Long
XRP / BTC Bullish Setup
Ripple looks like it's about to jump up relative to BTC! Seeing a large cup formation and a handle has already formed. It seems some sort of bullish movement is underway, but the trendlines have to be broken. Let's see how this plays out.
Note
A little more in detail: Drew the Fib ratios on the way down, if we hit a 50% its a good sign. 61.8% would not suck either. Basically we are waiting for the price to BREAK the red handle, (buy in #1), or to BREAK the peak of the cup (buy in #2)
Note
And technically this is the uptrend to the cup rim on the left. Which is why this pattern would make sense.
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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.