dgannon50707
Long

Ripple, XRPBTC breakthrough of falling wedge

BITTREX:XRPBTC   Ripple / Bitcoin
Ripple looks to have found its resistance at 6877 and is performing a falling wedge pattern.

If it breaks the falling wedge its the first good sign for the beginning of bullish confirmation. A further signal can be seen at 9542 where resistance is broken at the 0.382 Fibonacci retracement line.

If 9542 is broken my target will be at 13704, giving a 44% profit margin.

Note: This publication is for education only and not my advice to buy or sell. It is recommended you conduct your own analysis before placing a trade.

P.S. Please comment and provide feedback!

All the best.
Hi - new to TA. How did you go about identifying resistance at 0.00009542? Based on Fib and price action on 1/17, 2/23, 2/25 and 03/09?

Cheers for the TA
+1 Reply
Thanks interesting insights very useful
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Very useful commentary thanks for your view
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