First of all, this is not advice! Just my point of view on the XRP chart right now.
XRP is bullish as I have talked about on almost every TF (look at my other idea's down bellow).
Right now XRP looks like it has completed a clear inverse H&S on the 1h chart! Right now we could be retesting the neckline.
Combined with all of the other bullish factors, would I favor a bullish position to squeeze the shorts.
When you measure the head of the inverse H&S, we should have a target price of .363. This level also correlates with the top to the last high in this consolidation fase.
PS: Keep in mind we can still wick to the orange trend line at any time.
Good luck!
XRP is bullish as I have talked about on almost every TF (look at my other idea's down bellow).
Right now XRP looks like it has completed a clear inverse H&S on the 1h chart! Right now we could be retesting the neckline.
Combined with all of the other bullish factors, would I favor a bullish position to squeeze the shorts.
When you measure the head of the inverse H&S, we should have a target price of .363. This level also correlates with the top to the last high in this consolidation fase.
PS: Keep in mind we can still wick to the orange trend line at any time.
Good luck!
Nota
Bulls tried to breake the neckline of the possible inverse h&s, the bears defended this region well with a fair amount of sell volume.Right now we are consolidating bellow the neckline.
We still may see a touche of that orange trend line to make bears fomo sell. After that touche and solid bounce, I would be even more confidence on my projections of +.36 USD cents.
Nota
We actually have a neutral triangle right now on the 15m chart.I wouldn't trade this, but I think we will see a pull back to that orange trend line.
That would be a +-3,5 procent drop.
Nota
Well that trend line is playing out so far in the favor of the BULLS!The H&S pattern looks to be failing so far with not a explosive break out. I still have my eyes at .35 USD (take a look bellow)
Good luck!
Nota
(this is pure speculation)We COULD be forming a inverse H&S on a much bigger time frame 4H (who knows?).
Just a thing to keep in mind...
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