botje11

XRP Ripple, making an H&S to form a big inverse H&S

BITFINEX:XRPUSD   XRP / U.S. Dollar
XRP made a big strong rally to the high of a big resistance. Because of this conviction there is a reasonable chance to form a big inverse H&S . But we would need to see a good solid correction/consolidation from the current levels. On the right we can see a channel, if that breaks we can assume the green support will get tested again. If that happens there is a chance for a small H&S . Even if that one reaches the target, it would still fit the picture of that big inverse H&S . But the right shoulder has to be smaller in size and time than the left shoulder.


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Previous analysis:

Dec 19
Comment: We broke the channel and made a decent drop. At the moment we are seeing a good bounce, sign of life. We could make a V shape here, but not likely. I would rather see the lower low version, to really test support another time.

Dec 20
Comment: Update

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Comments

Ask and now it’s here. Thank you very much!!!
+1 Reply
botje11 Hashgraph
@Hashgraph, Your welcome :)
Reply
If BTC is above $4500 do we have a trend reversal?
Reply
So are we heading down now ? To what?
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jcslim138 DennisKorol
@DennisKorol, that’s what I’m saying, cought a good sell.
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Alex_B1M DennisKorol
@DennisKorol, to 0.50
+1 Reply
thank you!
Reply
thank you a lot for your help, very good analysis.
Reply
botje11 edonymeri6
@edonymeri6, Your welcome "_
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