Hello traders,
This is how I view the state of XRP. There are three structural elements that are pointing in the same direction.
1) We have been in a multi-year symmetric triangle that has now completed and is ready to breakout.
critical resistance: $0.62, and a conservative measured move from the triangle break gives a price target of $11.44
2) The fib retracement of the entire bull market (taken from candle close) puts the next resistance level at just under $0.80 (the 0.236), and the full fib extension of the same retracement takes us to a price target of $11.25.
3a) there is a multi-year resistance that ended each minor rally during that interval at just over $0.80
3b) if we put the whole market in a parallel channel, the upper target points to ~$17.00.
So we have a series of resistance breaks and a series of targets that are all lining up. I am holding and waiting to see breakouts occur, then I think it is a quick ride to the upper targets.
not financial advice, DYOR and good luck to everyone.
not financial advice DYOR,
This is how I view the state of XRP. There are three structural elements that are pointing in the same direction.
1) We have been in a multi-year symmetric triangle that has now completed and is ready to breakout.
critical resistance: $0.62, and a conservative measured move from the triangle break gives a price target of $11.44
2) The fib retracement of the entire bull market (taken from candle close) puts the next resistance level at just under $0.80 (the 0.236), and the full fib extension of the same retracement takes us to a price target of $11.25.
3a) there is a multi-year resistance that ended each minor rally during that interval at just over $0.80
3b) if we put the whole market in a parallel channel, the upper target points to ~$17.00.
So we have a series of resistance breaks and a series of targets that are all lining up. I am holding and waiting to see breakouts occur, then I think it is a quick ride to the upper targets.
not financial advice, DYOR and good luck to everyone.
not financial advice DYOR,
İşlem aktif
A couple of months later, XRP has seen a strong breakout and is back battling through all of the resistance confluences. I am watching this one closely to see if these turn into a base of support for a final push toward my upper targets.Not
here is a zoom in on the dailyNot
Not
we now have a double-tap back test, If I see a higher high, my optimism will intensify.Not
wicked above, but didn't close above prior local high, there are some clustered resistances here including the local high, prior support, and the.236 fib retracement of the entire bear market from 2018.Not
new higher high, optimism intensifies. Not
break through, I am looking for this to hold as support. All targets still in place. Chart is healthyNot
Chart is still very healthy, nice consolidation around some fibs whilst it is building a zone of support I am looking for a break up to the next major cluster of resistances in grey.
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.
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.