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XRPUSD goldencross now official!As I said in my previous idea yesterday, we were 1 day away from the 1 day chart's goldencross on xrpusd and it has now officially crossed. The market tried to shake some weak hands with a solid bear trap last night but I know all those who understand the utility and value of xrp did nothing but hodl through it. Well done all he held as now the daily candle has flipped to green giving us 7 green daily candles in a row. This should just be the start of xrpusd's bullrun. There is still a chance that we could close a daily candle or 2 as red candles in the coming days, but our weekly candle is currently a big green bullish engulfing candle and as long as it stays that way by candle close probability very highly favors that we continue our direction upwards. Also on the weekly chart(not shown here) we have closed 2 consecutive weekly candles above the heavy resistance of the weekly 50ma. XRP is behaving exactly how btc did when it first closed a couple weekly candles above its weekly 50ma. It acted like it may dip back under for a second but then had its huge blastoff. If XRP behaves the same way we could see is huge breakout by the next weekly candle. XRPBTC should start to make strides and gains as well along with it.
BITFINEX:XRPUSDLong
by DrDovetail
potential inv head & shoulders could double ADA's current priceCardano has been taking a bullish upturn recently along with much of the alt market. . .but if it can trigger a breakout of the current inverted head and shoulders patern on it's 1 day chart, it still has the potential to double its current price. Current 1 day stochrsi is alreeady over extended so it may meet resistance for a few days or so at the neckline before finally breaking upward but considering its had its golden cross sustained probability is inf avor of a validated breakout before too long. target 17-18 cents.
BITTREX:ADAUSDLong
by DrDovetail
1
BTC maintainin bullishness; golden cross now on track for 4/11I appears that the stoch rsi is finding excellent support on the strong ascending 3 year old trendline keeping momentum bullish for now and has helped to increase the northern trajectory of the 1 day 50ma(in orange) to where we currently have a golden cross on track for as early as April 11th. Of course any significant selling from now until then will likely push that expected cross date back but price action currently appears to be in a bit of and ascending triangle/bull pennant on the one day chart...so if we were to break up from that price action within the next day or 2 we could expect a golden cross even sooner. So as of now things still look quite bullish all around...the only reason to even consider a downward move that invalidates the goldencross and instead results in a fakeout is that because everything looks so obviously bullish that the exact opposite could happen to trick a majority of traders. However beyond that, everything else seems to be indicating probability is currently favoring the bulls. So while I'm prepared for either outcome my bias leans bullish. If we are to break upward from the current flag set up the next consolidation or correction zone is right around 6k but ultimately I still believe we will get pretty close to the big wedge breakout target of 7229 maybe even as high as the resistance at 7.4k if enough fomo kicks in before any sort of significant correction happens.
BITSTAMP:BTCUSDLong
by DrDovetail
Possible goldencross after higherhigh-achieving bullish breakoutWe can see after the recent bullish breakout from the rising wedge we were in that BTC has finally achieved the ever elusive 1 day higher high a crucial move necessary to jumpstart the next bullmarket. We of course are eventually anticipating a higher low to follow it but we may keep forming this higher high a leg or 3 more upward before correcting downward to form the higher low...so while I anticipate we probably are more likely to continue up a leg or 3 I am leaving this idea neutral until I see a break one way or the other. Another crucial move to kick the bullmarket into gear is the 1 day golden cross. Because of the recent bullish breakout from the wedge we can now see the trajectory of the 1 day 50ma has bent very sharply north which has given us the potential for that ever important 1 day golden cross to occur by April 11th!! In fact we could just consolidate sideways in a bullflag for the next 7 days and we would likely see the goldencross occur! continuing upward would only make it occur sooner as well. Of course we could always bart back down before those seven days, or have a golden cross fakeout where the cross occurs but only lasts for 1 to 2 days before having a huge dump back down to the downside. Definitely a possibility to always anticipate. If we do end up having a sustainable solidified and confirmed 1 day golden cross then all thats left from there to fully confirm the bull market is that follow up 1 day higher low and one more 1 day higher high to follow it up. ('m already accumulating each time we trigger a new leg up in the meantime and will definitely be adding to my bags should I see a solidified golden cross confirmed.
BITSTAMP:BTCUSD
by DrDovetail
BTC forms 1day higher high 1st time since bearmarket beginning!!This is a huuuge sign that we may finally be seeing the trend reversal we've been so patiently waiting for and a definitive end to the bear market...This is the first higher high on the 1 day chart we've had since January 2018. We will be looking to follow this up with a 1 day chart higher low and then one more 1day higher high to complete the sequence and fully hand control back over to the bulls. if we do not form a higher low then we will almost certainly see a capitulation candle to follow...if we do then capitulation already happened in December! Very exciting either way you slice it!
BITSTAMP:BTCUSDLong
by DrDovetail
ADABTC completes 1 day golden cross/picture perfect ih&s patternWe can see here on the 1 day ADABTC chart that the price action is responding quite bullishly to the recent 1 day golden cross. Also we can see a picture perfect inverted head and shoulder pattern here which cardano has just now broken above the neckline with good bullish volume to match it. There is still a slight chance at a fakeout here but we should know by the next 1 day candle if this is a legitimate triggering of the inverted head and shoulder pattern. With the volume confirmation here probability favors a breakout more than a fakeout currently especially coupled with the recent golden cross and so I'm listing this idea as long. We also have talk of cardano being added to the ledger cold wallet and cardano also being next up to be added to coinbase...the coinbase rumor is not as solid as the ledger speculation but both are certain to be impacting price at the moment. If the ih&s breakout is triggered I have put a projected breakout price target here in green.
Long
by DrDovetail
Extremely pivotal moment for bitcoin could signal bearmarket endIf we can break up from bitcoin's current 4hr bull pennant, the breakout target shown here is around 4350 or so....which would also allow us to hit the green falling wedges breakout target shown here as well. Much more important than either of those targets however is if we can at least get enough momentum from a bullish break of the bull pennant to lift price action above the lavender horizontal trendline at $4117. Why is this line so pivotal? Because if we can reach above it we will for the first time since near the beginning of the bear market form our first higher high on the 1 day chart. That would signal that we may finally be starting to see exchange in the overall market trend from bearish to at the very least more sideways...we could of course hit that higher high and still follow it up with a lower low if the rejection at the top descending dotted white trendline is powerful enough...if we were to then follow it up with a 1 day lower low, that would almost certainly become our capitulation candle(unless we already had capitulation back in late December at 3.1k). Also if we were to follow the daily higher higher with a lower low, even though bears would then still be in control we would very likely have another higher high after that lower low since it would likely be a bounce up from capitulation and from there we could expect a higher low and a subsequent higher high after the higher low on the daily. Once we can complete a consecutive higher high/higher low/higher high sequence on the daily chart I will then be confident the bottom is indeed in. However we could also bart down here instead of breaking up from the bull flag and simply continue our never ending bearmarket series of lower highs on the 1 day chart....if so the bottom may not be in for some time. So for now though this is a very pivotal moment for btc...especially if we can break up from the current 4hr bullpennant. 4hr stochrsi looks like it wants to go up but the daily stochrsi looks like it wants to head downward so who knows it could break up hit the target and then have a big retracement...if so as long as the breakup goes above 4117 that will be a very very good sign...even if we capitulate immediately after.
BITSTAMP:BTCUSD
by DrDovetail
Neutral volume/price analysis on Bitcoin day chart BitStampI'm illustrating this just to mostly illustrate a point about use of volume in price analysis. Bitcoin right now seems to be a battle of small groups or single people perhaps even who are both trying hard to influence market here. Perhaps a semi-larger group (maybe miners again or exchanges) are trying to support price. One large seller or a small group seems to be trying to hunt for stop-losses and or break support lines long enough to influence more downside. Hope this helps someone, this is just my thinking and ideas. DYOR!
BITSTAMP:BTCUSD
by SeanBronato