XRP coming along the traffic intersection while having an indecisive moment...
If the lights won't turn green asap, an inverted cup with handle formation is a possibility and then it doesn't look too good...
If break-out of the parallel, and idem dito pennant occurs, a crossing of the 50 and 200 exp. moving averages will happen.
If the break-out fails or a smaller inverted cup (handle) will perform, the bullish trend will have to wait and it could go sideways again.
A fast drop to the previous low is a possibility as well, but it will only help a stronger bullish reversal.
(I am not so fond of moving averages) as they don't really predict movements, but happen after the action most of the time (you can think what you want)
Real patterns in combination with correct Elliott wave is a must.
... and of-course BTC !
If the lights won't turn green asap, an inverted cup with handle formation is a possibility and then it doesn't look too good...
If break-out of the parallel, and idem dito pennant occurs, a crossing of the 50 and 200 exp. moving averages will happen.
If the break-out fails or a smaller inverted cup (handle) will perform, the bullish trend will have to wait and it could go sideways again.
A fast drop to the previous low is a possibility as well, but it will only help a stronger bullish reversal.
(I am not so fond of moving averages) as they don't really predict movements, but happen after the action most of the time (you can think what you want)
Real patterns in combination with correct Elliott wave is a must.
... and of-course BTC !
Note
of-course... indecisiveness.. XRP is in baby-mode again, and needs BTC's mothermilk for rapid growth.. there's one positive thing... it is not a copy of the old correction from May till December last year.. this is a clear agreement to get everyone on board and fire off the shuttle at once...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.