XRP has been following the symmetrical wedge that we have drawn in our last published idea so closely. To make the chart even more interesting, we are now seeing a hidden bullish divergence on the MACD indicator in the 4H chart.
The last time we saw a hidden bullish divergence here was at the start of the month, where soon after the formation, we saw XRP blasting...
XRP is currently stuck between many key structural levels - 0.5 fibonacci level and 2 symmetrical wedges. It is now a gigantic pressure cooker and springboard waiting to be launched off in a major breakout. I believe we could see some huge price action towards either side by the end of the week if we were to continue following this technical structure. Not...
During this year's BTC rally, wedges has been an excellent indicator for the direction that it will be heading. In all of the wedges I have highlighted, we see BTC running about two-thirds the wedge's length before breaking out. Rising wedge is followed by a bearish breakout, while falling wedge is followed by a bullish breakout.
I expect this pattern to continue...
LTC has started to form a head & shoulder pattern on all the hourly chart. Furthermore, the neckline of this head & shoulder is sloped downwards, which indicates that this has a higher chance to be reliable.
We need to watch out for a break below the neckline. If it breaks it successfully, I'm expecting ~15% downside from the price level. Not financial advice. DYOR.
Data showing that inflation has hit a 3 decade high last night sent XRP and the rest of the cryptocurrency market flying to a new intra-day high. However, all of a sudden we saw it plummeting back down to form a new intra-day low and closing in the reds.
But if you zoom out, you will realise that we are fine. We closed on the upper trendline of the symmetrical...
