I've added text to explain various parts of the chart. If there's any questions feel free to add them in the comments.
Having a look at the more recent XRP chart pattern (2017 onwards) rather than from 2014, I've noticed that XRP/BTC is in a very large descending wedge ready for breakout!
^ Without logarithmic turned on
Within that macro descending wedge, there appears to be 2 major descending wedges.. The first wedge lead to a breakout of over 100% (to be halted by the macro wedge), And the 2nd wedge has just broken late March & primed to attempt a macro breakout!
노트
What's that famous saying? "Be fearful when others are greedy, and greedy when others are fearful"
This is applicable to the current situation with XRP...
Buy the fear..
Sell the greed..
I've had a closer look at the weekly chart against BTC for XRP & noticed some more bullish signs:
- VMC's market cipher B shows a triple bullish divergence on WT (on the weekly scale)
- VMC showing bullish divergence on stochastic RSI as well
- MacD bullish crossover just occurred
- Buy signals flashing on VMC B
- Appears bottomed out (Confirmed via other charting methods e.g renko/P&F/Line-break)
Now, with the declining price, increasing volume and strong bullish divergences in a very strong support area for the XRP/BTC pair, this could break out at any moment...
Buy the fear..
노트
The ascending triangle on Point & Figure broke out!면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.