DrDovetail

DrDovetail Updated 

We can see the initial target for the double bottom breakout has been hit. Now the question is whether or not the higher target which is the Inverse Head and Shoulders breakout target will be hit or not. Odds are good it will be, however we may see a retrace first.

DrDovetail Updated 

In order to do so however it must first break out o this cup and handle pattern it has been forming. Many alts at the moment including Ethereum and Tezos are in similar cup and handle patterns. Just waiting on price action to firmly break above the rimline o the cup and lip it to solidified support first before we can confirm the breakout. It could take it’s sweet...

DrDovetail Updated 

Of course I won’t be taking this pattern seriously until I see a clear break above the rim line and then witness the rim line get retested as solidified support. Until then a variety of things could occur to invalidate the pattern. As of right now however it is looking pretty promising and worth keeping an eye on. Until then I will remain neutral.

DrDovetail Updated 

I was looking back through my ideas and realized I didn’t see a published version of the breakout targets for the weekly bull flag I’ve been watching for awhile now…So I decided to post one now. I’ve been saying this for months now but once we flip the top trendline of the channel which is also the flag of the bull flag to solidified support thereby confirming the...

DrDovetail Updated 

I placed the dotted yellow measured move line slightly lower in the previous idea than where we actually broke out as shown here on the current chart and have readjusted the dotted yellow measured move line to the actual point of the breakout giving us a slightly higher measured move target of 53690. We can see here we have closed a large green daily candle above...

DrDovetail Updated 

As I have shown extensively in previous ideas, we broke up from this green channel in August. We are finally nearing the point where we should be reaching the measured move breakout target of 64150 in the next few days. This should allow us to retest the ATH for BTC. A correction is to be expected afterwards at that point but not guaranteed. If we were to correct...

DrDovetail Updated 

Been watching this inverse head and shoulders on btcusd in addition to the myriad patterns I’ve already posted ideas on. Just yet another bullish pattern overlapping all the other bullish patterns to add even more bullish confluence.

DrDovetail Updated 

Odds are good i we continue to consolidate inside this descending channel(in green) that we will find support when once the 1 day 50ma (in orange) converges with the bottom trendline of the channel around 55944-56k or once it enters inside the channel. So my guess is the bottom of the handle will be around that 55.9-56k range. Of course it could also do a bear...

DrDovetail

Cup and handle on the weekly for the total market cap chart. Target is 3.8 trillion. Looks confirmed. *not financial advice*

DrDovetail Updated 

Check out this beauty. A nice,slightly downward tilted cup and handle pattern on ethereum. We can see the handle of this cup and handle is also an inverse head and shoulders pattern, and that inv h&s pattern looks like it’s about ready to trigger/confirm its breakout. If it does the measured move target is right around 4700. If it therefore confirms that breakout...

DrDovetail Updated 

just playing around with the fib channel here on the log chart until i found some consistency...i noticed that the blue .786 fib was the top of the 2013 false top and the 2017 true top. I also noticed that in 2013 after the false top it took 7 more monthly candles to reach the true top and wen it did it rose up 2 extra fib levels/colors before it hit that top in...

DrDovetail Updated 

We can see here how once shiba inu broke above the neckline of the cup and handle it formed it skyrocketed and well overshot its measured move target. However now that it is correcting that same measured move target zone it over shot is now acting as support. Which goes to show us even if price action well exceeds the projected breakout move, the target can still...

DrDovetail Updated 

This is a classic bullish pattern domino effect. I everyone of these patterns breakout points converge like it appears they very well may, as one pattern reaches it’s measured move breakout target it will rigger the other pattern and so on and so forth. Ultimately, we need the pink horizontal line(inv h&s neckline) to be flipped to solidified support long enough...

DrDovetail Updated 

The breakout is by no means confirmed yet. However once it is it can climb all the way to $1.93-2.00! This is what the pattern looks like on a weekly chart, and I wouldn’t be surprised i it was more o a 2 week chart pattern. I so this may take multiple weekly candle closes above the neckline before it triggers the breakout. I think loopring’s all time high was...

DrDovetail

Dotted yellow line leads to the c&h breakout target. Dotted green line heads to the bull flag’s breakout target. We are already above the bullflag pretty significantly, and to get to the bull flags breakout target we would have to both breakout of the cup and handle as well as reach it’s breakout target first. So great bullish confluence to increase the...

DrDovetail Updated 

It is a descending Adam and Eve double bottom so uglier than the usual textbook Adam and Eve but as long as the rest of the crypto market breaks bullish it should operate the same way a normal Adam and Eve pattern would. Of course it hasn’t even really breached the neckline yet so its nothing to get excited about just yet only something to keep an eye on for now.

DrDovetail Updated 

Also confirming the bullish breakout of its triple bottom! The dotted green line shows us our bull pennant measured move target and the dotted grey line takes us to the breakout target of the triple bottom. In, reaching our triple bottom breakout target it should very likely confirm the breakout of the bullish pennant as well and continue to send ethereal to new...

DrDovetail

With the current $4,000 correction in the bitcoin price that I was anticipating shortly after we achieved the higher high / new all time high, we have now officially started forming a handle to the cup we just completed. I was not anticipating we would go all the way to 57k before the correction however. Because o us reaching 57k first the rimline of the cup now...