XRP Will Beat $1- 1.5 by 1st quarter 2021(But Haters are Ready!)
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Price action Vs the News, here I must say that Price action speaks volume than the news can catch up, XRP is not just planning a super flight but the plan is to make sure so many miss this particular flight to the Moon.
But come on Makaveli, how About the SEC news and the selloff huh?
Before I answer that let's look at the charts and see why the SEC News could only fuel the next bullish price move the more.
Weekly Chart Pattern Discovered : Inverse Head & Shoulders
This is probably one of the most reliable Trend reversal Pattern Indicators among major reversal patterns.
This particular pattern is associated with a reversal of a downward trend in price. It is one of the more common reversal indications, It is similar to the standard Head and Shoulders pattern, except that it is inverted.
This is a Bullish Pattern, and this pattern must contains three successive lows with the middle low (“Head”) being the deepest and the two outside lows(“shoulders”) being shallower, it is not compulsory but is good to see the two shoulders be of equal height and width( sometimes they are not).
Contrary to the head and shoulders pattern, the inverse head and shoulders pattern occurs after an extended move down.(obviously XRP has been on that down move for long time).
But Just like in the straight Head and Shoulders pattern, the strength of this reversal, measured as the rising amount after the breakout, is proportional to the decline before the pattern appeared.
Daily Chart Pattern Discovered : (Inverse Head and Shoulder Inside a Triangle)
What is a Symmetrical Triangle Pattern?
A bullish symmetrical triangle is a bullish continuation chart pattern. The pattern is formed by two converging trend lines that are symmetrical in relation to the horizontal line.
How do you identify this pattern?
The first line is a bearish trend line creating the resistance also known as downtrend line where the bears(sellers) are packed in numbers ready to shot down anything that moves , this is also called the "resistance line of the bullish symmetrical triangle".
The second line is a bullish trend line creating the support, here the Bulls(buyers) gather in numbers to acquire the muscles(buy pressure / accumulation zone) needed to battle the bears(sellers) at the upper trendline. this support line is also called the "support line of the bullish symmetrical triangle".
For our Daily chart Symmetrical triangle to be called bullish, the movement preceding the triangle’s formation must be bullish.
let's see if XRP case meets this demand below:
To confirm this pattern observed , The accumulation zone(Buyers zone on the lower trendline of the Symmetrical triangle has printed and inverse H & S inside the Triangle bottom trendline very Visible on the 4hrs Chart Below
From all this, I can simply confirm this Bullish plan on XRP will be massive and so many will most likely miss it as a result of the current fluctuation going on in the whole crypto market combined with the SEC News.
But this will only prove that XRP is a sleeping giant and Holders are about to smile by this sleeping Beauty ones she awakes.
Thanks for Reading.
Price action Vs the News, here I must say that Price action speaks volume than the news can catch up, XRP is not just planning a super flight but the plan is to make sure so many miss this particular flight to the Moon.
But come on Makaveli, how About the SEC news and the selloff huh?
Before I answer that let's look at the charts and see why the SEC News could only fuel the next bullish price move the more.
Weekly Chart Pattern Discovered : Inverse Head & Shoulders
This is probably one of the most reliable Trend reversal Pattern Indicators among major reversal patterns.
This particular pattern is associated with a reversal of a downward trend in price. It is one of the more common reversal indications, It is similar to the standard Head and Shoulders pattern, except that it is inverted.
This is a Bullish Pattern, and this pattern must contains three successive lows with the middle low (“Head”) being the deepest and the two outside lows(“shoulders”) being shallower, it is not compulsory but is good to see the two shoulders be of equal height and width( sometimes they are not).
Contrary to the head and shoulders pattern, the inverse head and shoulders pattern occurs after an extended move down.(obviously XRP has been on that down move for long time).
But Just like in the straight Head and Shoulders pattern, the strength of this reversal, measured as the rising amount after the breakout, is proportional to the decline before the pattern appeared.
Daily Chart Pattern Discovered : (Inverse Head and Shoulder Inside a Triangle)
What is a Symmetrical Triangle Pattern?
A bullish symmetrical triangle is a bullish continuation chart pattern. The pattern is formed by two converging trend lines that are symmetrical in relation to the horizontal line.
How do you identify this pattern?
The first line is a bearish trend line creating the resistance also known as downtrend line where the bears(sellers) are packed in numbers ready to shot down anything that moves , this is also called the "resistance line of the bullish symmetrical triangle".
The second line is a bullish trend line creating the support, here the Bulls(buyers) gather in numbers to acquire the muscles(buy pressure / accumulation zone) needed to battle the bears(sellers) at the upper trendline. this support line is also called the "support line of the bullish symmetrical triangle".
For our Daily chart Symmetrical triangle to be called bullish, the movement preceding the triangle’s formation must be bullish.
let's see if XRP case meets this demand below:
But this will only prove that XRP is a sleeping giant and Holders are about to smile by this sleeping Beauty ones she awakes.
Thanks for Reading.
