Support holding. Triangle emerging?

XRPUSD has kept the 0.2500 1D support intact ( STOCH = 54.926, STOCHRSI = 76.422, Highs/Lows = 0.000 ) and continued with sideways consolidation that is about to break the 1W Channel Down ( MACD = -0.107, Highs/Lows = -0.0828, B/BP = -0.2150) to the upside. This may create a Triangle on 1D that has the potential to keep the price ranged for the next month. However the Lower High Resisting line (bold black) will continue exerting selling pressure and shorting should be the optimal long term trading choice. We remain short on Ripple: TP = 0.24321 (December 12, 2017 low) and TP = 0.19914 (December 08, 2017 low).
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xrp is not btc, up until btc go touch the down trend line, xrp should go down as well. end of october.. we will see.
I have to say that I really respect your TA, remarkably good the majority of the time, but I disagree that we'll see any lower than the previous low ever again with XRP. We've just exited a strong descending wedge, and I think the bulls are here for a bit.
+2 Reply
InvestingScope tradeformula
@tradeformula, You may be right. We are working on a new chart at the moment. Thank you for your remarks.
+3 Reply
tradeformula InvestingScope
@InvestingScope, Holy shit, I didn't think we'd see this sort of action so soon! I think the market was ready to go
Eurocrem tradeformula
@tradeformula, agree, that triangle can even look like a falling wedge if you take the start of the trendline from 1.375 rather than the ATH. Broke out really nicely.
+1 Reply
new low high is formed?
What is the chance of xrp falling below 0.243
@Adamnry, Increasingly slim
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