DrDovetail

DrDovetail

The total2 h&s pattern has a perfectly level neckline and price action is now going down to test it right now. I will not be bullish or bearish on the overall market until I see it confirm either a breakdown or fakeout from this pattern. I think whatever happens on this pattern will likely give us a heads up on which direction bitcoin is going to ultimately head....

DrDovetail

Looking here on the total2 1day chart(which excludes bitcoin) we can see the altcoin market has recently had a deathcross and has been sending wicks down below the neckline of a sizeable h&s pattern...yet today the Altcoin market finally got a bounce....it appears maybe one of those situations where it's always darkest just before the dawn and that as long as the...

DrDovetail

bigger triangle breakout anticipated now that the 2 horizontal resistances have been smashed through target 30-31 cents...this could also just be the beginning of a breakout similar to the one we got last September around this same time .

DrDovetail

We are finding resistance at my exact breakout target for xrp. However, if we can flip the 1 day 50ma to solidified support then we should be able to eventually overcome this horizontal resistance...as we can see there is a 2nd horizontal resistance just above it though so it will not be easy...for this reason I'm leaving this idea neutral even though I am most...

DrDovetail

We can see now after a very weak "breakout" from the 4hr chart falling wedge that it is the 1 day chart bull pennant that is still very much the dominant chart pattern at the moment. The good news about that is the breakout target should be much much higher than the falling wedge's target would have been. The bad news is the pennant is a descending triangle which...

DrDovetail

A great sign as it appears BTC is finally breaking up from it's falling wedge. It appears the biggest of the potential falling wedges(the dotted purple one) may be the most valid...in which case the projected break out target is around 10.6-10.8k. This should allow us to break up from the 1 day charts green bull pennant too at the very last minute which should...

DrDovetail

Definitely in some form of falling wedge and seeing as how we've ben in a bull mark most of the year probability is very good of this eventually breaking to the upside...the trick is figuring out if the falling wedge is more valid by candle bodies in which case it is either a 1hr or 2hr chart pattern...or if by wicks it could be a much larger wedge that is more...

DrDovetail

looks bad for the bulls right now but price action is still very much inside this 1 hr falling wedge after the recent breakdown fakeout. I assume price will also climb back inside the 1 day bull pennant as well before the close of the current 1 day candle.

DrDovetail Updated 

Bear trapped confirmed as the 1 day candle that dipped down ad filled the 10.1k gap last night bounced all the way back up to close inside the bull pennant as I was expecting. We also hav a 4hr golden cross due to occur in the next 4-8 hours which I think will instigate a bullish breakout from this pennant.

DrDovetail Updated 

We can see many positive signals here for the bulls on btcusd on both the 4 hour chart(shown here) and on the 1 day chart right now. On the 4hr we can see how price action has finally overcome the 4hr 200ma's resistance and we can also see that a 4hr golden cross is in the works with a current trajectory placing September 9th as the day of the cross. We can also...

DrDovetail

XRP finally sees a bullish sign as it appears it will likely trigger a breakout from this wedge and rise to the 28 cent area where it will likely be met with strong resistance from the 1 day 50ma and 2 horizontals right in that same region.

DrDovetail

green horizontal still maintaining great support. the 1 day 50ma(in orange) continues to grow more and more parallel with the ascending red neckline double reinforcing boths levels of support: price action could continue to grind slowly up the red ascending line and form an symmetrical bull pennant it should ultimately pick a direction by the time it reaches the...

DrDovetail

we can see here how the neckline of this inverted head and shoulders pattern(in yellow) converges with the top trendline of the green symmetrical triangle pattern. My presumption is this is where it will complete the head of he pattern then see a slight pull back to create the right shoulder...my guess is the the peak of the right shoulder will be somewhere near...

DrDovetail

Very positive sign here as we not only were able to crawl back inside the green symmetrical triangle pattern and prove the breakdown of that pattern to be a fakeout we also have managed to do the same with the big red ascending head and shoulders pattern before today's 1 day candle close; essentially confirming it's breakdown to have been a fakeout as...

DrDovetail

We can see here on the 1hr chart that this 30minute chart inv h&s is trying to trigger a breakout and the current 1hr candle does have some convincing volume behind it. The reason for showing the 1hr chart is 2fold. Firstly, this 1hr chart 200ma(in blue) is clutch support...to sustain this inverted head and shoulder breakout all we need is for the 1hr 200ma to...

DrDovetail Updated 

Shorterm looking pretty bearish in the near future we should resume bullishness however save for any unanticipated fakeouts. The biggest potential bear threat is the head and shoulders on this chart...were it to somehow actually trigger the measured move would be 5k....probability favors any "breakdown" of the h&s to be a fakeout so if price action dips under the...

DrDovetail

breakdown no confirmed just yet but probability is definitely favoring it now as we can see price acion now firmly under the 4hr deathcross. If price action cant climb back above that deathcross then both the bearflag breakdown and he death cross will be sustained/confirmed. this is the perfect spot if the breakdown is confirmed for price action finally reach that...

DrDovetail Updated 

The bull flag definitely seems like it wants to trigger a bullish breakout here. Of course being still in the last 10 minutes of the 1 day candle anything can happen and we must remain patient and balanced until we get a better idea upon the daily candle close...we also need to keep a close eye on the top trendline of the broadening wedge's resistance(in red), and...