Fundamentally, it will go if Bitcoin drives the growth.
WHAT IS TRICKY WITH THE STRUCTURES WE OBSERVE WITH SEVERAL KEY COINS, IS THAT PRICE MOVES UP ON HOURLY CHARTS WITH OVERLAPS. THIS MAY BREAK INTO TO BULLISH OPTIONS:
1) A LEADIND DIAGONAL (FOLLOWED BY A CORRECTION, WILL DELIVER A NEXT BULLISH STRONG WAVE) 2) A SET OF FIRST WAVES OF DIFFERENT SCALE, THAT WILL LEAD TO EVEN A STRONGER BREAK OUT TO THE UPSIDE.
@VincePrince thanks. I don’t think you will short from the confluence, right? Although, looks like a consolidation before downside, I agree. What is specific to this type of set up, is that it may be a LEADING diagonal, that, after correction breaks strongly to the north.
this is what I have on the XRPUSD