XRPBTC Inverted Bump and Run Reversal

7 Feb 2021

XRP against BTC seems to have formed an inverted bump and run pattern that could lead to a 3x gain against BTC.
The lead-in phase around 31 degrees, with the bump phase at 47 degrees with a run target around 3K - 3.7K Sats.

9 Feb 2021

Nota

Trading along the trend line so far with strong support at 825 sats on the VPVR, if we get that low. If the trend line breaks to the upside, first resistance will be at around 1,483 via the Ichimoku conversion line (Kenkan sen) -- a pull back here to retest the trend line would be welcome before moving higher.

Beyond that, we may see some resistance at 1,700 sats (100 SMA) before breaking up into the cloud. Once we are in the cloud, we are likely to hit the upper limit at 2,442 sats with another pull back or consolidation.

Past the cloud, our first target at 3,000 sats awaits.

11 Feb 2021

Nota

We have broken the trend line and immediately wicked back to retest it as support. Once volume comes in, there should be no reason to come back to the trend line going forward. Resistance targets remain the same, just looking for healthy pull backs along the way now.

Looking for a slow, steady and sustainable rise through our targets.

16 Feb 2021

Nota

It would seem the initial trend line test was not valid and we are only now going back to test the trend line, likely 821 sats. If this level breaks, the Bump and Run Reversal will be invalidated and we will look to our next idea.

19 Feb 2021

Nota

XRP-BTC has entered a consolidation range between 970 - 1360 sats. This is most unusual for a Bump and Run pattern as there was no definitive "breakout". This pattern has been invalidated as a result. Resistance targets to the upside still remain the same, but if they are hit, it will no longer be because of this pattern and we must look to the next idea.