DrDovetail

DrDovetail Updated 

Not only is ETHUSD’s price action currently above the neckline(tan trendline) of a descending inverse head and shoulder. It’s also above the neckline of 2 different double bottom patterns. (Green and yellow horizontal trendlines). The right shoulder of the inverse head and shoulder pattern is actually also a valid double bottom pattern on the 4hr timefram(daily...

DrDovetail

It is overdue for a red daily candle, but its pump thus far has been impressive. The yellow horizontal trendline represents the neckline of the double bottom pattern the price action is currently painting. Odds are good it will trigger this double bottom in the near future but I anticipate a slight pullback prior to that. Of course it could defy that probability...

DrDovetail

This may be most valid on the 3 day chart but we are looking at it on the 1 day. We can also see the 50ma(in orange) rising up to eventually break above this enckline as well. If the breakout hasn’t been confirmed before then, the 1 day 50ma should do a solid job of catapulting it up towards the measured move target. Barring any crazy black swan events of course....

DrDovetail

Much like ethereum, Axie Infinity has an Adam and Eve double bottom, a larger standard double bottom, and an inverse head and shoulders all rolled into one. Unlike the ethereum inverse head and shoulders, the one here on axie may not be valid as it does appear that the right shoulder has a slight wick lower than the wick of the head…but if the inv h&s pattern on...

DrDovetail

Still heading up on its way.. got a few key resistances before the full target but I think we can send a wick above the 200 MA to reach it before the next consolidation or micro correction. *not financial advice*

DrDovetail Updated 

Luna completed it’s double bottom breakout with ease, and considering we only just recently shifted back into an uptrend I’m assuming this double bottom as well as several other cryptos double bottom patterns are likely to trigger as well. Of course, as always we should wait for confirmation of a bullish breakout from this pattern, not go off assumptions, and...

DrDovetail

Not enough volume yet to call this a confirmation of the breakout but that wick retest as support on the current candle is encouraging. If it triggers we will probably test the resistance of the 200 daily ma next around 47.8 - 48k. The 4hr chart symmetrical triangle(not shown here) we broke up from a week or so ago has a measured move target somewhere near 49k if...

DrDovetail

These seem like the most valid trendline for the avalanche usd pair on the weekly chart. If this is a valid pattern and the top trendline is correct then we should see the breakout confirmed by early April. If so the target would be $177. *not financial advice*

DrDovetail

We can see considerable amount of volume has accompanied the current big green candle that has broken above the Adam and Eve double bottom neckline here. This type of volume impulse usually signifies that a breakout of a pattern has been confirmed. However, this being only a 4hr timeframe, we must be prepared as always for the first breach of the neckline to...

DrDovetail

The red trendline on the handle could very easily get broken before price action makes it above the rimline of the cup but for now it is valid. The handle currently appears to be a sort of ascending triangle pattern. Considerable upside at play if this pattern validates. *not financial advice*

DrDovetail

This 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....

DrDovetail Updated 

Still inside the green wedge lots of other valid trendline currently in play too. Normally on these ideas I would delete all but one or 2 patterns trendline so you can see it clearly. This idea here is just mainly being posted so later when I click play on it I can see how many of these trendline s came into play. This is really just an idea posted for me to...

DrDovetail Updated 

Based on todays wick we may have just retested the top trendline of the wedge. However there is a chance this yellow trendline is a more valid top trendline and that we are already up above the wedge. I have included both just in case. Ultimately if we were to break above the green trendline here or in the next few days the measured move of that breakout would be...

DrDovetail Updated 

I personally feel like the falling wedge is going to prevail here with maybe a bear trap wick below the head and shoulders neckline. However until it has clearly picked a direction I’m leaving this idea neutral because we could very well trigger the head and shoulders pattern. If we were to do so, since we are currently still in a bull market the odds of it...

DrDovetail Updated 

We closed a few daily candles above the wedge, then as I anticipated we had a candle dip back down to retest the top trendline which ended up confirming solidified support. Two candles later we had our massive confirmation candle. It appears we have ended the downtrend here and turning the fulcrum back to resuming the uptrend. If so, and the bull market is still...

DrDovetail

On the log chart we can see xrpusd has been in this rising channel since it’s inception. Now, if it were to revisit the top trendline again the lowest price we would reach it at would be $138. Odds are it would retest the top trendline way later than that though. I know this price seems absolutely absurd but thats what this pattern is calling for. I will have...

DrDovetail Updated 

Ok so at this moment this thing is still speculative even though it is indeed a valid bullflag in its current form…,if it doesn’t break up out of the bull flag on the next retest of the top trendline then odds are pretty good the flag will then start to grow too long get nullified as a flag. It would still be valid as a rising channel though. Anyways, let’s say...

DrDovetail Updated 

You can see here on the weekly chart that price action has been respecting this rising channel for a bit. On a higher time frame than this, this channel may also very well be a bull flag as well. *not financial advice*