DrDovetail

Possible capitulation candle on xrpusd 4hr chart?

BITFINEX:XRPUSD   XRP / U.S. Dollar
Im not saying this is definitely the capitulation candle here but it feels like the ground floor at the moment and we are finally seeing the chance of some bullish patterns picking up some momentum we can see we had a successful inverse bart up from the bear flag and are now forming a smaller but fairly sturdy bullflag that broken up from can take price to 30+ cents. Also if we happen to see resistance and an iniital rejection when priceaction tests the descending purple trendline then we will have an inverse h&s potentially in play that would likely have an even higher price target than the bullflag were it to actually trigger. If we were to see all of these bullish scenarios play out then this very well could be capitulation but for now we wait to see how things unfold awaiting further confirmation.

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