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Inverse Head and Shoulders

Something very peculiar is occurring with XRP dominanceUsually when the candles go upward on the xrp dominance chart, the btc dominance chart is going downward and the liquidity along the xrp dominance chart go up is coming from bitcoin liquidity. This time however something has changed. XRP dominance is rising substantially all while bitcoin dominance is also still rising. This suggests that the liquidity is no longer coming from btcoin but instead from other sources likely institutional investors. We can see the candle on the monthly has broken above the neckline of a large inverse head and shoulders pattern on the logarithmic chart. Will be interesting to see how well this plays out. Chart patterns don’t behave as they usually do when working with these kind of charts so it’s no guarantee what looks like a bullish breakout currently will behave like one. I will definitely be keeping an eye on this as it develops though *not financial advice*
CRYPTOCAP:XRP.D
by DrDovetail
Total3 chart breaking up from inverse head & shoulders patternThis is the chart that is every altcoin except for ethereum. Bitcoin is also not factored in. We can see it appears to have broken upward from the inverse head and shoulders pattern and the breakout target should be around 1.27 trillion. We also currently have the potential for a cup and handle to be formed with an even bigger breakout, but I want to see an actual handle forming first before I post a target for anything like that. *not financial advice*
CRYPTOCAP:TOTAL3
by DrDovetail
1
Vechain attempting to flip inverse h&s neckline to supportCan see here on the weekly timeframe chart how it’s already closed one weekly candl above the neckline.there have been many daily chart candles recently battling to main support on that neckline as well and also an impending golden cross on the daily chart time frame set to occur in tthe next 1-2 daily candles as seen here —-> blob:https://www.tradingview.com/e00ebf4c-9780-485c-a37a-9d603aec6fd4blob:https://www.tradingview.com/e00ebf4c-9780-485c-a37a-9d603aec6fd4 Since btcoin is still in the midst of it’s first correction since it has entered the parabolic phase of the bull run and we are so close to Black Friday which is often a time of year one can scoop up cryptos at a discount, this impending daily chart golden cross may be one of the few exceptions atelier where price action doesn’t immediately hav a big pump the same day as the cross. Vechain could always break apart from the pack though at that point as well and pump while most things are still correcting. Also a slight chance the market correction is over before Black Friday too. Whatever the situation may be, if we see Vechain correct here as well but also hold support on the daily timeframes 50ma,I will likely add a little bit to my Vechain stack *not financial advice*
BINANCE:VETUSD
by DrDovetail
2
For now SOLUSD is retesting invh&s neckline as precise supportA good sign that the bottom could potentially be in. Of course there’s always the possibility of some sort of unexpected bald swan to dump the market much further, but even then that could be such a temporary occurrence that by the time the weekly candle closed it still closed the candle body above this neckline. At the bare minimum I get the vibe that at least the monthly candle body can maintain this neckline as support, but we will find out soon enough. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
3
XDC working on a double bottom/invh&s combobreakerAfter some very bullish priceaction over on the 1day chart, coinciding with the 1day chart’s golden cross, : XDC has now found itself above the weekly 200ma (blue line)show on this weekly timeframe man idea I posted at the top of this page. Once it can solidify support on the weekly 200ma it should then break above both the tan trendline(inverse head and shoulder neckline) and the green trendline(double bottom neckline) once it hits the top target for the double bottomsbreakout XDC will then have made over 800% gains since the bottom of the market where it was trading at just below 2 cents. Now that it has gotten the same daily chart golden cross springboard launchpad several other alt coins have gotten I think it will reach these targets sooner rather than later. *not financial advice*
BITFINEX:XDCUSD
by DrDovetail
XDC working on a double bottom/invh&s combobreakerAfter some very bullish over on the 1day chart coinciding with the 1day chart golden cross: XDC has now found itself above the weekly 200ma (blue line)show on this weekly timeframe man idea I posted at the top of this page. Once it can solidify support on the weekly 200ma it should then break above both the tan trendline(inverse head and shoulder neckline) and the green trendline(double bottom neckline) once it hits the top target for the double bottomsbreakout XDC will then have made over 800% gains since the bottom of the market where it was trading at just below 2 cents. Now that it has gotten the same daily chart golden cross springboard launchpad several other alt coins have gotten I think it will reach these targets sooner rather than later. *not financial advice*
BITFINEX:XDCUSD
by DrDovetail
LTC Breaking above tan invh&s neckline, right on goldencrossI have the weekly chart timeframe selected here simply because I needed to expand the timeframe on the chart to be able to fit both inverse head and shoulders patterns and their respective breakout targets in the frame. Wanted to put the timeframe on the daily chart so. Could show once again how these recent crypto pumps have all being launching on the exact day that the Daly golden cross occurs. I will post. Daily chart version of this as well that zooms in on the golden cross and subsequent priceaction and link it below. Anyways it looks like on this 2nd breach above the tan neckline that Litecoin is likely to finally trigger a breakout ths go around. If so the highest measured move target is in the $170s here, and reaching it will obviously also allow us to hit the white inverse head and shoulders breakout target too on the way there. In order to ensure that price acton doesn’t dip back below the tan neckline for a second time, it will need to flip the weekly 200ma(blue line) to solidified support once that happens I think it will definitely confirm the breakout at that point. Alt season has officially began! *not financial advice*
COINBASE:LTCUSD
by DrDovetail
1
2 overlapping invh&s patterns on the weekly logchart for XLMThe inverse head and shoulders with the yellow neckline is the same one that is on the linear chart, however on the log chart you get a much higher target of around 44 cents. Reaching that target will also push price above a second bigger inverse head & shoulder neckline (in green) which once that one validates its breakout, it’ll have a full target of around 81 cents. Watch for the weekly 200ma(in blue) to hold support here if so not a bad place for an entry, if not retesting the yellow neckline or even throwin a wick or few back below it is not impossible and would create other good small entry opportunities as well. *not financial advice*
COINBASE:XLMUSD
by DrDovetail
2
DGB blasts above double bottom target; invh&s now in play.Digibyte reached the double bottom breakout target and then some with yesterday’s big green candle. Now that it has spent the current daily candle consolidating, it has already consolidated long enough to make it so there is currently a valid inverse head and shoulders pattern in play on the 4 hour chart. If it takes a few more daily candles of consolidation before the next leg up then that inverse head and shoulders pattern will probably also qualify as a daily chart pattern as well. Digibyte has room for lots of upside, and now that I’m realizing it is a US based cryptocurrency, if Trump truly were to exempt US cryptos from capital gains tax, then I think it is a high probability digibyte could see new all time highs this bull run, which would mean tremendous upside from here. Even if digiibyte were simply to just trigger the breakout of this currently developing inverse head and shoulders pattern though, the target for that would almost double digibyte’s current value. So yes tremendous upside potential here. *not financial advice*
CAPITALCOM:DGBUSD
by DrDovetail
5
Inverse head and shoulders and golden cross on algorandMuch like litecoin’s current setup, algorand is also in the midst of completing the right shoulder of its inverse head and shoulders pattern as a golden cross is set to occur in the next 2 -4 daily candles. Hopefully the golden cross on both algorand and litecoin provide the same bullish momentum we’ve seen it already provide xlm, solana, and the total chart, if so we should see the price action break above the enckline of this inverse head ad shoulders pattern not long after. I’ll link the litecoin chart down below for easy access to compare the similarities between these two charts. *not financial advice*
COINBASE:ALGOUSD
by DrDovetail