Potential Dragon Pattern. Hump hit 0.382 FIB (HH-LL). My main entry signal will be a bar that closes above the yellow close-to-close trendline.
www.tradechartpatterns.com/?p=455
www.tradechartpatterns.com/?p=455
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Signal still not triggered. And maybe don´t gets triggered in near time. we will see... and in the meanwhile ask the opposite question. If XRP goes on falling, where could be the next resistance.
XRP was a sleeping Giant. After chinese banks get in it woke up. Last year when ETH gone life a similar pattern get formed. I marked the wave 1. As you see at the end of the year the HH of W1 ETH/BTC was the last resistance. This could also happen to XRP.
ATM the green dotted line from HH W1 act´s as resistanceline. IMO the last possible resistance will be HH of W1 XRP/BTC, also because the 0.786 fib is there
XRP was a sleeping Giant. After chinese banks get in it woke up. Last year when ETH gone life a similar pattern get formed. I marked the wave 1. As you see at the end of the year the HH of W1 ETH/BTC was the last resistance. This could also happen to XRP.
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And of cause 0.707 acted as resistance atm too. BTW 0.707 is 1/SQRT(2), in other words the reciprocal of the better known 1.414.