Hello traders today we're going to be looking at XRP lets see the chart
I want to credit botje since he was the first to call "bigger inverse head and shoulders"
Which to me is realistic.
I do have my doubts, though.
Scenerio number 1 crypto currencies will go up from the current head and shoulders bottom and break the trend.. our current head and shoulders is too small compared to the giant beast we had a year ago.
Therefore the bulls will have a struggle and we would have to see the next chart pattern.
Scenerio number 2
Crypto currencies would go up and form a head and shoulders bottom on the daily chart.. such a thing is a giant move and we would see (if it acts accordingly, with a proper break out) a year of prosperity and a big uptrend.. or as we say: the grass is green, the bulls are coming, bears bewhere hunters are here
Scenerio number 3 we go up due to the HS bottom on the 4 hours chart, but we fall then.. then the bears would have their steak.
Scenerio number 4
We continue to go up we form what would look like a second shoulder and then we fail miserably, a failed head and shoulders bottom pattern is a bearish sign and we could dive into oblivion.
My opinion?
I call market bottom, the head and shoulders bottom is a sign.
A whale once told me: "we're the first to buy and the first to sell.. then, the majority of people acts accordingly"
Good luck traders
I want to credit botje since he was the first to call "bigger inverse head and shoulders"
Which to me is realistic.
I do have my doubts, though.
Scenerio number 1 crypto currencies will go up from the current head and shoulders bottom and break the trend.. our current head and shoulders is too small compared to the giant beast we had a year ago.
Therefore the bulls will have a struggle and we would have to see the next chart pattern.
Scenerio number 2
Crypto currencies would go up and form a head and shoulders bottom on the daily chart.. such a thing is a giant move and we would see (if it acts accordingly, with a proper break out) a year of prosperity and a big uptrend.. or as we say: the grass is green, the bulls are coming, bears bewhere hunters are here
Scenerio number 3 we go up due to the HS bottom on the 4 hours chart, but we fall then.. then the bears would have their steak.
Scenerio number 4
We continue to go up we form what would look like a second shoulder and then we fail miserably, a failed head and shoulders bottom pattern is a bearish sign and we could dive into oblivion.
My opinion?
I call market bottom, the head and shoulders bottom is a sign.
A whale once told me: "we're the first to buy and the first to sell.. then, the majority of people acts accordingly"
Good luck traders