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Golden

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
GLDFF Golden Leaf HLDGS LTD, Massive Gains! MMJ Rush?keeping it simple. It seems to have bounced higher then the previous low and has been squeezing long on the WEEKLY. This is bullish in the MMJ market at the moment, and has been over looked due to the mainstream stocks. They have a positive revenue report. I dont see any sell signals currently, just a small pull back to retest the higher levels, with possible breakout. This is a long hold for me, as Ive played the regular MMJ stocks already and some are just too far up as it is. Momentum is also bullish. Happy trading, debating and speculating! FOLLOW FOR UPDATES, and check out my other crazy accurate charts, including the only Tilray chart before it blew up 400%.
GLong
by ToddGreen
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
Big Surge in Bull Volume Takes Us Back Up Towards the NecklineA much needed bullish volume surge breaks price action back up above the 4hr 200 and 50MAs and sends us back up towards the neckline of the inverted head and shoulder pattern. People are attributing it to the rumor that Blackrock is considering getting into crypto ETFs. Botht he 4hr stochrsi and rsi are super extended in the overbought zones..so I think our most likely scenarios here now are either consolidate through a bull flag pattern for a bit to bring those indicator levels back down or potentially form a bart and dip back down a little bit to cool off the indicator levels. I still feel confident we will break above the inverted head and shoulder neckline eventually but probably not until after the futures expire on the 27th. This bullish break came at a crucial time too as the 4hr 50 and 200mas were wanting to create a death cross and this break should hopefully keep any death cross brief and send it right back into a golden cross. Although I am long term bullish, all factors considered here leaves this idea in the neutral zone.
BITFINEX:BTCUSD
by DrDovetail
7
Potential Inverted head and shoulders on the 1/4hr chartsWe got a nice little green impulse past couple candles with some very strange behavior going on with the orderbook over on gdax likely from bots.We can see now that we are a bove a very ugly looking inverted head and shoulder pattern but we can also see the 4hr stoch rsi is overextended and must eventually drop sooner than later. If we can maintain the price action above 6250 for the next couple 4hr candles we should see the inverted head and shoulders triggered which could take it to potentially the 6700s if so. There's an equally good chance however it could be a fakeout and a deeper dip could be on the way below our last low after simply forming a lower high here. For us to form a higher high we would need to impulse above 6.8k not impossible, especially if the inverted head and shoulders is triggered...probability still favors the bears at this point but I will leave this idea as neutral for now. Somehow even though the adam and eve double bottom has sadly been invalidated we still have a chance to trigger a triple bottom. if the triple bottom doesn't occur...I still think we will see a bullish turn around within a weeks time or so simply because the 200MA on the 1day chart is now starting to finally curl downward...it is still currently factoring in all price action from December 7th to now...but once it no longer factors in anything from before December 15th we should see a noticeable drop off on the 200MA, and if we simultaneously are going up ward enough to get the trajectory of the 50ma to point upward then we should see a 1 day golden cross sometime in July which will be a great sign for the bulls and potentially restart the bull market. For now, however I am neutral.
BITFINEX:BTCUSD
by DrDovetail
Inverted Head & Shoulder Pattern flirting with neckline.If we trigger a bullish break upward from both the inverted head and shoulder pattern and the falling wedge pattern we will next be testing the much larger triangle pattern we are inside's top trendline. Breaking upward from the bigger triangle pattern has the potential to take us to 20k+ and saeeing how we are nearing it's apex as well I think up is going to be the path of least resistance and still am fully behind my mantra of "To the Moon In June!". Also, the original pattern of the Adam and Eve double bottom is still very much in play and I predict all of these bullish patterns will be triggering in the next couple months as well as the impending golden cross on the 1 day chart. As soon as the 200MA on the 1 day chart no longer factors in the climb to the ATH from november-first half of december. The 200MA should drop significantly and trigger the golden cross that will kick the bull market into gear. The 200MA is currently factoring in all price movement from November 13th of 2017 until today....so by July it should no longer be factoring in the climb to the ATH and the 200MA should by then definitely dip below the 50ma on the 1 day chart, if not sooner. Looks like it shold be a bullish summer.
BITFINEX:BTCUSDLong
by DrDovetail
2
1day Golden Cross developing as BTC bounces back to 1day tline. Staying neutral for now as we seem to have found a resistance at the 1 day charts t line(in yellow). We never hit the huge bounce support zone of 7,000 before this rebound so there's still a slight chance we could head back down to test it....however the 2 most optimistic signs I see right now is first, we are reaching the apex of a triangle that I think will most liekly break tot he upside, and secondly the 1 day 50MA(in orange) is heading upwards towards the 1day 200MA(in blue) and I don't expect the 200MA to suddenly start heading upwards since its gonna be factoring in the drops we had in January, February, and April pretty soon...in fact I think the only reason the 200 MA has stayed up this high to begin with is because it was still factoring in the uptrend from last year that led to the all time high...once the 200MA on the 1 day chart no longer stretches back to November or early December it will likely drop like a rock...but you can already tell with the 50ma(in orange) curving back towards the upside that we will be seeing a Golden Cross sometime next month. Once we get a golden cross on the 1 day Time Frame is when I believe we will officially enter back into the bull market. Everything in cryptoland is currently at a discount in my eyes and I'm hoping to enter back in at a wise time when we were below 7,100 was the most ideal time to reenter..however since we never tested that huge buy wall that's hanging out at 7k there's a chance we may drop back down one more time...I believe it's wise to ladder a small portion in right now, and then ladder in more if we dip to that again but I'm fairly confident we will be heading upward most of the month of June. . . and still stand by my mantra "To the Moon in June!" Stay strong make wise decisions, maintain nerves of steel, and keep your eyes on that 1 day chart golden cross scenario.
BITFINEX:BTCUSD
by DrDovetail
2
7263 seems like it could be the handle bottom. I was thinking any lower than 7350 would greatly decreases the odds of our cup and handle pattern because usually the handle does not go down further than half the height of the cup. However a cup and handle as wella s the double bottom for that matter is not truly invalidated until the price action has dipped well below the bottom of that patter so with are current low of $7263 (which is not all that far from $7350) We still very much have a chance of triggering this cup and this double bottom if we can go upwards from here. You'll notice the price action is currently inside a falling broadening wedge which is inside another falling broadening wedge..those patterns tend to break upwards..Of course we must keep in mind that the head and shoulders pattern we broke down from the other night should have sent us to the 6300s and hasn't reached that price drop target yet meaning there's still a chance that could happen. I hope not because it would essentially invalidate the Adam and eve double bottom we've been following since April if it dipped that far but we must still be prepared if that were to happen. Bulkowski gives the head and shoulders pattern a 55% chance of meeting it's price target so this could also just be one of the times where it is in the 45% and doesn't meet it's target. If so now is a great time to get a discount and add to your position but I would wait until we see the next clear break one way or the other then choose what to do as far as exiting or adding goes. One other positive sign that I think will ultimately bring us up out of this mess is that on the 1day chart(not shown here), the 200MA is finally starting to turn downward and change its trajectory while the 50ma is on it's way up...if the 200ma and 50ma maintain or increase these trajectories we should finally get our golden cross on the 1 day chart within the next 2 weeks which should jumpstart the market again and allow us to climb back up to the adam and eve neckline which currently sits in the 9400s and because of its downward slant, is going to be easier to reach as each day passes. So despite us going below $7350 I'm still confident we can find a way to validate the cup&handle, and the adam and eve double bottom, but also fully prepared if the head and shoulders reaches its projected target. I hope you are too in whatever path you choose, and that choice will be yours alone as this is not financial advice. Best of luck and thanks for reading!
BITFINEX:BTCUSD
by DrDovetail
2