XRP/ BTC Looking Ahead #2
Updated
We see the beginning of a cup and handle forming.
The important key is to look left. You will see a large volume increase before the half-cup retraced back down to test support again. Due to this volume support, the Cup and Handle is in play to form. As volume further increases, we can further verify this.
Following the breakout to Target 2 and toward Target 3, there is the possibility for another cup and handle to form on the retracement, since many will be able to get out of margin positions and back in, support should hold and move past to create a new ATH.
We shall see.
The important key is to look left. You will see a large volume increase before the half-cup retraced back down to test support again. Due to this volume support, the Cup and Handle is in play to form. As volume further increases, we can further verify this.
Following the breakout to Target 2 and toward Target 3, there is the possibility for another cup and handle to form on the retracement, since many will be able to get out of margin positions and back in, support should hold and move past to create a new ATH.
We shall see.
Trade active
Trade active
Trade active
Adding to positionTrade active
Adding again to position
Trade active
Note
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.