Hey guys,
while Bitcoin is showing some lifesigns, Ripple is bobing at the 30 cents border. To be honest, this chart gives more probability for going down than going up. We are developing a huge descending triangle. This pattern is known as a correction pattern, leading to more downside movement. Only if we break the last high market with a green arrow and breaking the descending trendline of the triangle, this pattern will be invalidated. Downsidetarget as marked in the picture. Time horizon for reaching these targets is 3 months. While reaching these targets, would be a very good entry point for a long term investment.
while Bitcoin is showing some lifesigns, Ripple is bobing at the 30 cents border. To be honest, this chart gives more probability for going down than going up. We are developing a huge descending triangle. This pattern is known as a correction pattern, leading to more downside movement. Only if we break the last high market with a green arrow and breaking the descending trendline of the triangle, this pattern will be invalidated. Downsidetarget as marked in the picture. Time horizon for reaching these targets is 3 months. While reaching these targets, would be a very good entry point for a long term investment.