In my previous analysis, we quite easily identified that symmetrical triangle XRP successfully broke out of. Moreover XRP subsequently reached both TP´s outlined in the previous post. Now with the whole crypto market seemingly a bit overheated, its not illogical to expect a consolidation period within a bull flag (blue lines) obviously just an approximation not a valid bull flag as such. The other option is a huge dump under the symmetrical triangle, which would make this rise a bull trap, after 2 years Ive seen more than enough of these, in XRP especially. I would trade with caution especially when markets are this hyped.
*Personal opinions, do no trade on tradingview posts, make your own analysis.*
*Personal opinions, do no trade on tradingview posts, make your own analysis.*
Note
Its obviously early to tell, but it looks like its following the green luneNote
Today well likely see if well drop or make a consolidation in the form of a bull flag/pennant.
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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.