XRP/USDT - 1W - Potential bull flags and channel breakouts
Hoping XRP will push up hard with/after BTC. Mid-Nov to mid-Dec could be crazy - the top even?
Binance Weekly XRP/USDT chart.
Blue curves showing overall long term trend.
Yellow channel (flag) and pole's measured move, both meet top of rising red wedge trend.
Yellow channel's measured move also hits the 0.5 fib extension from the last impulsive move up.
Yellow pole's measured move could tap the 0.618 fib extension area.
White bull flag pole's measured move, also looking like it wants to tap the 0.618 fib extension area.
Should price break up out of rising red wedge, measured moved hits a long term dotted pink trend line. It could even tap the 0.786 fib extension.
Price breaking below rising red wedge = bad times and/or DCA opportunity.
Let's see.
Binance Weekly XRP/USDT chart.
Blue curves showing overall long term trend.
Yellow channel (flag) and pole's measured move, both meet top of rising red wedge trend.
Yellow channel's measured move also hits the 0.5 fib extension from the last impulsive move up.
Yellow pole's measured move could tap the 0.618 fib extension area.
White bull flag pole's measured move, also looking like it wants to tap the 0.618 fib extension area.
Should price break up out of rising red wedge, measured moved hits a long term dotted pink trend line. It could even tap the 0.786 fib extension.
Price breaking below rising red wedge = bad times and/or DCA opportunity.
Let's see.
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