DrDovetail

DrDovetail Updated 

Prop has technically already completed a right shoulder and currently has a decent sized green candle above the neckline. That shoulder is extremely small and disproportional to the rest of the inverse head and shoulder pattern, but I’ve seen even uglier looking versions of this pattern get validated so it is quite possible we could see it validate on the current...

DrDovetail Updated 

ABTUSD just recently hit the full target of its linear chart’s recent bull flag breakout and in the process filled out this beautifully sculpted cup that I thought would take several daily candles to complete a handle of before continuing to move upward….to my surprise price decided to only let the handle develop on the 30minute-2hr chart before breaking above the...

DrDovetail

As one can see here looking at this chart, the dotted light magenta colored measured move line is more or less being overlapped by the daily 20ma(thin teal line) for double reinforced support and at the current moment the 20ma is maintaining support for now. It wouldn’t surprise me if price eventually wicked below it to retest the inv h&s neckline as support since...

DrDovetail Updated 

We can see here if price action can break above the top trendline of the chartreuse bearflag by next week and then hold that trendline as solidified support, thereby confirming the bullish breakout, that the measured move of the break out would be identical to the measured move of the bullish breakout of the monthly pink falling wedge pattern. This is very...

DrDovetail Updated 

It looks like it is validating the break upward, full emasured move target can lead to 180% gains from current price range. Of course always possible it corrects all the way back don to the top trendline of the pennant before reaching the full target. If so that’s simply an opportunity to enter at a zone with even bigger gains potential. It could just as easily...

DrDovetail Updated 

Since 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...

DrDovetail Updated 

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...

DrDovetail

The Yen has taken quite a beating this year, but upon analyzing its price action I noticed it is currently inside a falling wedge which usually breaks upwards most of the time, so perhaps this pattern can help rescue it from further demise. We will know soon enough as its nearing its apex. *not financial advice*

DrDovetail Updated 

As with other gaming and metaverse cryptos, it appears Axie Infinity is waking up from its slumber as well. No guarantee yet that it wont take another temporary dip below the neckline before fully validating the breakout but it seems pretty likely that validation is near. It appears all the metaverse and gaming cryptos want to take the reigns of the market over...

DrDovetail Updated 

Pink channels breakout target is 13.232 *not financial advice*

DrDovetail Updated 

. . .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...

DrDovetail Updated 

Just as we are finally seeing mana pump and gala, we are now likewise seeing sand follow suit too as it seems to have finally broken up from the extended descending bear flag it was in for the longest time that I have posted charts about in the past. There are two possible measured move targets for the yellow channel its breaking up from. The dotted pink line...

DrDovetail Updated 

No guarantee it ont go back below the neckline once or even twice or thrice before the real breakout as such things are common, however it definitely looks like this current breach above the enckline could be the one that ends up validating. The breakout target once it validates is $171. *not financial advice*

DrDovetail Updated 

This bull flag target and then slightly above that is the double bottom breakout target. Price action seems to already climbing up the measured move line of the double bottom breakout so that’s a good sign that a breakout could get validated soon. Could definitely still correct back below the double bottom neckline once or twice first though if the bitcoin...

DrDovetail Updated 

As 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...

DrDovetail Updated 

I posted my previous Propy chart on here before realizing I had the chart mode set to logarithmic. Log charts also do usually reach their targets as well but sometimes it can take multiple bull runs to hit the really high targets on a logarithmic chart. So I thought it would be wise to switch the chart to linear and show what the linear breakout target would be...

DrDovetail Updated 

If Silver can confirm the breakout from where it has currently broken above the inv h&s neckline the breakout target will be $31. *not financial advice*

DrDovetail Updated 

Just 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...