DrDovetail
Long

xrp breakout is dubious..lack of volume+overbought 1day rsi

BITFINEX:XRPBTC   XRP / Bitcoin
We see what appears like xrp breaking out of the bull penant but there are 3 main issues that could instead haing not breaking out but instead simply morphing from a bull pennant on the 1 day chart, to a standard bull flag . Issue 1: the 1 day RSI is still right at the overbought zone. Issue 2: during this supposed breakout we have no bull volume to go with it...and issue 3: the candle has stopped right at the height required to morph it into a standard bull flag . We may see yet even more consolidation to follow here. I think ultimately we will be breaking upward unless btc really tanks but I think this may not eb the breakout....of course if we see a spike in volume and the candle surpass the cup and handle neckline then maybe it will ignore the daily rsi and break out anyways.
Nice overview of the big picture. Curious to see what the volume will do.
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Great TA, Expect to reach higher levels sooon.
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