DrDovetail

DrDovetail

4hr chart immediate timeframe is threatening a deathcross and we are currently in an ascending broadening wedge. Will have to wait until breakout or breakdown confirmation of the wedge to know whether or not the 4hr deathcross is more likely to be a sustainable cross or a fakeout. Should know in just a few 4hr candles from now

DrDovetail

Im not saying this is definitely the capitulation candle here but it feels like the ground floor at the moment and we are finally seeing the chance of some bullish patterns picking up some momentum we can see we had a successful inverse bart up from the bear flag and are now forming a smaller but fairly sturdy bullflag that broken up from can take price to 30+...

DrDovetail

After the recent bounce up from the bottom trendline of the green 1 day symmetrical triangle pattern we can now see that that pattern's probability has increased significantly. At the same time we also have a giant 1 day ascending H&S in play at the moment (its neckline indicated by the red ascending trendliine) I think this will probably be a fakeout as if it...

DrDovetail

I anticipate this is only the beginning of the dip but we may see a brief relief bounce from here before continuing to the downside. We have hi our diamond top drop target but we can see we appear to be doing a bart breakdown from the day bullflag and considering how long its pole was we can actually breakdown all the way to 8.8k I'm not saying we will go that far...

DrDovetail

lookin' like we have hit our smaller continuation diamond target but not yet reached the 10.6k range to hit our larger diamond top target yet. We can see price is currently finding support exactly on the 2hr 200ma. Recently had a 1hr deathcross and that coupled with the ETF delay FUD is probably just enough of an excuse to send prices back down...our 3 day 50ma...

DrDovetail

We can see here on h 1 day chart that the 1 day deathcross is imminent and will likely occur tomorrow or the day after at the latest. While at this point it does look like the initial cross will happen, My gut feeling based on fundamental developments and adoption in xrp, is that even if this initial cross does occur it will be short lived and proven a deathcross...

DrDovetail

Not sure if valid yet but enough trendline touches to consider. If so the big bullflag may be a descending triangle bullpennant.

DrDovetail

A big red candle has taken us well below the diamond pattern and just under the 4hr 50ma where it is currently retesting and finding resistance....if that resistance solidifies and continues to maintain resistance then we are most likely confirming the pattern as a diamond top in which case its breakdown target is 10628. This may only be the beginning of the...

DrDovetail

infinite triangles

DrDovetail Updated 

the way all these bullish patterns( from various time frames) are currently clustered together if one triggers it will probably set off a chain reaction that triggers them all. . .there's a 5th pattern that it could lead to i triggering too on the weekly chart. A weekly cup and handle that's harder to identify on this chart unless you zoom it out and/or switch to...

DrDovetail

As with many patterns, triangles, pennants etc. . .as they develop they tend to morph, or widen and change shape. We can see this also the case with the diamond pattern we have been consolidating in. It has now matured into a much more symmetrical shape and in fact can now at this point be looked at as a symmetrical triangle as well as they both will have the...

DrDovetail

a revisit of an early July chart...It looks like it may be about to break up from its handle lots of bullish patterns breaking above their top trendlines right now on the micro and macro levels and multiple timelines. A perfect storm. However we have a few overhead resistances we will have to watchout for along the way to 25 and then 36 K. The firs ones are just...

DrDovetail

we have currently closed a couple candles above it ...and if we were to breakout of it bullishly at this level the target is just under 17k...making this pattern our penultimate bullish pattern at the moment in a pile of like 5 extremely bullish patterns with their breakouts seemingly all coalescing at once. The ultimate bullish pattern is still the weekly chart...

DrDovetail

Looks like we will be potentially confirming a bullish breakout out of this flag very very soon... if we see a surge in bullish volume to confirm he bullish breakout target is 14070 or so.

DrDovetail Updated 

A very bullish sign here as the 1hr head and shoulder pattern hiding within the 3hr diamond just decided to go on and dust it's shoulder off as price action bounces off the right shoulder of the head and shoulder's top trendline and has now been bounced back into the diamond pulling off a very successful bear trap....this increases probability of a bullish...

DrDovetail

diamond pattern seems fairly valid on the 3hr chart. Important to watch where the 1 day candle closes though...if we can stay in this range for close we can close the 1 day candle as a bullish engulfing candle which could be a very bullish signal also currently on the 1 day chart we are forming a bull flag with an incredibly long pole which if broken to the upside...

DrDovetail Updated 

we can see that btc hit the 1hr bullflag breakout target the immediate went back down under the top trendline of the bigger symmetrical triangle and is now forming a 1hr head and shoulders pattern. I plan on holding until I se the horizontal dashed green line flip to solidified resistance. For now this could still easily be a h&s fakeout. For now we wait.

DrDovetail

just wanted to zoom out to show the current chessboard in its entirety and also my idea of when we may finally breakout of the bigger (for now speculative) symmetrical triangle pattern. The Adam & eve double bottom is one of the most picturesque symmetrical perfect adam and eve double bottoms I've sen in awhile...was amazing to watch the price action follow the...