DrDovetail

DrDovetail

want to see some more confirmation on this one before I'm a 100% convinced but as of now that's the bigger picture. we can see how price action also came up exactly to the teal horizontal line and found resistance further proving the validity of that trendline as it has so many times before. we should break above it soon but not so sure if we'll be retesting the...

DrDovetail

just an update of the symmetrical triangle. The triangle has expanded which lessens the possibility of a bullpennants validity but lengthens the breakout target of the symmetrical triangle. Could breakout since there was a small pump before it formed but it could still be considered a continuation pattern for the downtrend as well..will wait for the break...

DrDovetail

looking like a symmetrical triangle on the 1hr and 2hr charts and possibly even a bull pennant on the 2hrchart I will start drawing down my longs at around 6.4k if I see that zone maintain resistance if it blasts through it I will wait for the bull pennant target to be reached....but first i will wait to see confirmation of a bullish breakout from the symmetrical...

DrDovetail Updated 

We are already seeing the follow up daily candle to our capitulation candle make massive moves in less than 3 hours times its climbed $1600 at this rate we could see an historic friday the 13th bullish engulfing candle on the daily...there's no guarantee capitulation is truly over but it sure seems like it. as always not financial advice and enter at your own risk...

DrDovetail

Looking very promising here lets see where it closes and what the follow up candle decides to do. BTC must be capitulating here I've never seen anything quite like this. Since its occurring due to a black swan event...we cant guarantee it will behave like a normal capitulation though so we must tread precautiously.

DrDovetail

looks like a bullish reversal candle of sorts as bittrex doesnt typically fall victim to flashcrash scam wicks like ethereum does. Neutral for now but won't take much to make my flip to long on this one just looking for some follow up confirmation on the next candle or 2. Massive bullwick and massive volume seems to hint at more to come.

DrDovetail

taking it back to the chart I had set up on coinbase we can see btcusd once again finding good support on the 200 weekly ma....we can also see the last time we tested the weekly 200ma was the current bear market bottom of 3.1k...and we can see what the eventual result was a big bounce to 14k. it is obvious hoe crucial it is for us to maintain this moving average...

DrDovetail Updated 

The 2 main gaps below (8.5k and 7.7k) have now been filled and in doing so on the weekend, we've now created a rather large gap above current price action that will eventually be getting filled as well. The question is whether or not there will be any further downside before that. We can see we are still well under a very a very precarious head and shouylders...

DrDovetail Updated 

If the weekly 200 ma flips to solidified resistance on the Dow Jones it's game over for the bull market. For now that's the final hope for this to be just another fakeout. If it fails we will see a 1day deathcross and likely a 1week deathcross as well.

DrDovetail

Always await confirmation of a breakout or fakeout before taking a trading action.

DrDovetail Updated 

I'm not marking this long until I see absolute confirmation of a breakout but if this is legit Link could fly as high as $8.42! Need to wait for a clear confirmation of a breakout though so for now this could easily end up a fakeout...w hich is why I will mark this idea neutral for now. Very possible it could confirm the breakout though.

DrDovetail

ltcbtc at a key fulcrum point. Needs to maintain support on the one day 200ma to trigger the falling wedge breakout and maintain the golden cross...if it loses 1day 200ma support then it will likely trigger the double top breakdown which could send it into a deathcross. If it did flip back to deathcross, that deathcross could still be more of a deathcross fakeout...

DrDovetail Updated 

Still a chance the 1 day 200ma may provide body support by the next 2 daily closes but in the meantime targets like filling the gap at 8.5k are veryr easonable...we also have the breakdown target from the descending purple channel around 8.3k if we were to go lower than these 2 the next target would be the golden pocket fibonacci retracement level at $7927 and...

DrDovetail

We are currently testing the top trendline of the rising channel here on the 4hr chart(in green). On the 1 day chart there's still a possibility it is the flag of a bear flag. Probability is higher that rising wedge will break down but only slightly in this current scenario. We could also be seeing an inverted bart pattern occurring here on the daily bearflag...

DrDovetail

I will await a breakdown confirmation but this recent bear volume surge and small bart we just saw definitely has me believing that a confirmed breakdown has the highest probability between it and a bear trap. Will await confirmation all the same though.

DrDovetail

the rising wedge has 2 possibilities for its bottom trendline. the longer one in light blue would have a much steeper fall to it. The shorter one that's an even lighter blue almost white color would have a less steep breakdown target but if it broke down from that wedge on the current 1day candle the target would lineup perfectly with our horizontal support at...

DrDovetail

doesn't get anymore exact.

DrDovetail

Exact breakout precision. Target hit.