Ripple | Round Two Coming Up? Potential Breakout [XRPBTC]
Like I mentioned in my earlier analysis, it seemed like the RSI needed to cool off a little before Ripple could make another move.
We had two days of consolidation now and created a nice bull pennant, which often results in continuation to the upside.
A Long trade would have a pretty good Risk/Reward ratio right now.
First target could be the next resistance level around 55000 Satoshis (8% gain), second one around 61500 Satoshis (20% gain).
A Stop could be right under the pennant.
Have a nice day!
We had two days of consolidation now and created a nice bull pennant, which often results in continuation to the upside.
A Long trade would have a pretty good Risk/Reward ratio right now.
First target could be the next resistance level around 55000 Satoshis (8% gain), second one around 61500 Satoshis (20% gain).
A Stop could be right under the pennant.
Have a nice day!
