The triangle above long term ( 2017 ) support is about to close. Why going Long ? There's nothing confirming it on the chart: it's a bet. A risky one. Basically i think the Foundation wouldn't allow a strong support breakdown and a sub 0,20$ XRP price. So i'd watch out for an organised pump within the next couple weeks. Otherwise things may turn really bad ...
Bears may push price down to 3250-3300$ ( key support area ) or even into low 2000$. Yet as long as that falling wedge holds bulls will finally have the upper hand. So it's a Long already ? Not yet, but maybe it's not that far. It's *about time* to stop caring about the bottom and to start *patiently building* a Long medium term position. Use dips to your own advantage.
Seemingly a diamond bottom. Bullish bias as long as price breaks up pattern on volume. We had an unconfirmed falling wedge ( breakout on no volume ). We still have a slight bullish divergence on RSI, unconfirmed on MACD. Watch for the breakout, BUT remember to look for confirmation in volume. Mind the support ( blue ) and resistance ( red ).
See the patterns shown on chart. Currently awaiting confirmation of a bearish flag OR a formation of a diamond bottom. The latter is mere hypothesis, hinted by what could be its left side.
We have a big and almost symmetric triangle on candlestick chart, which is further confirmed by RSI. All you need to do is to sit and wait for breakout of both.
Accumulating on dips and / or buying a breakout may be a long term winning strategy. Just keep in mind that this falling wedge may technically allow a price < 40$, even if that's not much likely. So don't be too eager. If you wish to accumulate do it by buying small lots.
* Weekly RSI about to close under 30, first time since 2015 bottom. * Remarkable bullish divergence. * Price sitting on top of weekly MM200, failing to close under it within the last 2 days. * Falling wedge. * Chance of a ( rather ugly ) Morning Star sitting upon MM200 -IF- today ( Dec. 16th) close will be over about 3250$. Scenario is suitable for a reversal,...
Falling wedge, wait and watch for breakout. It may still go a bit down short term, but it's then likely to break up. Looking good longer term. -- As per request.
Attractive Long trade from here in terms of risk / reward. Falling wedge, oversold, massive divergence. Do your own diligence, take care.
Price is sliding on long term support ( previous resistance ) encompassing ATH and August LH. It may paint a broadening descending wedge between ( red ) "short term resistance" and descending support. If so a low may sit anywere between here and 5700$ (circa), as long some bullish reaction comes within 2-4 days. The macro picture on OBV is quite interesting...
Bearish flag may hint right H&S shoulder. Minor bullish flag/pennant got invalidated. Price close to Daily upper BB. Stoch RSI overbought. Play safe.
Careful here. Unless that big (red) pennant gets negated things will turn bad. Watch out for a break down.
Uncomfortable place for a bearish flag. Moreover MACD is ugly and lower BB not too far. RSI on its own support ( channel ). Only Stoch RSI looks "healthy". Lately each and every pattern was respected: falling wedge, bullish flag, rising wedge, descending triangle. Now it's time to either confirm or negate this flag ... I'd suggest caution here.
Well expected correction from the tough SMA200/D resistance to SMA100/D support. So far price has found some support onto 0.618 FIB of the last upswing. Falling wedge and possibily a ( quite stretched ) "interim" bullish flag. Price needs to promptly react from here and to move towards and above 7800$ area in order to look for a Cup & Handle. Daily close (...
Chart looks bad, a pullback is needed. Look for FIB 0.382 or 0.5.
Which is encouraging. Yet worth keeping an eye on weekly OBV, triangle tightening means a big move is approaching:
One month later price action still pretty similar. 20 days from break-up to resistance ( dashed line ), both in 2013 and 2018. RSI 51,9 should hold in order to further corroborate similarity.