DrDovetail

DrDovetail

After hitting our target precisely on the 1hr chart a few candles back we can see here on the 4hr chart that we went a a pip or 2 above the target afterwards most likely fueled by fomo.We now see our pullback/correction taking place but if we can maintain support above our falling wedge target from here on out we will certainly trigger the Adam and ve double...

DrDovetail

illustrated here on the 1hr chart with a small hyphenated horizontal green line, we can see how perfectly the 1hr candle from 3 hours ago hit the breakout target of the wedge precisely and then retraced slightly....the proceeding 1hr candle(driven by fomo) has now taken us a pip or so higher than the projected target and the red 1hr candle that followed it is the...

DrDovetail

time to buckle up and enjoy the ride! We have currently retested the double bottom neckline and should confirm a daily higher high on the next 1 day candle...that along with the 3 day golden cross and the weekly closing as a bullish engulfing candle means there are bull signs everywhere! There still a slight possibility on this first attempt to trigger the double...

DrDovetail

look at the ascending dotted blue measured move line coming from the point of the falling wedge breakout.....notice how every candle after the breakout has been respecting it as some sort of magnetic resistance perfectly. TA amazes me sometimes and for even the breakout target/measured move line can become a valid trendline if you know how to take your measured...

DrDovetail

last chart I showed the 3day golden cross and the 1 day falling wedge on the verge of being validated and now few days later it seems this is indeed the case. Neither of those are shown here because I wanted to clear the chart to focus on the adam and eve double bottom that has been rapidly developing. Keep in mind though the breakout target of the falling wedge...

DrDovetail

falling wedges target is 11.5k we may reach 11.7k with fomo....bears may try to dump it back down after that and send price action back to retest the top trendline of the purple wedge while simultaneously filling the 8.5k gap...or it could also fall a little further tto test the 3day chart 50ma or 200ma (in orange and blue) for a big support bounce and to trick...

DrDovetail

impending deathcross on xrp. while also in a 1 day bear pennant that has a target of 20 cents...i anticipate this deathcross will be a fakeout and we may see a inverted bart here instead of a bear pennant....however there's also a chance it could break down and the 50ma could briefly cross under the 200ma but if so in that case it would just be capitulation and...

DrDovetail

TA once again working is magic as the diamond bottom breakout on the 4hr chart has hit its target with 100% accuracy! Next to trigger should hopefully be the 1day charts falling wedge which should have a breakout target around 11.5k and then if we're lucky the double bottom will trigger which could take us back to 13k...those 2 patterns are still up in the air but...

DrDovetail

No guarantee it will follow through and I'd like to see a slight bit more volume to confirm but it appears we have a 4hr chart diamond bottom breakout. If so it should reach the breakout price target I have posted here and I expect then on this current pullback for the yellow horizontal trendline at 9646 to retest as and maintain support in which case we will then...

DrDovetail

The current battle playing out seems to be between the support of the falling wedge's top trendline(in purple) and the resistance of the double top's neckline(yellow horizontal). If we somehow were able to close the 1 day candle above this neckline that would be a good sign for the bulls. We would still need breakout confirmation from the wedge first of course,...

DrDovetail

after the 3hr50ma refused to submit to the bulls at the invh&s neckline thee bears dumped it below the head and nullfiied the 4hr falling wedge at the same time. This is a great example of why selling at a neckline in a correction phase like this can be a very very smart move if you set a smart stoploss buy-in a few pips above the neckline. Since the smaller time...

DrDovetail

As expected here we can see price action has made its way up to the neckline of the 4hr chart inv H&S pattern and even sent a wick above it. The 3hr 50ma is now blocking the exit though adding some double reinforced resistance with the neckline. Fortunately the price action doesn't seem to be getting any kind of harsh rejections down though which suggests it...

DrDovetail

Now the falling wedge should take control. There is a bigger downward slanted h&s pattern too that has a target of 9k. I feel like the falling wedge will be the more dominant of the 2 patterns though

DrDovetail

After seeing price action climb up and reject right at the top trendline of this falling wedge then fall back down and find support right at the bottom trendline of this falling wedge I can now say with a fair amount of certainty that the h&s patterns were decoys cloaking this falling wedge which seems to have now emerged as the most legitimate current chart...

DrDovetail

Price action appears to now be painting a downward slanted h&s pattern and the 50 and 200emas on the 4hr chart have now official deathcrossed. Wee are also seeing a green candle coinciding with the deathcross which happens often as a last ditch effort to reverse the deathcross back into a goldencross thus achieving a deathcross fakeout...in order to achieve one of...

DrDovetail

yet another instance where the accuracy of TA absolutely astounds me. We can see when the price broke up on the first 4hr candle to leave the neckline behind that it hit the turquoise falling wedge's breakout target with exact precision the next candle made it as high as 11126 or so before coming back down and turning red on us and where did that candle stop its...

DrDovetail

still up in the air whether or not we will fill the gap at 11.2k but my prediction that we would hit the falling wedge breakout target has been met with exact precision...I was assuming we would hi there and then fill the 11.2k gap on fomo alone before going back under the inv h& s neckline and confirming a fakeout. Still a chance we can rise to 11.2k or even...

DrDovetail

Neutral until a confirmed break here however my assumption is we will see a inv h&s fakeout breakout taking us up to 11.1-11.2k and then dumping not long after to instigate the exponential 4hr death cross eventually bringing us down to the gap at 8.5k potentially. Just a thought...it could also very easily hit the full target of the inverse hea dand shoulders...