DrDovetail

DrDovetail

We can see price action is breaking up fro a bullflag that has a target of 3.33 trillion. In doing so we should also validate the breakout of the cup and handle pattern which will give ita breakout target around 4.6 trillion or so. Price action is currently very close to retesting the green rimline of the cup and handle pattern and completing the handle. If we...

DrDovetail Updated 

Ihave arbitrarily placed the measured move line for the bullflag breakout in the month of October but there’s always a chance it stays in the flag longer than that, in which case the measured move line would get moved over to the right and slightly lower each time it does. If it breaks up by october and validates that breakout the measured move target will be...

DrDovetail

First breach of the top trendline of the descending channel here by the price action. We all know that price will often times dip back into a chart pattern after the ntial break above it so as of now we can’t yet say this validates the breakout of this pattern. Even though it’s more common patterns dont official validate their breakouts until the 2nd 3rd or 4th...

DrDovetail

Solana already with a strong green candle on the Daly right now as price action is currently above the brown rimline of the cup and handle. Will be interesting to see how quickly it is able to confirm the breakout, still not completely validated yet but looking promising on the daily chart(not shown here). Since these patterns seem most valid on the monthly time...

DrDovetail

I 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...

DrDovetail

Here on the monthly logarithmic chart we can see both the cup and handle and the bull flag that Bitcoin is starting to break upwards from. Both of these patterns are also very much so valid on the linear chart as well, but as usual, the logarithmic version of these patterns has a much higher ensured move target for their breakouts. While there’s a probability we...

DrDovetail

Not guarantee this plays out and usually nor wise to chase an inv h&s trade until the right should completes on the neckline, but considering the crypto market appears to be resuming its uptrend soon it does greatly increase the probabilities of this playing out so it’s worth keeping an eye on imo. *not financial advice*

DrDovetail

Got a potential double bottom developing indicated by the green trendlines and also a triangle pattern here the dotted measured move lines are the same color as their corresponding pattern. *not financial advice*

DrDovetail Updated 

After the recent correction,the previous idea about this cup and handle (which I will link below) which described this pattern as purely speculative because we had not yet started to form a legitimate handle,is now no longer speculative as we have retraced enough and for enough daily candles to consider the current price action a handle even if it breaks above...

DrDovetail

There are actually a few potential necklines in play here but I just went with the lowest neckline for this chart. *not financial advice*

DrDovetail

Target is around .179 - 18 cents. There is a larger falling wedge pattern currently playing out as well right now and its target is around 23 cents..on the way to that target we will first hit this inverse head and shoulders target. *not financial advice*

DrDovetail

Could also reach that full breakout target much sooner to but the trajectory of the measured mvoe line were it to validate the breakout above the rimline around the arbitrary spot I placed it at has the end of the measured move line in the year 2046. With the right scenario playing out on the global stage a price like that is possible much sooner even, and there’s...

DrDovetail

The same bullflag on the weekly chart that has a 99k breakout target morphs into a bullish pennant with an even longer flagpole on the monthly chart. If the bullish pennant were to confirm a breakout in the zone price action currently resides in, the breakout target for this monthly bullish pennant is around 115.9k! *not financial advice*

DrDovetail

Even though we are still inside the triangles on the logarithmic chart, we have now been above this key linear chart symmetrical weekly triangle now for 2 consecutive weekly candle closes, and sure enough the big dump that coincided with the SEC’s appeal found wick support right on the top trendline of this triangle retesting it currently as support. It’s...

DrDovetail

Price action is currently above the inverse head and shoulder neckline and has closed a couple candles above it on the daily timeframe. Often times price action will dip back below the neckline after this initial break above it so that is certainly possible here, however if it does validate the breakout without first dipping back below the neckline again here, I...

DrDovetail

Same pattern as my previous two chart ideas but this time shown on the weekly chart. All 3 measured move targets remain the same. *not financial advice*

DrDovetail

Just posting an updated version of this Also going to post a 1 month timeframe version of it and a weekly timeframe version of it to keep track of how it develops. We can see 3 main targets should the entire pennant be validated and not just the symmetrical triangle. First one is 10 dollars, then 33, then 609. These amounts can of course change somewhat depending...

DrDovetail

Horizontal green trendline and 200ma(blue line) likely to act as resistance on the way to the target. *not financial advice*