DrDovetail

DrDovetail

So the bull in bears clothing (the descending wedge cloaked inside the head and shoulders) just let the bulls lose and we have massive volume spike to confirm the breakout above the purple descending wedge. Based on the angle and height of the wedge we have a projected price target ofm 9600....normally I wait for a second 4 hour candle to close before confirming...

DrDovetail Updated 

One potential upside to mention is that the "dread and shoulders" pattern has within it a very sizeable descending wedge which basically consists of both the head and the right shoulder....descending wedges tend to break towards the upside....so if we see a bullish breakout with lots of bull momentum to go with it and a bullish volume spike and then a double close...

DrDovetail Updated 

Just wanted to show you all how the purple ascending wedge once it was broken out of dipped the exact height and angle of the wedge...so a very reliable pattern. Also wanted to note that we now have 2 4 hour candles that have closed below this head and shoulder neckline with the bulls desperately trying to lift it back up above the neckline...so far on the 1 day...

DrDovetail

BTC has just reached the target price drop of the ascending wedge breakdown shown by the purple dashed line. WWhile it doesn't surprise me it hit this price, it does worry me, because now we are in real danger of breaking below the neckline of this current head and shoulders..we have already sent a wick below it. In order to break it we will need at least 2 closes...

DrDovetail Updated 

Lots of short signals here. The first one is that wre now have yet another 1 day candle closing below the 200 MA. The second big one is on the 4 hour chart where a day or 2 ago the 100 SMA did a death cross under the 200 SMA and is currently continue to trend donward from it, leaving us with the 100SMA under the 200SMA and the 50SMA under both of those..all strong...

DrDovetail Updated 

It looked as if there was a slight glimmer of a potential bull breakout from this current bear flag on the 4hour chart as the last 4 day candle found a way to close just above the trendline....however we all know that its not an official breakout until we close 1 more additionalc andle above the flag and at the same exact time that 4 hour candle closed above the...

DrDovetail Updated 

As you can see the past fe candles have been more or less trading sideways....I anticipate the price will break downward bearishly out of the current flag, which should help the price continue to reach the drop target from the larger bear flag of around 5700....I still have a limit buy back set up at 7590 and am waiting patiently...I expect it to go even further...

DrDovetail Updated 

here is the link...I shorted around 8500 and am going to try to buy back in around 7590 however after a double bear flag breakdown it's liekly it could dip all the way to the grey trendline and perhaps wick below it to the same levela s februarys low which could create a massive double bottom and shoot us right back upward.

DrDovetail Updated 

With the 1 day candle closing on the trendline wall as a green long legged doji, we have a nice solid bullish 1day candle now it appears to be doing the same thing the past few 1 day candles have been doing though which is having their daily high hit the Tline(in yellow) and then bounce back down off of it. Today has been no exception you can see it has bounced...

DrDovetail Updated 

At the moment we can see that the top channel trendline is currently acting as resistance again but we also have the t line in yellow overlayed over it as well which will only reinforce that resistance...even though the current candle has started out very bullish and the depth chart seems to suggest the momentum is for thee temporary time being favoring the...

DrDovetail Updated 

A great sign for the bulls as the 1 day candle has closed green above the green descending channels top trendline. However the last 4 hour candle closed as a red spinning top so we may see a dip downward in the next 4 hour candle or 2...What we want to keep an eye on is whether or not if we dip all the way back down to the green descending channels top trendline,...

DrDovetail Updated 

After 6 red 1 day volume bars in a row it appears like we will finally have our first green volume bar in awhile...looking back in the past at btcs volume history the longest stretch of consecutive red volume 1 day bars seems to be 6 so odds are quite good that today's volume bar and candle will both close green. We can see that the old top trendline of the...

DrDovetail

As much as we wanted btc to break the neckline of the inverted head and shoulder pattern and as much as it looked like it was going to we unfortunately had a flash crash and once the 5th candle to close on the 4hr chart under the buy sell line (50MA) that was a sign that you needed to be looking to sell....now that we have plummeted all the way back to the 200EMA...

DrDovetail Updated 

Hey all...On the 4hr we can see that the 200 EMA has been doing a great job on the last fe 4 hr candles playing the role of strong support. Also take note that RSI seems to have met near oversold conditions both seem to suggest a reversal in the near future back to bullish momentum.

DrDovetail Updated 

Normally you want to look for at least 3 closes below the buy sell signal (50MA in orange) before you consider it to be a sell signal but we have currently just dipped below the 50MA we hav en't closed below it yet but it started when we reached overbought conditions again on the RSI then macd gave it's sell signal then we went under the t line also a sell signal...

DrDovetail

BTC has yet to close 2 consecutive 4 hour candles above the neckline and instead continues to flirt with it and play hard to get. We've bounced under the tline but are still well above the 50EMA as well as the buy sell sign so it's still very much a buyers market see this as an opportunity to buy the dips...with each passing day breaking the neckline shoudl become...

DrDovetail Updated 

We are officially above the neckline on the 4hr chart!! And with only 4 minutes left to go before this 4 hour candle closes...we may actually close this candle above the neckline! Very exciting time to be invested in btc! Now remember folks we still even if it closes above the neckline on the 4 hr chart are going to need the next 4 hr candle to close above it as...

DrDovetail Updated 

The past 3 4hr candles have been somewhat indecisive closing as dojis with the most current 4hr candle started by dipping down low as a red candle all the way to the support line of the TLine(in yellow) before bouncing back upwards. Thecurrent minor retracement/dojis is mainly due to the RSI reaching up and touching the 70 range on the 4 hour...However the RSI is...