Previous analysis i showed a nice bullish wedge which played out perfect. Broke out, then it did hesitate a bit, but stayed above the new blue support zone i showed in the update. I see we have made another big push now. Broke the .036 resistance already and even touched the 0.4. This 0.4 is also a big resistane at the moment, which won't be an easy one to break. But if we see a stable bitcoin and seeing xrp being able to stay above the 2 greens on the right, than it might be able to form a bull flag and prepare for another push upwards. If they can pull this bull flag off, the next target should be 0.5ish.
I would write this down about the bear trap move. I have shown several past half year on a few, they have all been big lows. Basic TA tell you the opposite, see it as the failing trades. But when seeing a pattern in these failing trades, you can turn a loss into a nice win even. See it as if you are able to spot the whales with this. They don't always work out, but at least you have something to prevent a loss.
Now biggest question i have, the xrp/btc pair had made a possible low now as well. At support and a big reversal candle. But when looking back at past half year, there have been a few more of those, but they all failed again.
Previous analysis:
Comment
⋅
When zooming in a bit, we can see it keeps dropping on the low time frame. Now the idea is, we need to see another bounce again, preferably between 0.39/0.4. if that happens, the chances for a bull flag increase a lot
@JamesKBowler, I can, but then please tell me how to do it. I don't have the time nor energy to find out myself. Give an example maybe. Your not the first, but other explained things and it helped :)