as well as the impending golden cross on the 1 day chart. As soon as the 200MA on the 1 day chart no longer factors in the climb to the ATH from november-first half of december. The 200MA should drop significantly and trigger the golden cross that will kick the bull market into gear. The 200MA is currently factoring in all price movement from November 13th of 2017 until today....so by July it should no longer be factoring in the climb to the ATH and the 200MA should by then definitely dip below the 50ma on the 1 day chart, if not sooner. Looks like it shold be a bullish summer.
BITFINEX:BTCUSDLong
by DrDovetail
2
1day Golden Cross developing as BTC bounces back to 1day tline. Staying neutral for now as we seem to have found a resistance at the 1 day charts t line(in yellow). We never hit the huge bounce support zone of 7,000 before this rebound so there's still a slight chance we could head back down to test it....however the 2 most optimistic signs I see right now is first, we are reaching the apex of a triangle that I think will most liekly break tot he upside, and secondly the 1 day 50MA(in orange) is heading upwards towards the 1day 200MA(in blue) and I don't expect the 200MA to suddenly start heading upwards since its gonna be factoring in the drops we had in January, February, and April pretty soon...in fact I think the only reason the 200 MA has stayed up this high to begin with is because it was still factoring in the uptrend from last year that led to the all time high...once the 200MA on the 1 day chart no longer stretches back to November or early December it will likely drop like a rock...but you can already tell with the 50ma(in orange) curving back towards the upside that we will be seeing a Golden Cross sometime next month. Once we get a golden cross on the 1 day Time Frame is when I believe we will officially enter back into the bull market. Everything in cryptoland is currently at a discount in my eyes and I'm hoping to enter back in at a wise time when we were below 7,100 was the most ideal time to reenter..however since we never tested that huge buy wall that's hanging out at 7k there's a chance we may drop back down one more time...I believe it's wise to ladder a small portion in right now, and then ladder in more if we dip to that again but I'm fairly confident we will be heading upward most of the month of June. . . and still stand by my mantra "To the Moon in June!" Stay strong make wise decisions, maintain nerves of steel, and keep your eyes on that 1 day chart golden cross scenario.
BITFINEX:BTCUSD
by DrDovetail
2
7263 seems like it could be the handle bottom. I was thinking any lower than 7350 would greatly decreases the odds of our cup and handle pattern because usually the handle does not go down further than half the height of the cup. However a cup and handle as wella s the double bottom for that matter is not truly invalidated until the price action has dipped well below the bottom of that patter so with are current low of $7263 (which is not all that far from $7350) We still very much have a chance of triggering this cup and this double bottom if we can go upwards from here. You'll notice the price action is currently inside a falling broadening wedge which is inside another falling broadening wedge..those patterns tend to break upwards..Of course we must keep in mind that the head and shoulders pattern we broke down from the other night should have sent us to the 6300s and hasn't reached that price drop target yet meaning there's still a chance that could happen. I hope not because it would essentially invalidate the Adam and eve double bottom we've been following since April if it dipped that far but we must still be prepared if that were to happen. Bulkowski gives the head and shoulders pattern a 55% chance of meeting it's price target so this could also just be one of the times where it is in the 45% and doesn't meet it's target. If so now is a great time to get a discount and add to your position but I would wait until we see the next clear break one way or the other then choose what to do as far as exiting or adding goes. One other positive sign that I think will ultimately bring us up out of this mess is that on the 1day chart(not shown here), the 200MA is finally starting to turn downward and change its trajectory while the 50ma is on it's way up...if the 200ma and 50ma maintain or increase these trajectories we should finally get our golden cross on the 1 day chart within the next 2 weeks which should jumpstart the market again and allow us to climb back up to the adam and eve neckline which currently sits in the 9400s and because of its downward slant, is going to be easier to reach as each day passes. So despite us going below $7350 I'm still confident we can find a way to validate the cup&handle, and the adam and eve double bottom, but also fully prepared if the head and shoulders reaches its projected target. I hope you are too in whatever path you choose, and that choice will be yours alone as this is not financial advice. Best of luck and thanks for reading!
BITFINEX:BTCUSD
by DrDovetail
2
Head & Shoulder, Ascending broading wedge, and 4hr golden cross.On the 4 hour chart here you can see the head and shoulders so far has avoided being triggered after the 4hr candle price action rose back up above the head and shoulder neckline before 3 closes..However on the current 4hr candle, it is now dipping back below the neckline so odds are good it will eventually still break down from the current broadening ascending wedge wedge which when it comes to ascending broadening wedges 76% break out in the same direction as that leading to the pattern which in our case is downward...so currently probability favors more downside but as you can also see we just now on this candle have an official 4hr golden corss of the 50MA moving above the 200MA...such a cross is more effective when it happens on the 1 day chart but it also typically allows for some more bull momentum when it happen ons the 4 hr chart as well just not quite as effectively. Because of this golden cross I think it's very likely that zone could act as strong asupport when the price action breaks down to it and could provide enough of a bounce/rebound back upward that we get back above the head and shoulders neckline before having a chance to trigger it for more downside...becoming instead a bear trap. We could also still dip below that and instead find support at either the ascending grey trendline, or ultimately the pink eve curved trendline....we could dip to those and also rebound back up before triggering the head and shoulders....however if the head and shouldersdoes trigger its projected fall could easily break nudner the pink eve trendline....then again since that trendline is somewhat of a projected line it can be adjusted a bit...possibly even enough to account for the projected fall of a head and shoulder trendline...however I'm fairly confident based on all the previous candle body touches that have verified that trendline up until now that its trajectory is pretty close if not spot on. For now I am going short expecting a fall at least to the 50ma, but also being prepared to pull right back out if it goes down further to get in at the pink eve trendline. You choose your own path of course because this is not meant to be financial advise. Thanks for reading and best of luck! I'm only short here for the short term...and think there's still a chance to avoid this head and shoulders.
BITFINEX:BTCUSDShort
by DrDovetail
3