This is my first post as a novice chartist.
As you can see on my chart, we held the low again today and we seem to be forming a rounded bottom (accumulation pattern) which has repeated in the past after the crash in December. If we hold the recent low, I expect a XRP to make higher lows and eventually challenge the ATH. Would want to see impulsive 5-wave upwards and 2 waves down for a possible move in wave (5).
Alternatively, if we breakdown through the rounded bottom, then the next support is the 0.70 region as an alternate wave (4), failing which my chart breaks down.
*Disclaimer: Not financial advice to buy XRP, for educational purposes only.
As you can see on my chart, we held the low again today and we seem to be forming a rounded bottom (accumulation pattern) which has repeated in the past after the crash in December. If we hold the recent low, I expect a XRP to make higher lows and eventually challenge the ATH. Would want to see impulsive 5-wave upwards and 2 waves down for a possible move in wave (5).
Alternatively, if we breakdown through the rounded bottom, then the next support is the 0.70 region as an alternate wave (4), failing which my chart breaks down.
*Disclaimer: Not financial advice to buy XRP, for educational purposes only.
Comment:
Bulls and bears are fighting now and should resolve any minute... Watch closely.
Comment:
Looking a bit weak but the MACD on the 1h and 2h charts are showing bullish divergence.