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4hrchart

Possible Cup & Handle or Double Top now forming?We can see here on the 4hr chart how the recent bullish breakout has reached the exact same height we reached on January 19th of 9190 before retracing opening up the possibilities here for both a cup and handle(bullish) or a double top(bearish. Currently I think the cup and handle has a higher probability of occurring. I anticipate that we will probably retrace to around 8.5k to fill the cme future gap before rebounding here. We could go lower but I'm not worried about a double top unless we find a way to break below the descending pink trendline. I am anticipating that the 1 day 200ma will not hold support but if it does there's still a chance we could continue upward although currently not very probable until a correction occurs. Let's remember last time we closed above the 1 day 200 we almost closed 14 1day candles above it and still managed to break below it...so unless I see a ton of bullish volume and a huge spike in price action to go with it, I wont be convinced the 1 day 200ma is going to hold support until we've closed 2 consecutive weekly candles above it.
BITSTAMP:BTCUSD
by DrDovetail
Ugly 4hr h&s pattern on btc has a target below 7.7kthis pattern has not yet been validated quite yet but should confirm either the breakdown or the fakeout within the next 2-3 4hr candles max. Probability is currently favoring the breakdown and if that occurs the target will be 7.6-7.7k. A break downward here could also flip the momentum and lead to further downside from there with 7427 as the next potential support. We have lost our other 2 big supports of the 3day 50ma and the 8504 horizontal but still have a chance to reclaim them if this h&s ends up being a fakeout instead. If we do indeed confirm the 3day 50ma as solidified resistance it will not be a good thing and could lead to a 3 day deathcross which when that happened last time took us from 6k to 3k pretty quickly..Lets hope we can reclaim the 3 day 50ma as support to prevent any sort of 3 day deathcross.
BITSTAMP:BTCUSD
by DrDovetail
2
Interesting Bitcoin Pattern on the 4hWelcome back traders! Bitcoin just closed its fourth green candle in a row on the 4h, which makes one wonder how often that happens. Although four candles in a row is rather common with Bitcoin, it turns out that five has been considerably rarer over the last 6 months. It appears that we have been seeing a series of 1-4 sets of 5+ sequential green candles within an approximate 7 day time frame every 1.5-2 months. We have seen these profits extend as long as 10 candles in a row. Here is where we are at currently, along with the statistics from these previous profits. It is noteworthy that I measured on the open/closes, and that these figures are in USD. For instances where we saw a sequence of green candles greater than five in a row, the end of said sequence has been measured out for you as well, separated by a semicolon. TOW: +$228.92 +3.11% over about 17h 10/25: +$1,212.85+16.23% over 20h; +$2,188.13+29.47% over 28h 09/07: +$194.39 +1.89% over 20h 09/06: +$350.60 +3.33% over 20h 09/02: +$194.89 +2.03% over 20h; +841.59 +8.79% over 40h 07/02: +$1,478.23 +15.03% over 20h 06/26: +$1,284.12 +11.32% over 20h; +2,522.91 +22.25% over 28h After seeing figures like these, one cannot help but wonder if this pattern will continue. Will we see another sequential set of 5 green candles? Will the current set extend further? Will Bitcoin break the pattern all together? We will see. Disclaimer: This is NOT trading advice! These are merely my opinions that I have posted for educational purposes ONLY. Trading comes with great risk, which should be managed carefully. You should never trade anything more than you are willing to lose. I hope you all kill it, but I am not responsible for any financial loss or damages. Thanks for reading!
COINBASE:BTCUSDLong
by CryptoRichCrypto
1
4hr Inverse Head & Shoulders breakout appears to be validating.If this inverse head and shoulders breakout is confirmed om the 4hr chart that breakout target should help price action to rise back above the yellow falling wedge that we are currently testing the bottom trendline of as support. If we can maintain support on the yellow falling wedge's bottom trendline then we should very likely trigger the inv h&s breakout which should in turn help us then break upward out of the wedge. Happy Thanksgiving!
BITFINEX:BTCUSD
by DrDovetail
2
xlmusd attempting to breakout of a 4hr inv h&sThis could easily be a fakeout so I'm not picking a side just yet...however if it triggers XLM could be heading to 9.5 cents in the near future here. Price action is currently testing the neckline and throwing little wicks above it so it's still right in the fakeout zone but if we see 3-5 consecutive 4hr candle closes above the neckline and a surge in bullish volume that will be the signal that it is triggering the breakout. Not a fan of XLM, Jed McCaleb or the recent and very desperate burning of 50% of their total supply..however once thew upcoming bull market kicks in for alts I would not be surprised to see XLM gain 500% or so during that run despite its horrible fundamentals.
COINBASE:XLMUSD
by DrDovetail
The bull flag btc's been in has now morphed into a falling wedgeWe can see a very valid falling wedge here on the 4hr chart; the purple trendlines following the wicks and the pink trendlines following the candle bodies..for now the purple one seems slightly more valid. Other signs giving the bulls hope currently are that we are still consolidating above the bigger green falling wedge from the weekly chart as well as still above the 1 day 50ma. for me this is a no trade zone until we see confirmation one way or the other.
BITFINEX:BTCUSD
by DrDovetail
BCH Bullish DivergenceTripple bottom formation on 1hr chart. 4hr chart is looking to make a turn around soon. If this price rise happens, look to the 1D chart for a near drop in price possibly breaking $300 resistance. Influx of volume today will confirm or cancel out this forecast. ______________________________________________________ Bitcoin and other cryptocurrencies are a very speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment, and a potential total loss of their investment. Information provided by King Midas is not intended to be, nor should it be construed or used as investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest in cryptocurrency. An investment in cryptocurrency is not suitable for all investors.
COINBASE:BCHUSD
by ILL_Midas
3
2hr fallingwedge by candle bodies or 4hr fallingwedge by wicks?Definitely in some form of falling wedge and seeing as how we've ben in a bull mark most of the year probability is very good of this eventually breaking to the upside...the trick is figuring out if the falling wedge is more valid by candle bodies in which case it is either a 1hr or 2hr chart pattern...or if by wicks it could be a much larger wedge that is more valid on the 4hr chart. Only time will tell...if it keeps dipping I intend to keep buying until I see undeniable confirmation of breakdown..so far im only seeing us continue to consolidate inside the wedge and bullish divergence.
COINBASE:BTCUSDLong
by DrDovetail
4hr gldncrss trajectory=September 9; Nearing inv h&s completionWe can see many positive signals here for the bulls on btcusd on both the 4 hour chart(shown here) and on the 1 day chart right now. On the 4hr we can see how price action has finally overcome the 4hr 200ma's resistance and we can also see that a 4hr golden cross is in the works with a current trajectory placing September 9th as the day of the cross. We can also see how both of the 2 current inverse head and shoulders in play(in pink and yellow) seem to now be completing their right shoulder as price action heads towards their respective necklines. Another big sign shown here for he bulls is that we are once again back above the ascending red neckline that belongs to a huge 3 day pattern bearish head and shoulders. This has been the 3rd consecutive time we have broken below it thats ended in a bear trap only increasing the probability of us breaking bullishly up from the 3day symmetrical triangle(in green). On the 1 day chart we also have the great bullish sign of closing our previous 1day candle back above the 1 day 50ma and the ascending red neckline(as well as two key horizontal resistances). All of this seems to suggest the bots, algos, and whales will likely try to at the very least finish painting he right shoulder on the charts before attempting any sort of bull trap fakeout dump of any kind to maximize liquidation. So I will wait until I see confirmation of either a breakout of the inv h&s pattern or confirmation of a fakeout bull trap to make my next move...even though I feel probability favors the bulls for now.
COINBASE:BTCUSD
by DrDovetail