The smaller coins rarely ignore a trend line extension. This is where most of the major spikes come from in the AltCoin/BTC or AltCoin/ETH charts - the spikes generally align with a trend line extension from a previous rally.
Ripple is in a small squeeze right now. At a glance, it looks like a descending triangle, or perhaps a downward pointing symmetric triangle.
The top of this triangle is the extended trend line, and this line has proven to be reactive at several points prior to this consolidation.
I marked this trend line in green, instead of all the rest which are MPC-tribute pink trend lines.
I have to say that just at a glance, the XRP priceline is looking a whole lot like some of its AltCoin counterparts, and the bulk of the time that I've seen these other AltCoins come to a crossing with an extended trend line, they tend to break out bullish.
That, and there is some heavy bullish divergence on the indicators...
Cheers!
-B
*This is not advice to trade. You don't want my advice. The last person I advised wound up in emergency surgery. Do you want to be in emergency surgery? No, I didn't think so. So don't take my advice.
Ripple is in a small squeeze right now. At a glance, it looks like a descending triangle, or perhaps a downward pointing symmetric triangle.
The top of this triangle is the extended trend line, and this line has proven to be reactive at several points prior to this consolidation.
I marked this trend line in green, instead of all the rest which are MPC-tribute pink trend lines.
I have to say that just at a glance, the XRP priceline is looking a whole lot like some of its AltCoin counterparts, and the bulk of the time that I've seen these other AltCoins come to a crossing with an extended trend line, they tend to break out bullish.
That, and there is some heavy bullish divergence on the indicators...
Cheers!
-B
*This is not advice to trade. You don't want my advice. The last person I advised wound up in emergency surgery. Do you want to be in emergency surgery? No, I didn't think so. So don't take my advice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.