XRP has been forming a triangle pattern with a flat low and lower highs compressing into a point.
Generally this suggests that the bulls are willing to buy at a strong level but with declining strength, the bears on the other hand are repeatedly pushing price back down from lower points each time which leaves two possible scenarios that are actionable:
Bullish - A breakout above the downtrend line with significant volume, I think BTC will have a large part to play in this. Following the breakout a flip in structure with new highs and new lows would give the signal XRP is ready to go higher.
Bearish - This chart pattern generally does lead to continuation of selling off, the trigger would be a loss of the green box/equal lows. Should price break below a lot of the previous rally would look to be infilled, target price would be $2.35
Two good triggers and plans for each, anything in between is not actionable to me as I have no strategy that I am confident could produce a profitable outcome in the mean time, I'll be patient instead.
Generally this suggests that the bulls are willing to buy at a strong level but with declining strength, the bears on the other hand are repeatedly pushing price back down from lower points each time which leaves two possible scenarios that are actionable:
Bullish - A breakout above the downtrend line with significant volume, I think BTC will have a large part to play in this. Following the breakout a flip in structure with new highs and new lows would give the signal XRP is ready to go higher.
Bearish - This chart pattern generally does lead to continuation of selling off, the trigger would be a loss of the green box/equal lows. Should price break below a lot of the previous rally would look to be infilled, target price would be $2.35
Two good triggers and plans for each, anything in between is not actionable to me as I have no strategy that I am confident could produce a profitable outcome in the mean time, I'll be patient instead.
Not
Bullish scenario setting up nicely - Breakout and touch of the key level.Accept above this level triggers a long, or for a better entry a successful retest of the breakout.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.