Ripple back to $1.08 / Wave/triangle pattern /bull channel
Hey guys ,
first let me introduce myself. I am Daniel 26 from switzerland and i am doing technical analysis on crypto currencies. I only focus on the technical side and not on news or anything else. I have also a discord group wich you can fine on my profile. I also try to do this analysis as simple that everyone can understand , even peoples who dont know about trading and technical analysis .
So now about the Ripple
As you can see we are on a bull trend. I use MA wave from 5-100 and 200-350 for confirmation turns. In our chart you can also see that we have a bull trend channel and a triangle pattern wich is formed. we also have only one resistance level wich is above $1.05
I think the triangle we have formed will breakout soon. Infact we are on a bull wave and also in a bull channel compared to the fact that we dont have any resistance level close around us i highly think that we will have a breakout on the upper triangle line. After the breakout i guess we will bounce around our trend channel till we hit the $1.08 level. So we will probably see some higher high and higher lows in the channel.
So i expect a raise from now up to $1.08
in the charts below i will get more in the detail how this came togather
first let me introduce myself. I am Daniel 26 from switzerland and i am doing technical analysis on crypto currencies. I only focus on the technical side and not on news or anything else. I have also a discord group wich you can fine on my profile. I also try to do this analysis as simple that everyone can understand , even peoples who dont know about trading and technical analysis .
So now about the Ripple
As you can see we are on a bull trend. I use MA wave from 5-100 and 200-350 for confirmation turns. In our chart you can also see that we have a bull trend channel and a triangle pattern wich is formed. we also have only one resistance level wich is above $1.05
I think the triangle we have formed will breakout soon. Infact we are on a bull wave and also in a bull channel compared to the fact that we dont have any resistance level close around us i highly think that we will have a breakout on the upper triangle line. After the breakout i guess we will bounce around our trend channel till we hit the $1.08 level. So we will probably see some higher high and higher lows in the channel.
So i expect a raise from now up to $1.08
in the charts below i will get more in the detail how this came togather
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Here you can see when we started the trend turn. We have a small change incoming around April 4-5. wich is pretty intresting because on ETH we see the exact same change on these days. On the second circle you can see the confirmation when the MA 200-350 turn aswell wich is around April 13.
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On this closer look you can see our triangle pattern wich is formed and drawd by the black doted line
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this is the actuall way i think we can predict ripple to go
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Little Update ,
As you can see we moved out of our Channel and triangle pattern, so far it looks like a fakeout and i think we will head back inside the pattern. On other cryptos like btc we can see the same move. So i guess its just a little correction btc is moving back up aswell
As you can see we moved out of our Channel and triangle pattern, so far it looks like a fakeout and i think we will head back inside the pattern. On other cryptos like btc we can see the same move. So i guess its just a little correction btc is moving back up aswell
