LEFT Chart 1hr: We can see that XRP has been consolidating within a triangle that I interpret as a bullish pennant. Upwards price action is supported by multiple EMA´s and ichmoku cloud support.
RIGHT Chart 4hr: The support of the ichmoku cloud becomes even more apparent here. While this looks like a bullish pennant and a break to the upside is more likely. I have also plotted a different scenario, a drop towards 50 cents, which in my eyes wouldn't represent a trend turn but a development of a larger bull flag. This is viable because the top trendline is already apparent with the pennant formation were seeing at the moment.
Verdict: Risky to trade off this since it could develop into a bull flag, that would see us visit lower prices before an upwards surge.
RIGHT Chart 4hr: The support of the ichmoku cloud becomes even more apparent here. While this looks like a bullish pennant and a break to the upside is more likely. I have also plotted a different scenario, a drop towards 50 cents, which in my eyes wouldn't represent a trend turn but a development of a larger bull flag. This is viable because the top trendline is already apparent with the pennant formation were seeing at the moment.
Verdict: Risky to trade off this since it could develop into a bull flag, that would see us visit lower prices before an upwards surge.
Not
Upwards breakout with very little volume, perhaps it's a false breakout. Will see how it develops.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.