Dingedan

Dingedan

The current situation on the 4 hour shows a butterfly pattern. This suggests that we will recieve a lower low (compared to 0) followed by a higher high. The higher high is the new bull really in 2021. This exact situation occured at the 30 minutes. Wich resulted in the latest "rally" to the current lower high at the 4 hour chart. The targets are subjective,...

Dingedan

It has to be confirmed, but if so. Then we have a wonderfull oppertunity to break out the pennant. Will this small head and shoulders push XRP in the right direction? First small target around .60. Target after break out $1.10 (at least)

Dingedan Updated 

If this is a head and shoulder formation then we first get a bounce back to confirm this formation. Then the target is set at € 0.45.

Dingedan Updated 

Nice moment to spot this potential move. Last move toke around de 140 days. So this will take a couple of months as well.

Dingedan Updated 

The close below the pennant is almost complete. If this is the case we need to aim for a strong support level (like 20). But first let's see if it's testing 22,7.

Dingedan Updated 

It seems that the price is backtesting the Pennant. Because the sentiment is not in the advantage of the bulls i expect that the price will return into the Pennant. In this case we have a couple resistance levels before the 525.

Dingedan

Fore sure this is speculating. But that's also part of the deal. If it will stay within the channel we have a nice outlook.

Dingedan

After the fake out, the scenario suddenly looks the same as in February and March. Small support lines do not seem to have a grip. And the price is totally separate from the 200, 50, 20, 10 MA. The death cross seems like a matter of time. The question is at what pace will this happen. And when can the price find support to drop even further. (Or am I pessimistic ..?)