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Bullishbreakout

An even bigger inverse h&s pattern appears on ALGOOn our way to hit the 2 targets I posted about previously from former inv h&s neckline breakouts, algo has now brought price action above an even higher inverse head and shoulder neckline. Stoch RSI is pretty over extended at this point so it would not surprise me at all if we see a dip back down to retest the neckline or even a few wicks or a candle close below the neckline before we are ready to validate the breakout above this new neckline. Of course, it could also just decide it wants to pump all the way to our next measured move target with no correction at all. I will keep hodling, but if I was leveraged i would dial down a good portion of my leverage after hitting the previous targets and try to add it back in upon a successful retest of the new neckline as support…if we do dip below the neckline as long as it holds the 50ma as support any dip below should be temporary. We maintain overall support on the 50 and then solidify support on the white neckline here we will likely validate another inv h&s breakout by the time algo’s golden cross occurs. *not financial advice*
COINBASE:ALGOUSD
by DrDovetail
1
LINK may be breaking up from triangle; nearing daily goldencrossLooking at the weekly chart here to get a better view of this pink triangle’s trendlines. We can’t see on this chart how close the daily charts golden cross is from happening but it appears to be less than a few daily candle closes away from occurring. If this symmetrical triangle confirms its bullish breakout the target is around $11.32- $11.47. Reaching this target would bring price action up out of a much larger triangle that its been in for far longer that has a much larger breakout target to go with it, however we can see the stoch rsi on the weekly chart has ventures into the overbought zone so it increases the odds that when price action first retests this yellow trendline on the way to the target it will encounter it as resistance, same with the descending white trendline as well. The stochrsi is also overextended on the 1 day chart too increasing the probability that price action will encounter resistance along the way to the breakout target that may result in some level of correction. Still always possible it finds a way to break through both of these resistance lines with ease just a lower probability with stoch rsi already in the overextended zone. If it can sustain the breakout and reach its full breakout target then I believe it will sustain the daily chart golden cross and in time trigger the breakout from the much larger triangle pattern as well. *not financial advice*
COINBASE:LINKUSD
by DrDovetail
Monthly falling wedge on btcusd reaching its apex on bitstamp.We currently have 9 consecutive daily chart candle closes above this falling wedge. You cant see that here because it is the monthly chart. I think we will need at least 2 weekly candle closes above the falling wedge to confirm its breakout however. Other exchanges charts have had price action above their falling wedge patterns for even twice as long as this one has so that adds to the bullish confluence and probability that this pattern will soon confirm a break out upward. A breakdown from this pattern would result in an impossibly low measured move target so odds favor the break upwards. May still take a couple months to confirm however. (Not financial advice)
BITSTAMP:BTCUSD
by DrDovetail
10
We just hit my top QNTUSD breakout target & now have a new one!That was incredibly fast with practically no correction in between the last 3 targets we’ve hit. What’s interesting is the correction wick started forming at around 225 which essentially caused us to form another potential inverse head and shoulder pattern. This pattern is still very speculative considering we haven’t even began to form a right shoulder yet and with enough doom the price could easily blast back above this potential neckline and nullify the inv h&s pattern…however since I was able to predict the last inv h&s pattern precisely before the right shoulder formed and things tend to play out in fractals, it’s worth speculating that we may indeed be looking at yet another, bigger inverse head and shoulders pattern beginning to form its right shoulder here. Another great sign of bullish confluence for this becoming an inv h&s is if it does the breakout target (aka measured move) for this inv h&s would bring price action back up to the exact All time high! Anyways thought I post this now just in case it plays out like my previous ideas. Watching them obey TA so well has been very entertaining. No guarantee they will continue to do but would be awesome if they did. I will post my previous quant ideas below so you can see how well this has been playing out since June. *not financial advice*
COINBASE:QNTUSD
by DrDovetail
QNTUSD could validate the symmetrical triangle breakout here. Nice sized candle currently above the yellow symmetrical triangle..it has grown a mild bull wick since testing the thickerwhite line above the triangle which is the neckline to a bigger inverse head and shoulders pattern. It could come back down to retest the top trendline of the yellow symmetrical triangle…the most important thing is where the current daily candle closes and how the follow up candle behaves afterwards. As long as we close above the yellow trendline on the current candle probability favors the breakout…however breaking above the white neckline by the follow up candle and flipping it to support will really seal the deal. If we do validate the breakout I would not be shocked if price action came back down to retest the white neckline as support after reaching the triangles full breakout target at $166. If it can hold the white neckline as support after that its a good sign that the inverse head and shoulders pattern will be validating as well taking us even higher. Of course it doesnt have to retest the neckline to validate the inv h&s so wise to anticipate that outcome as well. One last thing to add is there is also a current smaller inv h&s we are breaking up from at the same time as the symmetrical. I forgot to put that patterns target on the chart but the smaller inv h&s target is $137. There’s always a possibility price action corrects after reaching 137 too. *not financial advice*
COINBASE:QNTUSDLong
by DrDovetail
4
DXY getting closer & closer to double bottom target from AprilWe can see this pattern’s breakout has definitely been triggered at this point and the price is heading closer and closer to the target that we called back in April. I will attach the chart idea from April near the bottom of this one. Only question now is do we reach 100% of the target. We still need to over come around 121 for it to confirm a higher high on the macro chart. I personally anticipate a lower high but either possibility is probable at this point. If we were to not hit 100% of our target before the next next downtrend then that would definitely clue us in. *not financial advice*
TVC:DXYLong
by DrDovetail
XRP continuing to hit bullish breakout targets!We can see the price action has hit the measured move breakout target of the blue symmetrical triangle…it is also now pumping above the 1 day 200ma on its way to hit the next target of the green channel it has also broken out of…once we hit that target we may see a retrace or slight correction or sideways consolidation before it continues upward because as you can see there is on this chart an even bigger triangle pattern with yellow trendlines that we have also broken above…I will save the target of that larger pattern for another idea. XRP continues to look very bullish. *not financial advice*
BITSTAMP:XRPUSDLong
by DrDovetail
XRP Dominance still breaking upAfter reaching the breakout target of the smallest inv h&s pattern with quickness, XRP.D already seems to be validating the larger inv h&s target it broke above on the way to the first target. I anticipate the brown trendline(which is part of a channel) to provide some resistance initially but for it to overcome that before too long and continue up towards its next inv h&s target. I will post a link to my previous xrp.d chart underneath this synopsis. *not financial advice*
CRYPTOCAP:XRP.DLong
by DrDovetail
XRPETH just hit the target of a micro inv h&s breakoutWe can see it has wicked slightly higher than the measured move breakout target. More importantly, in reaching the target of the mini inverse head and shoulders, it has taken price back above the neckline of a larger inverse head and shoulders pattern as well. I anticipate a retracement candle or few to retest the neckline of the larger inverse head and shoulders neckline as support if it can solidify that larger neckline as support we should see XRP continue to make considerable gains against ethereum in the coming weeks and possibly even months. Once we have confirmation that we are likely to validate the breakout of the larger inv h&s pattern I will post another chart that focuses on its measured move. *not financial advice*
by DrDovetail
Could ICP actually break to the upside for once?If we have indeed already found are market bottom, then we may actually see ICP break upward for once in its existence. If it does the target is all the way up at $11. It’s hard to trust this asset considering how far it has fallen, but at the same time, if there’s ever a chance this one can find a way to ever set a new all time high and I bought in at this level, I would stand to make a crazy profit if I could HODL it for that long (if it ever even comes close to its ath). Most people that would take this current trade would likely probably take profits once it hit the target which is always wise, however I may buy such a small portion here that letting it sits until a possible new ath wouldn’t phase me at all…grabbing a small amount here with money I can afford to lose is worth it I won’t have to stress about when to get rid of it and if I get lucky enough to see ICP hit another ath I can take it out at that point. If it continues to dip no big loss for me as I have nothing major invested in it anywyas *not financial advice*
COINBASE:ICPUSD
by DrDovetail
ETHBTC also breaking above large symmetrical triangle on monthlyThis triangle is found on the 1month log chart. This pattern is more speculative than the smaller inv h&s and bullflag patterns I posted in the previous idea to this that I will also link to this idea. If the ethbtc pair were to hit this symmetrical triangles breakout target ethereum would gain insane dominance against btc. Again this pattern validating is much more speculative than the bullflag and inv h&s patterns I posted in the previous idea…but as of now this pattern is still a valid one….even if not quite to be seen on the linear chart. *not financial advice*
by DrDovetail
3
Is Solana ready to confirm its inv h&s breakout?We can see Solana has successfully retested the bottom green neckline as support and is seeing a nice green cancel bouncing up after the retest greatly increasing the probability that it will confirm it’s inv h&s breakout and head to the mid $50s for it’s breakout target. On the way to that price target, we will clear the neckline of a slightly bigger inv h&s pattern and if we can maintain that neckline as solidified support as well then we should continue to head to its even higher breakout target not long after reaching the first one…we could see a correction after going above the higher neckline that takes us back to retest that neckline as support just as we have the lower neckline. *not financial advice*
KRAKEN:SOLUSD
by DrDovetail
Double bottom & bullflag both share the same breakout targetWe can see the double bottom pattern here in blue and the bullflag in lime neon green. Both breakout targets take us to the 26.3k range. This is great bullish confluence also great to see how when inside the flag the price action held perfect support when retesting the teal horizontal neckline of the double bottom. This all appears to be leading to something potentially much much bigger though as we can see on the coinbase chart price action is now above this descending white trendline. If we can flip this trendline to solidified support we might see a much bigger macro chart pattern breakout of a monthly chart falling wedge that has a much bigger target. I will post a separate Idea about that pattern and link both of these ideas together. Looking quite bullish overall I think the uptrend is going to be officially confirmed here. *not financial advice*
COINBASE:BTCUSDLong
by DrDovetail
3