DrDovetail

DrDovetail

It isn't as apparent just by watching the btc.d (bitcoin dominance) chart until just recently but we can see on the total2 monthly chart (every crypto except btc) that we have been in a healthy alt season for several months now. We can see just as many impressive consecutive green monthly candle closes on total2 as we can on btcusd and it looks like the total2...

DrDovetail Updated 

so far the 1 day 50ma is holdding support...not saying it will but if it can then we should be able to confirm a breakout from this speculative bullflag we might be inside right now.

DrDovetail Updated 

lots of bullish confluence at the moment and this is our third overlapping bullish pattern right here that we are currently breaking out of...It is also a valid bull flag on the weekly chart as well but I chose to show it here on the 1 day timeframe to better illustrate the trendlines of the flag. not 100% validated just yet but looking good and with all the other...

DrDovetail Updated 

I give it no later than the 11th-12th of this month for xrp to finally break above this pattern 58-59 cents is the target here. Of course no bullish breakout has been confirmed yet meaning a fakeout resulting in a breakdown instead of up is still potentially in the cards. I will be waiting an obvious breakout one way or the other however probability currently...

DrDovetail

this trendline on btcusd's weekly stochrsi has held very significant support in the past and it seems to be doing the same now. If it does hold support on this line I anticipate the next few weeks to be bullsh ones.

DrDovetail Updated 

were this to happen it would still not break the bullish momentum as 47k is still just a higher low on the daily chart. I would have to dip below 42900 to form a lower low, so this pattern can very likely validate and price action drop to even as low as 43 k and we would still continue to be bullish. I wouldnt be alarmed unless I saw price action below 42.9k I...

DrDovetail

Much in the same way ETHUSD has broken above its 3hr inverse head and shoulders pattern, BTCUSD is now following its lead. No confirmation this breakout will validate just yet but it is lookign quite promising. If it does indeed validate which probability currently favors the target is 63k *not financial advice*

DrDovetail

Considering the h&s pattern is so blatantly obvious while also in a bull market is reason enough to be slightly cautious here... when you throw in the bullish divergence with that (yellow trendlines) the confluence really increases the likelihood of a fakeout...I think it's also probable we could get a breakdown that doesn't reach its full target as well. For now...

DrDovetail Updated 

3 green soldiers aka 3 white soldiers is a very bullish pattern. They also say this is a reversal pattern but we haven't had much of a downtrend from which to reverse from...hard to count the the 2 weekly red candles before it as a downtrend...but being that we are in the vertical part of the bull run parabola odds are good that this pattern should still result...

DrDovetail Updated 

If the rising bull pennant is indeed the dominant pattern we could go as high as 60k here. It seems yet again during this bull run price action is breaking up from a rising wedge which is normally bearish under any other non parabolic circumstances. *not financial advice*

DrDovetail Updated 

Ethereum looks set to make massive gains against bitcoin here if it validates the breakout from this weekly inverse head and shoulder pattern that price action is currently above and has in fact just closed 1 weekly bull candle above. On the new weekly candle there is a chance that priceaction could come back and retest the neckline before confirming the breakout....

DrDovetail

As with every potential h&s we must wait until we see a clear validation of the pattern triggered before we can act on it...also wise to never presume a h&s until the peak of second shoulder has already been formed. This is worth keeping an eye on though in case it reaches that point. Props to @XPCollector7 for spotting this one. Will definitely be keeping a close...

DrDovetail

Being that we are still in the thick of the bull market, probability favors this eventually breaking up....if it breaks up where I have marked the dotted green line then the target listed here will be the measured move...however the outcome of breaking upward might be so obvious that the opposite happens instead so we must always wait for a confirmed breakout or...

DrDovetail

if we validate the current breakout xrp should head to .74 cents....still a chance for a fakeout here but probability is currently favoring the breakout now that price action seems to be heading to 52 cents.

DrDovetail

$57688 very possible here when we take the weekly xbt chart and simplify it down to the basic horizontal bullflag pattern price action just confirmed the breakout from.

DrDovetail Updated 

if this symmetrical triangle breaks bullish and validates the target is 50k. the 1 day 50ma (in orange)may be what finally pushes the priceaction up out of the triangle...of course we must also always entertain the possibility that it could still break down. Should choose a direction in the first week of feqbruarqy.

DrDovetail Updated 

If the inverse head and shoulders is the more dominant pattern we should break up sooner than if the ascending triangle is the more valid pattern.

DrDovetail

SSIA.