Get started

Inverted

Xrp now testing inv h&s neckline after breaking up frm sym trnglhere we can see the inverted head and shoulders and how xrp is currently testing the neckline. I have two price target as here in black boxes. The first one represents how high we should climb after breaking up from the small symmetrical triangle(in green). The second much higher price target is where we will go if we trigger the inverted head and shoulder pattern which I anticipate is a very good probability but for now we could still reach the first price target and then still do a fakeout of the inv h&s so be prepared for that possibility. If we do trigger the inv head and shoulder and climb all the way to the second higher price target, the good news is then we will also be right near the neckline of an even bigger massive inverted head and shoulders that could take us all the way to .00025 sats if we were to trigger that one. I anticipate a correction before we would test that one however if we do manage to climb that high...thanks for reading! *not financial advice*
Long
by DrDovetail
XRP Bullish during btc bear dip, #2 in market cap!XRP is looking very bullish now as it appears to have potentially flipped this yellow line it was struggling to get above from resistance to support after finally breaking above it and up and above the inside bar consolidation it was trapped in. This is a very bullish sign as it will now likely close abov this symmetrical triangle and trigger a nice bull break which will then put it above the top red line I have here on ym chart which is the neckline of the big inverted head and shoulder pattern it's currently forming. A bullish breakout of that inverted head and shoulder pattern will bring yet even more bullishness to xrp and if all of this continues to occur while the rest of the market heads downward then XRP could essentially cement itself permanently above ethereum as the number 2 crypto...One downside to xrps bull run happening now during a big bear dip in btc is that it could go parabolic here and reach its former peak against btc but not hit the $3.50 range if btc is this low...if it does go parabolic int hose conditions that would not be good because parabolic bull runs tend to usually retrace about 80%. Instead what would be preferred is for XRP to trigger this inverted head and shoulder pattern reach that target and then plateau and consolidate for awhile until the rest of the market flips bullish and has a chance to start catching back up a bit. That will ensure we still have room to continue up from there if it takes the time to consolidate and correct itself. Seeing as how both XRP and Stellar have recently had 1 day golden crosses I anticipate those 2 coins continuing to have bullish action while the majority of the rest of the market crashes. Of course this is just my opinion and not financial advice however so trust your own instincts. Thanks for reading.
Long
by DrDovetail
1
Huge bullish volume on XEM 1 day chart; Testing inv h&s necklineHard not to jump in on this with that giant volume bar on XEM I say wait until we have a confirmed break above the h&s neckline though that flips the neckkline from resistance to support and solidifies it with either 2 1 day candle closes above it or another huge influx of bull volume once it crosses above the neckline...it's already done a fake out once it could attempt a second and even third fakeout. Be vigilant.
XLong
by DrDovetail
1
Huge volume spike on zrx takes priceaction over neckline of ih&sI assume the hype about zrx soon coming to coinbase is the big culprit for why zrx has seen such a massive spike in bull volume that has brought it well above the neckline of its inverted head and shoulder pattern. However to trigger the breakout I think we will need the current 1 day candle to also close above the neckline...if so you can likely expect the price action to reach the green target posted here on the 1 day chart. A fakeout is still a potential possibility so tread carefully.
Long
by DrDovetail
Slight chance @ both a C&H on 1hr btc chart & an inv h&s patternKeeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr chart is so far holding support fairly well....the 200ma on the 1hr chart and the 200ma on the 4hr chart are sort of overlapping right now and acting as a kind of double reinforced support and the 4hr chart is also on the brink of a golden cross as well. If the 4hr charts 200ma can maintain support as well as the 50ma when it comes up above the 200ma if it maintains support I think these 2 patterns triggering can very much so become a reality but for now I'm not that confident in them only wanted to mention that they were worth keeping an eye on....below this in a follow up update I will post the inverted head and shoulder I decided to post it separately so you can more clearly see the cup and handle pattern but essentially the cup is the 2nd shoulder of the inv head and shoulder pattern.
BITFINEX:BTCUSD
by DrDovetail
Inverted cup and handle spotted priceaction testing necklineIn dark turquoise here I ahve drawn an inverted cup and handle pattern...the price action has sent a wick to the neckline...should we not climb back into the symmetrical triangle by the time this candle closes probability is very high that we could trigger this cup and handle pattern...if so the target drop would be down to the bottom trendline of the weekly descending triangle pattern...I think we could see nice support there around 5845 or so. This may of course though be a bear trap and we still have time to climb back into the symmetrical triangle pattern before the candle closes...try to be prepared for both outcomes.
BITFINEX:BTCUSD
by DrDovetail
Inv H&S Breakout confirmed but may not surpass 100maTHe projected breakout is posted here just under 6.7k. At first that seemed like it would clearly allow it to surpass both the 4hr 50ma(in orange) and 100ma(in blue). However the way the 100ma is now starting to tilt upwards could prove to allow it to maintain resistance and get above the projected target price before the price action reaches it....the 4hr death cross is now solidly in effect and would tak a lot more bullish action to reverse. It's possible but until I see the price action surpass the 100ma and both flip the 100ma from resistance to support and solidify that support...than I have to anticipate that the 100ma will provide some solid resistance especially now that the 4hr rsi is nearing oversold levels. Of course still very possible we can get more bullish action to come. For now I'm still neutral but right when the inv head and shoulders was confirmed I was long to the projected target.
BITFINEX:BTCUSD
by DrDovetail
4hr death cross occurred + inv h&s still valid= wait 4 the breakThe 4hr death cross has occurred, however priceaction still hasn't chosen a direction. The inverted head an shoulders is still very much valid. Gonna have to wait for a clear break one way or the other and hodl int he meantime or if you sold sodl. If it continues to simply ove sideways all month somehow then we may very well be experiencing the purgatory phase that occurs right before the follow up bull run. For now, Neutral.
BITFINEX:BTCUSD
by DrDovetail
5
Right shoulder of inverted h&s forming smaller h&s patternNot sure which way this will break but its very important to be aware of the current smaller head and shoulder forming inside the right shoulder of the inverted head and shoulder pattern...the drop target for the this smaller h&s pattern is not enough to invalidate the inverted h&s but there is always a chance for it to fall well past the drop target. Definitely something to keep an eye on. The RSI + stochrsi on the daily, 4hr, and hourly should help give us some indication of which way is more likely. As well as any bullish or bearish divergences.
BITFINEX:BTCUSD
by DrDovetail