Just a heads-up, we might see a pivot very soon here. We are fast approaching the magical Big Green 4.236 fib circle boundary, PLUS the 4.618 Light Red boudary. The combination of the flag formation AND the apex appearing to fall directly on both of these known magical fib circle boundary lines tells me we could have a breakout. I can't give any prediction on which way. It could be 50/50. This will test our 0.25 base level though, by either confirming its power with a break to the up side, or confirming that the 0.25 support level is officially broken with a break to the down side.
There's a chance that nothing happens at all, and we just pass straight through this ring and head towards the dark blue. But I give that the least probably scenario. I'm giving this a 75% chance of breaking out. Usually, breakouts occur before the apex of the triangle formations. That's the only component of this analysis that doesn't really fall into place. But it doesn't mean that it can't break out before the fib boundary, and then make a major move directly on either of the lines.
This should provide us a mild amount of entertainment during this season of BTC sucking a big fat sour lemon. I am impressed that XRP is not in lock-step with BTC though, finally. We are watching it earn its independence!
Not trading advice, entertainment purposes only.
Carlton Flowers
the CryptoPro
There's a chance that nothing happens at all, and we just pass straight through this ring and head towards the dark blue. But I give that the least probably scenario. I'm giving this a 75% chance of breaking out. Usually, breakouts occur before the apex of the triangle formations. That's the only component of this analysis that doesn't really fall into place. But it doesn't mean that it can't break out before the fib boundary, and then make a major move directly on either of the lines.
This should provide us a mild amount of entertainment during this season of BTC sucking a big fat sour lemon. I am impressed that XRP is not in lock-step with BTC though, finally. We are watching it earn its independence!
Not trading advice, entertainment purposes only.
Carlton Flowers
the CryptoPro