XRPUSDT Re-Accumulation Pattern (Wyckoff)
This analysis is meant to illustrate the accumulation post the August 18th selling climax and automatic rally establishing support and resistance zones.
Wyckoff Re-Accumulation:
- Phase A & B sideways move lasted for about 13 days, with one retest of support.
- Phase C retest springs followed with sideways movement and a test and kickstart of a trend reversal.
- Phase D upwards channel is tightly traded
- Phase E missing, awaiting signs of strength: push beyond resistance
Additional Indicator Analysis:
- RSI has not reached oversold territories and has some upwards potential of a structure breakout, or accumulation at resistance levels.
- MACD has a golden cross within the next couple days, last dead cross appeared 14 days ago,
XRPUSDT
Wyckoff Re-Accumulation:
- Phase A & B sideways move lasted for about 13 days, with one retest of support.
- Phase C retest springs followed with sideways movement and a test and kickstart of a trend reversal.
- Phase D upwards channel is tightly traded
- Phase E missing, awaiting signs of strength: push beyond resistance
Additional Indicator Analysis:
- RSI has not reached oversold territories and has some upwards potential of a structure breakout, or accumulation at resistance levels.
- MACD has a golden cross within the next couple days, last dead cross appeared 14 days ago,
XRPUSDT
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