DrDovetail

DrDovetail

After some peculiar price action it now seems the most valid timeframe for a symmetrical triangle here is the 3hr chart. It is always a bit of a risk looking for a pattern on a 1hr chart so having to move to the 3hr chart to find a symmetrical triangle that was still looking valid doesn't surprise me.; In general I usually stick to the 1 day and 1 week charts but...

DrDovetail Updated 

On the 1hr btcusd chart we can see we have 2 possible symmetrical triangles in play...one measured by candle bodies and one measured by candle wicks. The one measured by wicks seems to be the most dominant at the moment and if it were to validate with a bullish breakout confirmation the target is 7500. However, there is also a chance this ascending triangle is...

DrDovetail

just a chart update to show you my 7247 initial target from march 15th has finally been hit on this latest impulse and hit almost exactly before the current wick. Took a lot longer than I was expecting but that's crypto for you.

DrDovetail

always wise to wait for bullish volume confirmation here but we can see the current 1hr candle retested the enckline and confirmed it as support...current resistance is the pink line directly above it if we can rise above that the inverse head and shoulders pattern will surely get validated. Initial target = 0.196 cents however should we reach that target odds...

DrDovetail

Phi once again proves why it is the msot revered ratio in all of sacred geometry as the bull pennant broke out of its falling wedge flag at the precise .618 fibonacci retracement level! Phi truly is the golden ration...target is the 6878 horizontal-7k or so.

DrDovetail Updated 

At least on the bittrex exchange we saw a ridiculously long bull wick recently on xrpeth...Afterwards we formed an equilateral triangle and both its bottom and top trendlines were drawn better by wicks than candle bodies...thus meaning we should measure the pole of the symmetrical bull pennant by the wicks as well...If this is indeed the case and we measure the...

DrDovetail Updated 

This is starting to look really ugly for bitcoin now as we are testing the neckline of what appears to be an upward slanted adam and eve double top. If we are to trigger the breakdown here we have a target of 4600-4700 which would be a horrible sign for btc as it would suggest a lower low from are most recent bottom is in store for price action. However we must...

DrDovetail

if the 6176 horizontal is solidified here as resistance the breakdown from the rising wedge will be a sure thing. the enxt su8pport down is 6k (in purple) and once we go below that we have a very real chance of triggering a double top which has a neckline at 5.6k or so...this may very well end up being our final capitulation if so.

DrDovetail

Bearish patterns and bullish patterns to look out for currently. Before it makes a decision the whales love to consolidate at 6666 as long as possible usually.

DrDovetail Updated 

if so initial target is 23 cents.

DrDovetail Updated 

After initiating the golden cross on gold it soon after break above the inverse head and shoulder neckline and then proceeded to reach the breakout target and a few pips above before correcting which to me signals this golden cross should likely be sustained.

DrDovetail

always a bullish sign..we also closed with volume above the 4hr chart falling wedge and the 1 day bull flag.

DrDovetail Updated 

We are headed for the golden pocket it seems but this top trendline of the descending channel could provide resistance for a bit first.

DrDovetail

ssia need the yellow horizontal to maintain support.

DrDovetail

Btc has broken above the purple horizontal resistance line with authority and will likely reach the descending green trendline but the yellow and red horizontals directly above could provide resistance.

DrDovetail

We could blast through this purple trendline but I expect it to hold resistance for now so I will be closing my longs temporarily here until we can overcome that resistance and taking profit while I can.

DrDovetail

Target 5700. The fact that the bull flag we seem to breaking up from now has a breakout target almost exactly the same as the previous bull flag we broke out from doubles are odds now of reaching the previous bull flags full target. I may start laddering out some of my long postitions around 5700 unless the liquidity solution announcements the fed are supposed to...

DrDovetail Updated 

We are also potentially forming a huge ascending triangle that could last until early April. Need to see more touches between now and then to be confident though.