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4hr chart xrpusd ascending triangle not the dominant patternI was slightly dismayed here upon seeing several 4hr candles close below the 4hr chart ascending triangle pattern but upon realizing they haven't triggered any sort of breakdown decided the best thing to do was to zoom out and see if I can find any pattern on the 1 day chart that may in fact be the more dominant pattern and more relevant pattern we are currently working with...low and behold I did figure out on the 1 day chart that we had broken above a symmetrical triangle and are currently retesting its top trendline as support. Being on a larger timeframe, this pattern should carry more significance than the ascending triangle on the 4hr chart carries...let's hope this is the more valid of the 2 patterns because this one has a breakout target above the 70 cent range. If it is the more valid pattern we will likely see a bullish surge here for xrp in the next couple days or so. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
giant bull flag has a target of 77k if confirmedlots of bullish confluence at the moment and this is our third overlapping bullish pattern right here that we are currently breaking out of...It is also a valid bull flag on the weekly chart as well but I chose to show it here on the 1 day timeframe to better illustrate the trendlines of the flag. not 100% validated just yet but looking good and with all the other pattern breakouts acting in concert with this we have enough bullish confluence to greatly increase the odds of this breakout being validated. Probability currently favors a breakout to the upside....if this occurs we should head to 77k...however we must remember that this could be more valid as a weekly chart pattern then a daily chart pattern so the climb to reach the 77k target could take several weeks. *not financial advice* .
GEMINI:BTCUSDLong
by DrDovetail
3
the 2 biggest bull patterns to watchA giant symmetrical triangle on the 1 day chart with a target of 20k! Price action is currently above the top trendline of the triangle...and the triangle is likely not invalidated with the dip below it during the march crash likely being an outlier we can discard thus making the triangle still valid. Also in purple, we can see the inv h&s patterns breakout target is 17k and we have yet to hit that but have bounced up off the inv h&s neckline after retesting it and doing a breakdown fakeout. The key to hitting either of these targets however is to first solidify 12k as solid support though.
GEMINI:BTCUSDLong
by DrDovetail
2 potential H&S Patterns that could dump price to 9.6k whichever one of these head and shoulders patterns is mroe valid matters not as if either validates the breakdown target is essentiallly the same. If this occurs we will likely fill the 9.6k CME futures gap. I assume once the gap is filled things will be bought right back up and if it does breakdown this will simply be one last effort to liquidate all overleveraged longs. Dipping down to 9.6k will still just be a higher low as long as rebound shortly there after.
COINBASE:BTCUSD
by DrDovetail