SI1! Daily - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines, Cluster, Confluence, Rectangles, Pitchfork, Modified Schiff Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment...
I am using the Modified Schiff Pitchfork to show the longer-term possibility of the XRP price. We are counting on a cycle top end of 2022/2023 and another in 2028. Taking the 68k % increase back in late 2013 or early 2014 if we apply another similar % increase for the next cycle top we could see between $400 for 2022 and $1250 for 2028 (if 2028 is the next cycle...
This is a thread looking to tell the story of Bitcoin's swings with Modified Schiff Pitchforks (aka 'Hard Forks' because they are tricky to understand and explain for TA beginners). This is a bit of fun, but there is some serious TA in there as well. These tools are legit and I recommend spending some time learning geometry techniques like these, or not......
We are sitting above a strong support line, expect price to reach the upper parallel of the gray pitchfork, once broken and closed above ---> price will reach the 0.95 ish area before it starts retracing (or going further up). Please check the chart for the target/ stop loss.