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XMR (Monero) Swing Long 30% Profit For those who have entered this $XMR trade, congrats! I have now added 7 TP Points labeled next to the Fibonacci levels. Of course, you book some profits now if you'd like and do expect a little price movement to retest previous levels. I suggest that you do move your SL tighter to the entry or even in front of the entry zone. The 20 EMA has crossed over the 50 EMA on the daily chart and with this momentum, we should see the 20 EMA breakthrough over the 200 EMA which would indicate a price movement up to the take-profit zones I have placed on this updated chart! I will reiterate, expect the price action to come back down a little before we continue to take off.
XLong
by yoyokenwan
ETHUSD above the necklines of 3 very bullish patternsNot only is ETHUSD’s price action currently above the neckline(tan trendline) of a descending inverse head and shoulder. It’s also above the neckline of 2 different double bottom patterns. (Green and yellow horizontal trendlines). The right shoulder of the inverse head and shoulder pattern is actually also a valid double bottom pattern on the 4hr timefram(daily time frame shown here instead of 4hr). Also, The head of the inverse head and shoulder and the right shoulder combined also create somewhat of an Adam and Eve double bottom, similar to the one playing out currently on cardano. We are only just now having price action poke its head above the inv h&s neckline though and since, as is usually the case, patterns rarely trigger their breakout on the first break of the neckline we could still see price action retrace below this neckline before the real breakout occurs. There’s always a chance this is the real breakout too though so the best thing to watch for on the initial neckline break is whether or not we getting any sort of major bullish impulse in the volume to help confirm an official breakout. I cou;d see a breakout fakeout going as high as to test the 200ma then get rejected and fall back below the neckline, before it finally has the break break above it. So we must remain vigilant. In the long run i think these patterns will confirm their bullish breakout eventually but am not yet sold on the current 1 day candle being the breakout candle just yet.
COINBASE:ETHUSDLong
by DrDovetail
ZECUSD attempting double bottom breakout. $196 possible target. Luna completed it’s double bottom breakout with ease, and considering we only just recently shifted back into an uptrend I’m assuming this double bottom as well as several other cryptos double bottom patterns are likely to trigger as well. Of course, as always we should wait for confirmation of a bullish breakout from this pattern, not go off assumptions, and currently the price action is finding resistance upon testing the double bottom neckline. Once it flips it to solidified support and then we see a nice impulse of bullish volume afterwards we can be more confident that it will validate the breakout. If so the target is $196. *not financial advice* Until then this idea will have to be listed as neutral despite myself having a bias towards the bullish outcome.
COINBASE:ZECUSD
by DrDovetail
10
Current falling wedge on the 1day btcusd chart.Based on todays wick we may have just retested the top trendline of the wedge. However there is a chance this yellow trendline is a more valid top trendline and that we are already up above the wedge. I have included both just in case. Ultimately if we were to break above the green trendline here or in the next few days the measured move of that breakout would be somewhere between 62 and 64k. *not financial advice* Let’s see what happens.
COINBASE:BTCUSD
by DrDovetail
12
Alt market wants to explode to 2.4 trillionIn order to do so however it must first break out o this cup and handle pattern it has been forming. Many alts at the moment including Ethereum and Tezos are in similar cup and handle patterns. Just waiting on price action to firmly break above the rimline o the cup and lip it to solidified support first before we can confirm the breakout. It could take it’s sweet time locating just under the rimline for multiple daily candles before I ally breaking above. It could be as early as tomorrows candle or it could be multiple weeks away still. Whales may very well be waiting until they see a bunch of people flipping their alt holdings into btc before they finally try to trigger the total2 c&h breakout. Either way, I don’t anticipate most alts currently in a c&h having their breakout until we see the total 2 chart confirm its breakout. My guess is we will see the breakout sooner rather than later as I anticipate the 1 day 50ma(in orange) will maintain solid support and help to lift price action above the rimline and keep it there.
CRYPTOCAP:TOTAL2Long
by DrDovetail
2
The handle of the cup is in a descending channel/bullflagOdds are good i we continue to consolidate inside this descending channel(in green) that we will find support when once the 1 day 50ma (in orange) converges with the bottom trendline of the channel around 55944-56k or once it enters inside the channel. So my guess is the bottom of the handle will be around that 55.9-56k range. Of course it could also do a bear trap wick below the channel too before bouncing back up to close the body of the candle inside the channel for it’s last correction before more upside. Either way we should probably know within the next few days.
COINBASE:BTCUSD
by DrDovetail
Solana has an interwoven c&h & a bullflag currently in playDotted yellow line leads to the c&h breakout target. Dotted green line heads to the bull flag’s breakout target. We are already above the bullflag pretty significantly, and to get to the bull flags breakout target we would have to both breakout of the cup and handle as well as reach it’s breakout target first. So great bullish confluence to increase the probabilities of both targets being met. *not financial advice*
FTX:SOLUSDLong
by DrDovetail