(4H time frame)
We have a symmetrical triangle confirmed by the decreasing volumes, bitcoin just set new ATH in the past days and we should expect a healthy retracement to the 18k-19k levels so that we could also retest previous ATH and set the structure as solid support.
In the daily time frame, XRP printed 4 doji in a row which represents the big uncertainty of the market right now. So, even if a symmetrical triangle often can be a continuation of the current trend (uptrend), I think it’s more likely that we break down due to bitcoin retesting ATH and bringing all markets with it.
Down where? To 0.52 - 0.485 levels. I'd like xrp to print higher lows to confirm even more the current uptrend.
We have a symmetrical triangle confirmed by the decreasing volumes, bitcoin just set new ATH in the past days and we should expect a healthy retracement to the 18k-19k levels so that we could also retest previous ATH and set the structure as solid support.
In the daily time frame, XRP printed 4 doji in a row which represents the big uncertainty of the market right now. So, even if a symmetrical triangle often can be a continuation of the current trend (uptrend), I think it’s more likely that we break down due to bitcoin retesting ATH and bringing all markets with it.
Down where? To 0.52 - 0.485 levels. I'd like xrp to print higher lows to confirm even more the current uptrend.
Comment:
Another approach might be a repeating flag pattern.. Check my other idea to see that.
Comment:
SEC lawsuit news created huge FUD and made the price break the monthly resistance level at 0.435. It seems we're back up on the safe zone. We'll see how it evolves in the next day.
