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Propy resetting stochrsi just in time for golden crossYou can see here on the daily chart how propy hit the exact target of this 4hr chart inverse head and shoulders pattern of $1.93 and then instantly corrected and has now corrected enough to reset the daily stochrsi indicator just in time for its golden cross. Having price action be this close to the 50 and 200mas at the time of the cross is almost always a good sign that the cross will be sustained and validated as well. If so once price action climbs above the horizontal brown line and flips it to solidified support then the next target should be 2.76. That target then places us above the green trendline which will lead eventually to another breakout validation with an even bigger breakout target but we will focus more on that one once we get there. For now the focus is on breaking above the brown trendline and sustaining the golden cross. *not financial advice*
COINBASE:PROUSD
by DrDovetail
Doge can reach $.75 if it breaks upwards from ascending bullflagUsually an ascending channel like the one that is part of the bullflag on dogecoin’s 1 day chart beaks to the downside, except inside a parabolic phase of the bull market cycle. In the parabolic phase of a bull market cycle you can see several back to back rising wedges and ascending channels break to the upside so since we are really only 1-2 daily chart pattern breakouts into this current parabolic phase for the alt coin market, I think probability favors this ascending channel breaking upwards. If it does we also have the benefit of it being not only a channel but a bullflag as well and the target for such a breakout is around 75 cents. Furthermore if you flip to the weekly channel you would see that there is potential for the pole to be even longer than shown here on the daily timeframe, so I wouldn't be surprised if doge were able to overshoot the 75 cent target even. I noticed that the channel had valid trendlines on both the wicks and the candle bodies on both the bottom and top thats why the trendlines are doubled up, *not financial advice*
COINBASE:DOGEUSD
by DrDovetail
Aerousd breaking upwards from ascending inverse head & shouldersStill has about 41 percent of gains left to make between here and its full breakout targer. Will net a new all time high in the process. Not sure where it will go from there. could always overshoot or undershoot the target as well but most alts lately have been either hitting the target precisely or overshooting then. I like this particular unconventional inverse head and shoulders because it has 2 necklines both with the same breakout target. *not financial advice*
COINBASE:AEROUSD
by DrDovetail
Current price retracement on xrpusd is creating right shoulderWe can see the current price retracement on xrpusd is starting to form the right shoulder of an inverse head and shoulders pattern.This means that once price bounces and gets firmly above 95 cents or so then maintains that level as support it could trigger a breakout from this inverse head and shoulders pattern. At that point the target would be around $1.55-$1.60 and if we can get tot hat level and maintain that level as strong support thats when the real fireworks can start to begin. Could take multiple weeks for this right shoulder to find its bottom and head back towards the neckline, but hopefully sooner rather than later. *not financial advice*
CAPITALCOM:XRPUSD
by DrDovetail
Ugly invh&s on XRPUSD already breaking above the necklineEven though this already now has a sizable candle breaching the neckline of this inv h&s pattern, we must remember that even bigger breaks above invh&snecklines in the past have still found a way to dip back below the neckline, and this candle currently has a decent top wick goin on it as XRP often likes to pull after a pump, so we haven’t validated the breakout of this pattern just yet. However, wanted to post a new updated version of this pattern to show that if we were to validate the breakout here which is a little earlier than where. Arbitrarily placed the measured move line of the breakout on the previous version of this chart, the target would then be slightly higher taking us to around 93-94 cents. Again, no guarantee we won’t find a way to dip back below the neckline here in which case I will ahve to readjust the measured mvoe line lower again but I still out of excitement wanted to post this update considering XRP has been playing it coy the ast few days that bitcoin has been pumping. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
2
Ugly invh&s on XRPUSD already breaking above the necklineEven though this already now has a sizable candle breaching the neckline of this inv h&s pattern, we must remember that even bigger breaks above invh&snecklines in the past have still found a way to dip back below the neckline, and this candle currently has a decent top wick goin on it as XRP often likes to pull after a pump, so we haven’t validated the breakout of this pattern just yet. However, wanted to post a new updated version of this pattern to show that if we were to validate the breakout here which is a little earlier than where. Arbitrarily placed the measured move line of the breakout on the previous version of this chart, the target would then be slightly higher taking us to around 93-94 cents. Again, no guarantee we won’t find a way to dip back below the neckline here in which case I will ahve to readjust the measured mvoe line lower again but I still out of excitement wanted to post this update considering XRP has been playing it coy the ast few days that bitcoin has been pumping. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Extremely ugly invh&s currently in play on XRPUSDI have placed the measured move/breakout target line rather arbitrarily here. It wouldn’t surprise me if price action had a pullback or correction to reset some of the indicators before actually breaking above the neckline in which case the measured move breakout line(dotted line) would most likely need to be readjusted lower than where I’ve arbitrarily placed it here iin the process lowering the breakout target as well. Always a possibility that it doesn’t correct in between now and reaching the target though in which case we are looking at a target somewhere around 89-93 cents. I know many who only consider bukowski’s textbook version of an inverse head and shoulders to be one will have their skepticism about such an ugly looking example of an inverse head and shoulders, but n my experience it is the ugliest and most asymmetrical examples of inverse head and shoulders patterns that seem to have the highest percentage of being validated and reaching their full breakout targets. *not financial advce*
BITSTAMP:XRPUSD
by DrDovetail
ETHUSD price action poking above descending channelFirst breach of the top trendline of the descending channel here by the price action. We all know that price will often times dip back into a chart pattern after the ntial break above it so as of now we can’t yet say this validates the breakout of this pattern. Even though it’s more common patterns dont official validate their breakouts until the 2nd 3rd or 4th breach of a toot rendline, there are plenty of examples of patterns that have confirmed their breakout on the 1st breach of the top trendline as well so it’s wise to be prepared for either possbliity. Think a good indicator of it confirming the breakout will be once the 200ma gets flipped to sold support. The 200ma is current wick resistance. *not financial advice*
COINBASE:ETHUSD
by DrDovetail