It is well known that the past isn't indicative of the future but one could also argue that history does indeed repeat itself. Either way, such fractals should at least be looked at.
Here we are looking at price action that took place Dec 2018 - Feb 2019 and comparing it to what's happening right now. As you can see the similarities are quite profound.
The current structure looks very similar to the structure in early February 2019 just before BTC went on to a massive bullrun. We're just waiting for the volume spike now. Of course a Bart down invalidates this setup. Good luck!
Good day Traders!
Today I present you with this possible Wyckoff Accumulation in progress chart. It seems that XRP is currently in the Phase C or Spring/test phase. Price has been also bouncing off previous daily lows quite well in the past.
A few scenarios are possible from here onward:
- price continues moving higher from here into Phase D;
- a possible dip...
Good day traders!
As you can see BTC is printing a very similar "cup and handle" pattern from back in 2015 that resulted in the most amazing bull run in recent history.
Just like in 2015 price has bounced off 200 SMA line and broke above 100 SMA line.
If this fractal continues to play out, a pullback to 100 SMA is possible before continuing the bull run. The...