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Weeklychart

BTC retests ATH on several exchanges; completes cup of C&H.even though we could have still completed the cup of this weekly chart cup and handle at the previous high around 19.6k or so btc has made it an even more text book cup by retest the ath on several exchanges. Technically the highest we went in 2017 was 20k here on the gemini exchange and while we haven't yet retested that we have retested the ath that was reached on exchanges such as bitstamp and bitmex. We could still retest 20k first but as it sits currently it is a textbook cup so I anticipate we could very likely see a big correction here in the coming week or 2 if we do that correction could go deep enough to fill the cme futures gap around 9.6k however i will start laddering in longs around a 35% correction or so laddering in much more if we reach 40% and from the will ladder in a little more for each additional 5% we drop from there. I don't anticipate it dipping lower than 9.5k but it may rebound well before that and prevent me from opening any longs at all...this is just my personal strategy and not financial advice. Also, even though I anticipate a retrace/ significant correction here I will not be shorting myself as it is a bit of a dice roll to try and shot btc during a bull market. I instead will wait for an opportunity for a good risk to reward ratio on a long. One last thing to note: we just had the highest monthly candle close in btc history...a very bullish development indeed.
GEMINI:BTCUSD
by DrDovetail
2
BTC can begin its big correction here & still form Cup & HandleA lot of people are anticipating a retest of the ATH which is why we could very well reverse trend and see the massive correction we've been anticipating without going above our current yearly high of 19.5k we can see on the chart that this level still allows us to complete a very valid looking cup. I'm thinking the lowest point of the handle could potentially drop far enough to fill the cme futures gap all the way down at 9.7k but I will start to ladder in long positions well before that probably once we've corrected over 35%. Most bull market corrections are no greater than 30-42% but with as parabolic a run up as we just had the probability favors potentially correcting as much as 50 or even 60%....I will be laddering in well before that on my longs though so that way I don't miss the opportunity if it rebounds much sooner than that. I don't anticipate the handle lasting more than 3-4 months so I expect a petty fast plummet to find our bottom rebound support. For now this is all hypothetical we still very well may see one more rebound to retest the ath before the big correction in which case I'm thinking December 15th would be a good day for that to occur...but the good news is we don't have to retest to complete this c&h pattern. Once we break the Cup and Handle the breakout target is $36,000! I'm guessing we will have an extremely bullish Q2 in 2021.
GEMINI:BTCUSD
by DrDovetail
2
CHFJPY at the top of a weekly channel 🦐CHFJPY on the weekly chart (right) reached the top of the channel. Market is consolidating between 2 structures around the 115.500 and 117.500 areas. On the daily chart, price is respecting a descending trendline. IF the price will break above the trendline and break above the weekly structure we can set a nice long order according to our strategy. IF the price instead will break below the support structure we can set a short order. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
by InkyGrip
10
GBPJPY WEEKLY FORECASTHey Traders! Excited for another week of Trading. GBPJPY has been moving in abundance lately. Price still sits under the 200 day Moving Average, with no signs of upcoming breakage. In the last couple of weeks GJ managed to break A Strong Weekly Ascending Channel, & trade a full week above it. Price is currently testing that same Weekly Resistance level it broke. The Pivot Point also held strong after a second failed attempt to break it. I predict Bearish activity following another close under the Pivot Point level. I'm ready for what this week beholds... If you like this analysis please show your SUPPORT by Leaving a Thumbs Up! Comment Your Thoughts Below on GBPJPY
by lobfxempire
2
Weekly Chart Looks Extremely Bullish!Two simple patterns are all that's needed to be focused on right now on the weekly chart as we can see the weekly bull flag in yellow has clearly confirmed its breakout and we should see it reach it's breakout target of 14.4k! Also, by the bull flag reaching its target this should also fully validate and confirm this weekly inverse head and shoulders pattern I've been watching develop since last year and predicted would develop many many ideas ago. A fakeout still has a microcosmic chance of happening of course so we should always be prepared for the unexpected but now the odds tremendously favor the inverse h&s will be confirmed. So buckle up! It seems price action is about to go stratospheric!
COINBASE:BTCUSDLong
by DrDovetail
4
Falling wedge on XRPETH suggests 130-140% gains for XRPLooking at the weekly chart here we can see the XRPETH chart is reaching the apex of a falling wedge its been in for quite some time. Should this see a bullish breakout upward we could see XRP make 130-140% gains against ethereum based on the measured move for the wedge. This pair's chart can be harder to predict than normal usd, btc, or tether paired charts but on the 1 day chart xrpeth is currently holding support above the 1 day 50ma. If it can maintain that support then we should see a bullish breakout from the wedge. We must keep in mind that often wedge breakouts only reach 60% of the measured move, but I've also seen plenty of wedges reach their exact targets and quite a few exceeding those targets as well and considering we are just now seeing the bull market begin it should increase the likelihood of this pattern reaching its target. Also XRPUSD is days away from the golden cross to put it in an official bull market which lines up pretty well confluence wise with where this wedge pattern would break upward.
Long
by DrDovetail
A simple weekly bull flag to 16kIf this breakout is confirmed on the weekly then the target is 16k...in addition to this simple bull flag on the weekly chart we also just broke above the neckline of a weekly inverse head and shoulders pattern too which has a similar breakout target I will show that in a separate idea. Based on the volume we got today I have a feeling we will see a solid volume confirmation of the breakout on the weekly soon enough as well. This breakout is not 100% confirmed on the weekly yet but judging by the volume on the 1 day chart it is much more likely at this point to be a validated breakout than a fakeout.
COINBASE:BTCUSDLong
by DrDovetail
1