DrDovetail

DrDovetail Updated 

XRP just got a sudden break to the upside both on the xrpbtc chart(shown here) and the xrpusd chart. Here on the xrpbtc chart however we have taken the price action above the rimline of a cup and handle pattern it has been in and if the daily candle can close above this line we have a chance to trigger the breakout on this pattern o this Christmas Day candle and...

DrDovetail

We can now see the 4hour golden cross has occurred on the 4hr chart...this may spark a rally and we can see that the stochrsi has reached a good boucne support area with room to go up....however before this downturn, we did not achieve a higher high(which would have been around 4.4k), also this year has been particularly unkind to price action the majority of the...

DrDovetail

we just experienced a sizeable 4hr candle to start the new daily candle but so far not much volume to go with it yet on the daily... this could be a major bull trap we have technically broken above the neckline of the inverted head and shoulder pattern on the 4hour chart but the right shoulder is very disproportional and may actually just be part of the head...

DrDovetail

we have been forming a diamond top on the 2hr chart. The last break upward to 4.1k was assisted by a 2hr chart golden cross, but now that same timeframe is forming a diamond top with the trendlines following the candle bodies...there is a slightly more obtuse diamond top on the 4hr chart that can be connected by wicks....if the diamond top by candle bodies is the...

DrDovetail

the price action has found resistance on a trendline that fits the angle of the other 2 previous tops and creates a valid rimline for a cup and handle with some very notable upside....should this cup and handle trigger it would not only take us to the price target for the previous inverted head and shoulder breakout that we've been patiently waiting to reach but...

DrDovetail

I still anticipate we will find a way to break even higher to continue our higher low/higher high series. we have a couple resistance lines to climb from here to achieve our next higher high. Wanted to post an update however to show you all that the target predicted in my last xrpbtc idea has been hit exactly.

DrDovetail Updated 

Finally appear to be breaking upward from the falling wedge...after tracking many potential trendlines for t it appears the trendlines that went by the candlestick bodies were most valid which made it a smaller wedge with less breakout potential so now instead of a target of 4.1k we have a more conservative price target of $3845. It could continue to bounce once...

DrDovetail

My projected target for the falling wedge breakout has a fastly approaching breakout candle finally heading its way. Look through my previous ideas to see but I've been watching this falling wedge for quite awhile now..glad to see it's finally triggering. With this momentum there's a chance it will only continue up after reaching that target...although some...

DrDovetail

the BLX chart has the cryptomarket charted since 2011 and during that charts entire existence we have always held support above the 200 week moving average (in blue) We have now touched it again and are seeing a relief bounce....judging by the weekly stochrsi we will likely see a nice bounce here. However I think t his rally may be temporary I think we may...

DrDovetail

temporary long as I don't believe we have reached the bottom of the bear market yet...we may see price action go back down to the support of the falling wedge's bottom trendline one more time and maybe even a breakdown fakeout wick a pip or 2 below it but ultimately I think like most falling wedges probability favors a break upward within the next few day candles...

DrDovetail Updated 

Breakout target show in black box. 1 day stochrsi indicates a move up is overdue.

DrDovetail Updated 

I don't see the bottom being any lower than $1120. Still a chance we've already bottomed of course or that the bottom is only slightly lower at $2800 or even 3k. However I feel confident that the lowest we would go is $1120 based on the past history of major peaks and bottoms on bitcoin. I don't believe the ultimate btc bubble pop has happened and feel this market...

DrDovetail

I anticipate it will break up from the wedge at just the right time to find resistance at the horizontal white trendline...then I expect it from there to begin its descent into final capitulation...although we may not see the final capitulation candle until february, I think we will see it by february at the latest. I anticipate we will meet resistance here and...

DrDovetail Updated 

This is currently as close as we've seen a potential golden cross on the xrpusd chart. The question now is whether or not it will actually be sustainable or a fakeout. The next candle the 50ma will filter out is a red one but the next candle the 200ma will filter out is a red one that is twice as long...so It's still currently rather hard to say whether or not...

DrDovetail

Tread carefully here because we are still within fakeout range but if I wasn't already long now is a wise time to start at least laddering in...can set smart stop losses a few pips below the neckline to be safe as well but even if it dips I anticipate the neckline should hold support.

DrDovetail Updated 

This inverted head and shoulder has a disproportionately long left shoulder but it is still valid we are currently testing the neckline. Judging by how overextended the stochrsi is on the buy side on the 4hr chart there are decent odds that this could be rejected here at the neckline but I'm pretty certain on the 1 day stochrsi we are in the oversold territory...

DrDovetail

there is a clear falling wedge pattern on the weekly bitcoin chart. We have now also clearly broken below it, however many falling wedges will have fakeout breakdowns just before 180ing and climbing back into the wedge just before its apex to break upwards....this can also still happen here...not saying it will but it's certainly something to consider...if it were...

DrDovetail

Not so sure the bottom is quite in yet. . .it could be and we could be just accumulating here but as we saw with the recent green candle that got rejected at the bottom trendline of the previous bearflag we are still in dead cat bounce zone so more downside is more probable than this being the current bottom...I really can't see it goign lower than 2.8k but its...