JamesSE
Singkat

Head and Shoulders to $0.77??

BITSTAMP:XRPUSD   Ripple / Dollar
On the 1H chart, Xrp looks like it is developing a Head and Shoulders pattern. With the CCI looking Bearish but still hovering around the 100 mark and not dropped dramatically to 200 as of yet, a big swing down could be coming. However, if good news from CNBC's 'Fast Money' has good things to say about Ripple and Xrp, it could consolidate sideways about $0.90 and maybe rise in the near future.

However, the Head and Shoulders and pattern, if confirms below the neckline, could fall to $0.77 which happens to be the next support line from the 8th February. This is also the distance between the middle of the neckline to the head of the pattern. Confirmation is key.

It needs to have a close eye on it because the media could influence this either way.

This is my opinion. I am not a financial adviser. This is for analysis and educational purposes only. What you do do with this information is up to you.
Komen: It looks like the Head and Shoulders pattern didn't confirm. Xrp did manage to reach $0.785 before shooting back up again. I do agree this is looking like a descending wedge and could level off about $0.82 (Fib level 0.612 on 4H chart). With the dust settling, it may break out of the descending wedge pattern. If this happens, it could be seen to hit at least $1.00 again.

Just an update on what I see.
Pretty spot on at the moment ;)
Balas
Check for volume conformation of h + s ...doesn't look that perfect imo
Balas
Bullish descending wedge seems more prominent.
Balas
JamesSE Ammoluv
@Ammoluv, Yes I can see that now. Didn’t notice it before. Thanks
Balas
IMHO resistance is way too strong at .89, and H&S patterns conclude at the same price they started- this would rule out .77
Balas
tradeformula tradeformula
correction- *support*
Balas
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Pengimbas Saham Pengimbas Forex Pengimbas Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar