XRP / BitcoinLong
XRPBTC - Falling wedge breakout! History repeats...
In spite of the 90%+ retrace from all time highs, the pattern of the retrace has been a descending/falling wedge, which is bullish once the breakout occurs. Notice that the pattern in 2017 is the same... a falling wedge followed by a massive breakout to the upside. Will this time be the same? Time will tell, but I wouldn't want to be short right now. Volatility and volume is back with a vengeance!
Sometimes, price will try to retrace back to the descending upper line of the wedge to give it a "kiss" before taking off again to the upside. I will be looking for any sell opportunities to add to a long position.
Sometimes, price will try to retrace back to the descending upper line of the wedge to give it a "kiss" before taking off again to the upside. I will be looking for any sell opportunities to add to a long position.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.