carltonzone
Long

XRP Decision Point at End of July 2019?

BITFINEX:XRPUSD   XRP / U.S. Dollar
Let me say right up front, this could be complete garbage and not work out this way. But it's my best guess from what I see. My goal is to try to find the next decision point where a major move can occur. After doodling for a bit on the chart, it seems to me that it could be near the end of July, IF trading stays within the apparent flag formation .

Throwing on a fib circle from the most recent low point of 0.25 and connecting it to the recent high of 0.48, it's really interesting that the apex of my triangle idea falls directly on the 0.618 line. Coincidence? Perhaps. But with the wild action of the market lately, it could possibly work out this way.

I have been burned in the past, where the apex of the symmetrical triangle (or flag) formation happens to turn out to be a capitulation move. But I am betting on a breakout to the positive at this time. We'll see how it goes!

Your thoughts are appreciated!
So far, so good. We are still loosely within the triangle. It is working towards the apex/fib circle crossing. If this move happens while BTC is surging, expect the breakout to happen and the move to the next level.
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