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reycripto
Jun 12, 2018 4:14 AM

XRPUSD could be scraping bottom: June 11 2018 Long

XRP / DollarBitfinex

Description

It seems a fourth weekly candle is forming to signify a solid bottom highlighted in the blue rectangle. One more day for the weekly close.

My take on XRPUSD right now is that a wave 3 will likely begin if this weekly candle closes above its current price point, signifying a strong bottom for the past 4 weeks.

Volume is low however so I would not trade this area but a break above 64 cents. I am still long on XRP in the short, medium and long term.

Comment

Totally rekt! lol
Comments
tradeformula
IMO, we're in a very very large pennant pattern



Similar to those that have broken out in the past and resulted in 14x growth in a month
reycripto
@tradeformula, Interesting! :D
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