DrDovetail
Long

XRPUSD appears to be at apex of descending triangle pattern

BITFINEX:XRPUSD   XRP / U.S. Dollar
based on the resistance confirmation price action has been getting on xrp recently I'm confident the real top trendline of the descending triangle pattern xrp is currently in is likely the one we are finding resistance at now...if that is the case we will likely break above it and out of the pattern sometime this week or next and the breakout target is $1.30. I have left the other potential top trendlines on the chart with their respective breakout targets as well just in case it is not the official top trendline of the triangle. If we are to break out of the triangle here and move to 1.30 that will undoubtedly trigger the long awaited 1 day golden cross as well which will likely lead to even more upside. If it follows ltcs lead exactly we could then see xrp raise 118 percent from that golden cross before a correction. of course moving from .33 to 1.30 will already be a gain of over 400% though which would be absolutely massive if it were to occur.
#XRPUSD (3D TF)

+2 Reply
descending triangles are bearish patterns. Occasionally they break up, but generally, they break down
Reply
DrDovetail crow1980
@crow1980, this is true but I anticipate a break up...they break up far more often than you'd think they would
+1 Reply
crow1980 DrDovetail
@DrDovetail, well done - XRP does like to do this same exact pattern. I caught the spike last time too ;/

+1 Reply
DrDovetail crow1980
@crow1980, cheers!
Reply
@crow1980, and as of 6:30 PST time it has broken out to .36 with sights on .46 next and 1.30 thereafter.
+1 Reply
ThumbSkin crow1980
@crow1980, Remember this as the one that broke up
+3 Reply
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