The probability this will play out exactly as I think it will is around 5%. Probably even less.
But there's always a chance.
0.44 is strong support with ascending bottom trend line. If that holds, we have 2 triangles coming our way (respecting both top and bottom trend lines) which will 'squeeze out the prices'.
1st resistance after squeeze 1 is 0.6 + top descending trend line
2nd resistance after squeeze will be 0.8 + top descending trend line
After which we finally break out of sub 0.5 - 0.55 levels and continue up to test 0.65 where we might get rejected couple of times but I think this will be final resistance before we enter ascending channel and continue to $1 and beyond.
This is my own opinion regarding TA, not really connected to Ripple and SEC and this is not trading device.
But there's always a chance.
0.44 is strong support with ascending bottom trend line. If that holds, we have 2 triangles coming our way (respecting both top and bottom trend lines) which will 'squeeze out the prices'.
1st resistance after squeeze 1 is 0.6 + top descending trend line
2nd resistance after squeeze will be 0.8 + top descending trend line
After which we finally break out of sub 0.5 - 0.55 levels and continue up to test 0.65 where we might get rejected couple of times but I think this will be final resistance before we enter ascending channel and continue to $1 and beyond.
This is my own opinion regarding TA, not really connected to Ripple and SEC and this is not trading device.