Hello All!
XRP has broken below this falling triangle and has followed a consolidation. We should expect a move to the downside to complete the larger pattern target. The immediate and intermediate zones are marked by circles with the potential support and reversal area marked with the triangle. It would be ideal to watch for negative momentum to slow down and shift to positive on the MACD with volume rising on the rebound off a drop. The 1H is attempting to show green on the MACD in this symmetrical triangle which is inherently neutral. We could see this current consolidation on the shorter time scale break up back into the larger triangle for further sideways movement before the larger break.
This is only my opinion! Let me know yours!
XRP has broken below this falling triangle and has followed a consolidation. We should expect a move to the downside to complete the larger pattern target. The immediate and intermediate zones are marked by circles with the potential support and reversal area marked with the triangle. It would be ideal to watch for negative momentum to slow down and shift to positive on the MACD with volume rising on the rebound off a drop. The 1H is attempting to show green on the MACD in this symmetrical triangle which is inherently neutral. We could see this current consolidation on the shorter time scale break up back into the larger triangle for further sideways movement before the larger break.
This is only my opinion! Let me know yours!
Note
Note
could this be the reversal?
Note
we got the bounce of the divergence!
This is a possible turning point. MACD is still green and not slowing down yet on the 1H chart. Will we get up to back test the larger falling triangle?
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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.