XRP Descending triangle

BITSO:XRPMXN   Ripple / Mexican Peso
We are seeing a descending triangle pattern on XRP hourly time frame. Usually this pattern is a sign of a continuation on a downtrend, but there are some interesting things to analyze.

- Stochastic is in the low area of the channel, and has just crossed, suggesting an upside movement is near (not matter if it is not to agressive but, considering that we are in the final side of the triangle, it do not need a huge bullish movement to break the pattern).

- The triangle fails to break at 2/3 of the pattern and has gone to the end of the Apex, this, (in some cases) can cause a failure in the pattern as the psychology of the market changes, causing a huge movement to the opposite side.

- There you can see a clearly divergence in RSI and the actual price, indicating that it could go upside any time from now in the short term, and, considering that we are just moving at the end of the Apex, any upside movement that close above the downtrend line, may cause a trend reversal and a failed pattern.

In the other way, considering the weekend, we might see not to much trading, and , if it doesn´t break in a convincing downside movement, the pattern will be cancelled and XRP will continue to move sideways over the weekend.

Bình luận: As we said, the pattern has failed and and very strong bullish movement has been done, this, mixed with the breakout of the triangle and the breakout of the downtrend is a 90% sure signal of a trend reverse.

We may see BTC going up to $1.8 resistance over the next week.
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người điều hành Giải pháp cho Website & Nhà môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất