Long

XRP 3 lines

Updated

three lines that say everything :-)

Note

Having broken through the longterm downtrend line, the price action has developed a broadening wedge, which is usually a bearish pattern, also, the price will often come back to test the downtrend line before continuing to rise.

I see the possibility of visiting .22 before we go to .4 and beyond

Note

As I said in the last update, the price wanted to test the downward trendline, now it's done, depending on what BTC wants to do next, we could be over the worst of the bleading

Note

Above *Bleeding

There is another scenario that is worth entertaining too;

The price has been moving in a broadening wedge which is a bearish pattern, when the price breaks through the lower trend, the expected target is the area where the price action went into the wedge, so .1757 is not impossible!

Note

Price broke above two major long term downward trendlines (blue lines) and retested, now maybe showing the start of some upwards momentum.

Weird things are afoot in the economic world, $1.75 trillion wiped from US stock in just a few days, stocks are tanking! The commodities market is rinsing all the but the highly skilled and the bears have ground the crypto market to it's knees.

Lots of traders, investors have liquidated and are sitting on cash now, and these signals of a reversal on crypto, and especially XRP have not been ignored, the bulls have a bargain in their sights ;-)

Next destination would seem to me to be a retest of the lower line from the broadening wedge pattern at about .27, but I think there will be enough bull pressure to quickly crack the resistance this time.

Note

You must always view the opposite side of your trade in my opinion,
The target for a breakout of a broadening wedge is the entry point,m as I said
previously, so it's possible we could also be witnessing a big assed bear flag playing out right here!

Note

Looks like XRP may want to go down again to test the long term trendline.
If this is broken... well, I don't want to think about that!

I will be waiting with some large long orders at .19 anyway!

Note

According to classical TA, a falling wedge is bullish around 92%
These are weekly trendlines!
forex-central.net/chart-patterns/wedges.php

Looking at the daily chart below, there seems to be a very symmetrical pattern playing out, somehow I just can't imagine the price doesn't want to play it out, why would it stop there right? :-)

I also see a continuation of a bear flag pattern here that could possibly take us down to the .19 regions or even deeper.

Could also be that it found it's bottom but I'm still short term bearish

Either way, it seems the crypto sphere is determined to reach some significant lows before it goes north

Note

BOOM!
33% in a day, I myself have never seen anything like it before.

I managed to collect on a short but it was pitiful compared to the potentiality! really though, whoever saw that coming has a crystal ball or some good friends in high places!

Slippery09

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