DrDovetail

DrDovetail

For now this is still more speculation than anything else on my part...but I think with the current weekly bullflag and the 1hr cup and handle we have both having the exact same breakout target of 10.2k, it would not surprise me if it went slightly above that breakout target to reach a level with our previous lower high of 10.3-10.4k thus completing a bigger cup...

DrDovetail

The double top possibility for the bears has been eliminated as Bitcoin has once against surged passed the double top zone into the 9300s. Leaving only the cup and handle left of the two options; a great sign for the bulls. of course we need to make sure that price action stays above the rimline(horizontal pink line) in order to trigger the cup and handle...

DrDovetail

We can see here on the 4hr chart how the recent bullish breakout has reached the exact same height we reached on January 19th of 9190 before retracing opening up the possibilities here for both a cup and handle(bullish) or a double top(bearish. Currently I think the cup and handle has a higher probability of occurring. I anticipate that we will probably retrace to...

DrDovetail

IJust had a successful 5x long from 8200 to right where the candle wick has stopped here just barely shy of the falling wedge breakout target. I will now wait for a couple daily closes above the 1 day 200ma before reopening any long.....overall pretty satisfied with this one even if it doesn't hit the target with 100% accuracy(which it still very easily might)...

DrDovetail

I've seen bigger fakeouts than this so although probability is now heavily favoring a bullish breakout here it wont be until we flip the 8504 horizontal trendline back to solidified support that I am absolutely convinced that is the direction we'll be heading. So far however it is looking very bullish.

DrDovetail

As with most h&s patterns they are usually also accompanied by a potential falling wedge and this one is no exception. Hard to tell yet which pattern will win the battle so here are both potential targets:

DrDovetail

this pattern has not yet been validated quite yet but should confirm either the breakdown or the fakeout within the next 2-3 4hr candles max. Probability is currently favoring the breakdown and if that occurs the target will be 7.6-7.7k. A break downward here could also flip the momentum and lead to further downside from there with 7427 as the next potential...

DrDovetail Updated 

Price action headed back to the rimline. Needs to close a few consecutive 4hr candles above that line and have a surge in bullish volume to confirm the breakout. Fakeout still possible at the moment but wise to keep a close eye on this one.

DrDovetail

Looking pretty good for alt coins here as we can see price action is now abck above the weekly 50ma. If wee can close 2 consecutive weeks above this orange line here we should see alt season finally underway. we can see we appear to have finally broken out of the red falling wedge we were in here so that should help trigger sustained price action above the 50 ma...

DrDovetail

gotta wait for confirmation to confirm the breakout of course but XRPUSD is finally waking up here...if it were to breakout the target is 30 cents. As a sidenote, the TD Sequential(not shown here)m just recently flashed a buy signal on xrp as well giving a little more bias to a bullish outcome here...still wise to wait for breakout confirmation or fakeout...

DrDovetail

I anticipate we may even test the 1 day 200 MA (in blue) before any significant retrace. If price action can find a way to close more than 2 consecutive 1 day candles above the 1day200ma however this may be a legitimate breakout from the wedge.

DrDovetail

Hard to tell which one of these 2 current patterns is the more dominant chart pattern here but if the inverse h&s ends up triggering on the 1 day chart then the yellow ascending triangle here on the weekly will likely end up being the one that gets validated.

DrDovetail

ssia

DrDovetail

A look at a potential weekly falling wedge we are back inside. If valid we could potentially see price continue to grind slowly downwards until the middle of next year...Hopefully we break upwards from here but if not it will likely just be yet another chance to pickup crypto at a nice discount. **Not Financial Advice**

DrDovetail

If this inverse head and shoulders breakout is confirmed om the 4hr chart that breakout target should help price action to rise back above the yellow falling wedge that we are currently testing the bottom trendline of as support. If we can maintain support on the yellow falling wedge's bottom trendline then we should very likely trigger the inv h&s breakout which...

DrDovetail

After a big dump by btc price action has now fallen down to the 100ma which is current support. Just below that we have the weekly 50ma(in orange) it is more or less currently double reinforced by the fibonacci 7.2k golden retracement zone. Let's remember that when we retested this zone before the last big bull surge we didn't actually make it down to the exact...

DrDovetail

As anticipated we got some bounce love from the golden fib retracement level at 61.80%. However it has not bounced us high enough to reclaim the 1 day 50ma(in orange) as support just yet...Reclaiming that support is pivotal..If we can't flip it back to solidified support within the next 3-5 days then the bull market will likely be over...hopefully we will see a...

DrDovetail

If we can get the current 1 day candle to close above the rimline and then have the followup 1 day candle to confirm the rim as solidified support we should finally see the breakout that I've been saying to keep an eye on in my ideas for at least 2-3 weeks now.