XRPMXN - Bullish flag
I think it's a textbook bullish flag, with an ascending volume on the "pole" and descending on the "flag". Also, measured from the pole, the strong bullish trend didn't retrace more than 50%, which is healthy.
Flags are formed because of the consolidation of a very steep trend. I think this correction is healthy, because the price action is testing supports and resistances that we didn't see in the "pole".
The price target is a 50% movement from the breaking of the flag's resistance. I would like to see a strong volume in this breakout, though.
Flags are formed because of the consolidation of a very steep trend. I think this correction is healthy, because the price action is testing supports and resistances that we didn't see in the "pole".
The price target is a 50% movement from the breaking of the flag's resistance. I would like to see a strong volume in this breakout, though.
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