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XRP Golden Cross Trajectory Bumped up a day to November 1st.As we can see we are still inside the bull flag on the 1 day chart with the 1 day 50ma(in orange) acting as strong support and the 200ma(in blue) as resistance...based on the upward angle of the 50ma I have a feeling it will maintain support and ultimately push the price action above the 200ma and cause a nice bullish breakout from the bull flag which in turn should provide great rocket fuel for the golden cross. Currently because the prce action has remained above the 50ma it has risen the 50mas trajectory enough to bump the expected golden cross up 1 day from November 2nd to November 1st....At this point only a massive dip could prevent this cross. So there is a very high probability the cross will occur...however we need to remember that even though those are far more often bullish, there have been a couple instances in the past where the price has fallen after a golden cross and it ends up being a fakeout that just goes right back into a death cross a few days later. I'm pretty confident this golden cross will be sustained but will be prepared in case I see signs of a fakeout. You choose your own path as this is not financial advice and simply my own personal gameplan. Thanks for reading!
Long
by DrDovetail
XRP nearing what appears to be an inevitable golden cross. Moon?As the price action on the daily char continues, we can see the bull flag xrp is in is looking very likely that it could break upward. For many many days now the price has been moving steadily sideways keeping the trajectory of the 200ma(in blue) and the 50ma(in orange) completely in tact...I haven't had to readjust the angle of either of their hyphenated projection lines practically at all in many many days and now that the current price candle seems to be wanting to finally break upward above the bullflag, it only instills more confidence in me that we will see a golden cross occur either by the current trajectory of November 3rd or possibly even sooner if this flag breaks upwards. A golden cross has been very very bullish for XRP and the last 2 golden crosses we experienced on the 1 day chart happened right before the last 2 all time highs. So I'm fairly confident with a golden cross occurring here in early November that the next all time high will likely follow it. Of course we need to keep in mind that there have been 2 incidents int he past where shortly after a golden cross we nullified that cross soon there after with a death cross so it is indeed possible but there is far more probability we can sustain the golden cross once it occurs. Smart to be prepared for either outcome. 2 ways we wouldn't see a golden cross by early November would be 1. if the price suddenly plummeted exponentially(highly unlikely) or 2. If it somehow rose high enough to flip the 200ma's trajectory upward enough that the 50ma's trajectory couldn''t catch up to it(almost impossible) So overall probability favors moon time! Of course that's just my opinion not financial advice. Thanks for reading!
Long
by DrDovetail
BTC forming a very standard bull flag on the 1 day chartWe can see on the 1 day chart so far the pattern appears to be a very run-of-the-mill bull flag. However the pole on this flag is immense and if we do indeed break upward the momentum could take us back above the 1day 200ma(in blue) and up to the 7.2k region. Currently we can see the 50ma(in orange) has taken a slight downward trajectory, while the 200ma has started going sideways making our current chances of a golden cross at this trajectory not possible anytime soon with out an enormous bull surge in price action. Hopefully we will get one of those before year's end. Either way probability favors a break upward but we will have to wait and see what this bull flag wants to do before we can figure out which way its headed it could throw a few fakeouts along the way and even morph into a descending, ascending, or symmetrical pennant as the days progress. With such a long pole though it can continue sideways for quite some time as well before making its decision. Have patience and wait for a clear breakout that is backed by a surge in volume one way or the other. Good luck and thanks for reading! **not financial advice**
BITFINEX:BTCUSDLong
by DrDovetail
Bitcoin Daily Update (day 230)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. I recently posted Bitcoin Bubble Comparison - 3 Day Chart . It provided new dates and prices for the bottom, however it’s still slightly too early to abandon my predictions from the previous Bitcoin Bubble Comparison ]Bitcoin Bubble Comparison: 1 day - 5 days = < $5,750 | bottom prediction: $2,860 by 10/30 | Calling for $35 ETH around the same time Previous analysis / position: “If we breakdown $6,370 then it would confirm the bearish harami as well as the hanging man. If that were to happen I will be prepared with a small stop order set to short $6,369.” / Short USDT:USD’ from 0.968 Patterns: Descending triangle / bearish harami Horizontal support and resistance: S: $6,410 | R: $6,454 BTCUSDSHORTS: Really started to look like they will break out of the triangle to the upside. Once volatility picks up so will volume and we should see unprecedented levels of short sellers. Funding Rates: Longs pay shorts 0.01% Short term trend (4 day MA): Bullish (price above MA) Medium term trend (4 week MA | 2 & 32 day MA’s): Bearish | Bearish Long term trend ( 32 Week | 50 & 128 day): Bearish | Bearish Overall trend: If daily closes below $6,438 then all will be bearish Volume: Surprised volatility didn’t continue after the volume spike on the 15th. Now we are back to painfully low levels. FIB’s: 0.618 = $6,530 | 0.5 = $6,441 | 0.382 = $6,351 Candlestick analysis: Harami inside a harami. Can we get a 3rd matryoshka doll? Ichimoku Cloud: 4h cloud acting as strong support at $6,424 TD’ Sequential: Weekly red 2 will fall below a red 1 at $6,086. Placing a stop order there could be a good idea Visible Range: Gap in volume from $6,246 to $6,371 with 5 day look back Price action: 24h: -0.1% | 2w: +/- 0 | 1m: +2.95% Bollinger Bands: Daily MA acting as strong resistance Trendline: Top of descending triangle ~/= $6,725 Daily Trend: Chop Fractals: Up: $6,792 | Down: $6,057 RSI: Hanging around 50 on most TF’s. 4h is a little overbought Stoch: Recrossing bearish on 12h, going for retest on daily after creating higher high Summary: I am closely watching the red trendline on the USDT:USD’ 1 hour chart as well as prior historical support at 0.9642. As long as it stay below those areas then I do not feel very comfortable about holding a short on BTC’ or ETH’. Furthermore I am strongly expecting the lower wick from October 15th’s candle to get re explored, similar to what followed October 2nd’s candle. If it has another selloff then BTC’ and other cryptos should get another pump. If it stablizes then I will feel comfortable going back to my normal approach of 99% TA Nevertheless, trading is about risk reward and properly managing positions. If the r:r is tilted too much in my favor then I will open a large position regardless of what is happening with Tether and I will use a market stop loss if need be. I posted a chart earlier with a $35 target for ETH:USD and that is a prime example of something that is too favorable to pass up. In the mean time there is an incoming death cross on the 3D chart with the 50 and 200 MA’s. The first close below the 200 MA is what led to my most recent Bitcoin Bubble Comparison . Only other time this happened was in October of 2014.
BITSTAMP:BTCUSDShort
by Sawcruhteez
10
Xrapid live! 2 bullish long targets + golden cross symmetryWith the Garlinghouse announcement at SWELL that Xrapid is now live, the probability of this ascending bull pennant breaking up just increased tenfold. The breakup target from the pennant is the first green target the second is the target from the breakup of the old weekly descending triangle pattern we already broke out of. One thing in particular to take note of is the current trajectory of the 50ma and 200ma (in blue and orange) and how they symmetrically match the ascending triangle pennant but also the apex of the pennant is set to occur at precisely the same time as the golden cross of those 2 moving averages. Because of this I think the golden cross can likely occur at the same time we break out upward from the current ascending triangle. We will likely break upward from it sooner than the apex with the current bullish news, but if not I foresee us breaking upward by October 17th. From there we may see a retracement once the first target is hit, or we may just have a parabolic rise all the way to the second target...I would prefer a healthy correction between the 2 targets though to sustain the gains. If we just go parabolic the whole way we may experience a big dip to follow. So lets hope for a steady non parabolic moon.
Long
by DrDovetail
1
Rare analysis on LTC/ETH pairing; 1day C&H + Golden Cross We can see here on the 1 day chart of the ltc/eth pairing that we have a golden cross and an obvious cup and handle set up. Probability favors a bullish break upward above the rimline but you want to wait for 2 consecutive 1 day candles above the rimline to confirm the break because a fakeout is always a possibility even with a golden cross...if we break upward I have posted the expected price target here in the green box. The question is if the breakout does occur will LTC make its gains on ETH by ltc going up or eth going down
Long
by DrDovetail
5
Golden Cross on 4hr chrt as XRP clears 200ma on 1 day chartNow that we have hit over 50 cents and for a brief few hours xrp became number 2 over ethereum by market cap it is consolidation time....this is very healthy as both the 1 day and 4 hr charts were very overbought and we want xrp to sustain this price range and not just experience a pump and dump...SHown here is the 4hr chart to illustrate the 4 hour golden cross but on the 1 day chart the price action is also well above the 1 day 200ma now which if it can sustain these price points can and it just starts ceating bull flags that it breaks up from which judging by the weekly descending triangle pattern we busted up from it likely will then we should see a golden cross on the day chart before too long as well..hopefully by early october...a 1 day chart golden cross would be a mega bullish sign...and I'm still hopefull that we can climb back above $1 an even $2 within the next month or so....of course keep an eye ot for any bearish chart patterns to start forming to avoid any dumps that could occur with parabolic pumps....this one fortunately has decided to take a breather which means its price is more sustainable than if it had just continued to skyrocket.
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
1st weekly macd bullish cross of the entire yearA few very bullish things going on at the moment...we are about to close the weekly candle as a confirmation candle well above the giant descending triangle pattern we've been forming all year which if so will likely trigger the breakout. We are very near the apex of that pattern so a breakout now would not be unexpected. If we do breakout here then we have essentially formed a double bottom on the weekly chart, and the breakout target is still in the 14k region. Another very encouraging bullish sign is that on the 1 week mac d chart you can see we have finally for the first time this year had a bullish crossover when it comes to the weekly chart. This is coming after many long days of sideways movement which could very likely have been the purgatory stage before coming back around again to a bull market. We also see a huge spike in Shorts right now and also some of the biggest volume we have had in a while(bearish volume at that) and yet with all that bearish volume the price action is maintaining itself inside the current bullflag...makes me think some serious whales don't consider this a current top at all but possibly consider that the bottom is in. The other 2 big bullish signs is the golden cross that recently occurred on the 4hr chart and the 1 day golden cross that seems like it is currently on target to occur at the end of September as long as we can stay above the 1 day 50ma which has been holding very strong support recently. One other bullish sign is that we have once again achieved a higher high when we spiked into the 7.4k zone and can now continue our higher high higher low series by following it up with a higher low of 6.8 or higher...being that we have closed 5 consecutive 1 day candles above the 1 day 50ma(buy/sell line) I think it is very unwise at this point to short or exit your position and would instead recommend if a downtrend does occur to simply buy the dip until you start to see a lower low or lower high formation. Of course being that this is not financial advice I actually not recommending you do anything but make your own decisions. Good luck and thanks for reading.
BITFINEX:BTCUSDLong
by DrDovetail
1
4hr golden cross.We could potentially see like we did on a recent 4hr golden cross this year a sudden dump before we continue bullishly upward but right now things are looking rather bullish...either way we should be heading upward so I anticipate the majority of September being a bullish one. This is just my own personal inclination and in no way shape or form financial advice. We are currently in a higher low higher high pattern on the 4hr chart as well which means for now bulls still have control.
BITFINEX:BTCUSDLong
by DrDovetail
Golden cross next month If BTC triggers the inverted h&s patternWe currently already have the 1 day chart's 50ma trajectory tilted upward and the 200ma tilted downward at a steep enough trajectory for a golden cross to occur the 23rd of next month. However triggering this inverted head and shoulders could lift us above 7.3k and increase the upward trajectory of the 50 for the golden cross to occur even sooner. Seeing as how all the alts are doing phenomenal right now and XRP already triggered it's inverted head and shoulder pattern and hit its target I think it's very probable that BTC will be doing the same! Good time to go long. *not financial advice*
BITFINEX:BTCUSDLong
by DrDovetail
Correction continues; potential C&H + 3 possible support zones3 lines of potential support for this fall I'm seeing our number 1 at 7413 which is top trendline of the big descending triangle pattern / adam and eve neckline we broke up from # 2 is the 4hr 200ma at 7060-7080 #3 is the 1 day charts 50ma at $6853..to have a chance at forming a higher low on the day chart, triggering the current cup and handle unfolding and the 1 day golden cross one of these will likely have to remain support. If we can remain above the 1 day 50 MA then this will just be a correction that will inevitably resume the uptrend and the golden cross should occur hopefully sooner than originally planned, coupled with some positive ETF news to help us break out of this handle, break above the neckline and potentially trigger the cup!however a few closes under the 1 day 50ma and then we could be looking at an impending lower low on the 1 day chart. In the short term I'm short...but long in the longterm. Good luck and thnaks for reading! **not financial advice**.
BITFINEX:BTCUSDShort
by DrDovetail