DrDovetail

DrDovetail Updated 

I think XRPUSD will continue to consolidate sideways for a week or 2 or 3 finding good support on the weekly 50ma...and once it nears the last 2 remaining potential top trendlines of the 1 month chart's giant descending triangle we've been in for almost 2 years(the dotted yellow line and the pink log chart line), once it nears those w will s it start to gain the...

DrDovetail Updated 

The inverted cup and handle pattern on xrpbtc seems like it is more a 1week chart pattern or possibly a 3 day pattern meaning it can close multiple day candles under the rimline without triggering the breakdown to negative satoshis. If it's more valid as a 3 day chart pattern then we can close around 6 consecutive 1 day chart candles under the rimline without...

DrDovetail

currently we have a 1 day chart falling wedge with an overlapping pair of inverted head and shoulders patterns(1hr &4hr chart) on top of it. Then on top of those head and shoulders patterns we have a 4hr chart rising wedge(in turquoise) and a 3hr symmetrical triangle(in blue). solid chance for bear or bull although bear has the upperhand slightly since a 4hr lower...

DrDovetail

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DrDovetail

Not sure how often ones that have his much downward tilt actually trigger but something worth keeping an eye on all the same. Neutral until I see confirmation fo some sort of breakout.

DrDovetail

We have finally reached a 31% correction here when we dipped into the upper 9k region...odds are good the 1hr/4hr chart h&s pattern is really a decoy at this point as a 1 day chart falling wedge is starting to take shape more and more as the candles progress and is starting to seem more valid. We have also filled the highest gap on the cme futures contracts on the...

DrDovetail

not that 1 hour patterns or 1hr golden crosses are all that significant, but this could snowball into bullish breaks on bigger more significant time frames.

DrDovetail Updated 

Normally I'd list an idea like this as neutral until I saw confirmation of a breakdown below the neckline. However in this situation after such a parabolic rise plus what seems to have also been a blow off top and the fact that we have gaps as low as 8.5k on the futures contract that still need filled, I think probability favors a breakdown here. Not only that, I...

DrDovetail

30 minutes or so left in the 1 day candle and we can see it still looks very likely we will close as a bearish engulfing candle. If this occurs it is highly probable that we will see considerably steeper downside to price action. Currently, we have already had a bit of a rebound after correcting 26% but odds are good this will be a dead cat bounce and the full...

DrDovetail

this pattern here is why I believe xrpbtc will no longer close any further candles under this current price point. We are in an inverted cup and handle pattern with a downward slant but the breakdown target is negative satoshis which I think is an impossibility. Therefore probability highly highly favors this being the bottom. last time we had a head and shoulder...

DrDovetail

Anyone need look no further than picture perfect examples of TA working its magic than the weekly LINKUSD chart. Coinbase Pro's recent addition of Chainlink to its platform came with very little fanfair(the noun not the crypto) from Coinbase itself...however I believe it was google letting it slip ahead of time that caused enough hype and allowed for the bullish...

DrDovetail Updated 

A 5 minute chart head and shoulder pattern hidden inside the right shoulder of a 30 minute charts head and shoulder pattern has triggered and reached its drop target sending price action down to the neckline of the 30 minute head and shoulder pattern. If the 30 minute h&s pattern triggers it's drop target is 9.6k or so. Considering we have gaps on the CME futures...

DrDovetail

After an insane 1 day candle that pumped its way above every resistance on the chart except 2 but then ultimately couldn't stay above the always magical 61.80% fibonacci retracement level at 13600, we witnessed price action plummet a whopping 10% to the 11.6k range in under a minute and then quickly jump its way back to the 13k range liquidating shorts and longs...

DrDovetail

After hitting the weekly bullflags breakout target at 12197, BTC has continued soaring bullishly upward with practically zero resistance in between 12k and 13k...next potential resistance is 13070 but at this point its questionable if it will be that significant. This parbolic move is unlike anything I've ever seen and where the correction may finally be is as of...

DrDovetail

Ethereum is now confirming a breakout of a weekly chart bullflag that should take it to at least $366 but more impressive is the cup and handle pattern on he 1 day chart it seems to be triggering at the same time which has a potential breakout target of $499. Now it's true cup and handle breakouts often fall slightly short of their projected target, but there's...

DrDovetail Updated 

Breakout target from the current weekly chart bullflag we are breaking out of is the 12.1k range 3 horizontal lines of resistance stand in between the breakout target and where we currently sit. I think these resistances may only prove temporary at best based on how insanely bullish btc has been and think the 3 white soldiers pattern we got just now on the daily...

DrDovetail

I think we sill have another leg or 2 to break up but these gaps on the CME are alarming....mainly because traditional stock charts tend to always fill these gaps eventually and looking left on this chart we can see that any gaps in the past on this futures chart have indeed ben filled shortly thereafter. While I don't believe filling the gaps is an absolute, it...

DrDovetail

So this entire year's bull run has left a lot of people in the dust who were waiting for a 31-41% correction to buy in. Everyone was expecting one as early as the upper 5k range but the correction never came. In fact only a few minor bear trap corrections have occured this entire bull run. Looking at this ascending green trendline on the weekly stoch rsi we can...