The long triangle comes to an end and XRP has to decide what to do: upbreak or downbreak.
Although my gut tells me that we will see an upbreak I see some signs for a downbreak.
First: Fib level at 0.3185 will be difficult to mbreak
Second: there is a nice bearflag channel / flag which usually breaks down.
Third: there is a rising wedge which usually break down.
And: upper border of the triangle
So what to do now?
Should I listen to my gut or do I trust the signs that I see?
Actually there is a saying: trade what you see and not what you guess...
So at least for the moment we should see another touch at the lower border of the triangle and then we will see.
No financial advice, only my personal view on the current situation.
Although my gut tells me that we will see an upbreak I see some signs for a downbreak.
First: Fib level at 0.3185 will be difficult to mbreak
Second: there is a nice bearflag channel / flag which usually breaks down.
Third: there is a rising wedge which usually break down.
And: upper border of the triangle
So what to do now?
Should I listen to my gut or do I trust the signs that I see?
Actually there is a saying: trade what you see and not what you guess...
So at least for the moment we should see another touch at the lower border of the triangle and then we will see.
No financial advice, only my personal view on the current situation.