Possible Inverse Head & Shoulders Pattern on Ripple

6 mar 2020

XRPUSD

As you can see on the char, there is a possible Inverse Head & Shoulders Pattern, freeonlinetradingeducation.com/inverted-head-and-shoulders.html , in the making, on the XRP-USD pair. And it is coming just about 66 days before the Bitcoin Halving, bitcoinblockhalf.com/

A similar pattern is also forming on the Bitcoin-USD pair:



If confirmed, with a break above $0.35 USD, the minimum target will be about $0.51 USD, but it could climb a lot higher.

Overall, it seems like it bottom on Mid-December 2019, along with Ethereum, Bitcoin, EOS, Steem and many other coins. It had a strong impulse move from about $17.50 USD to near $0.35 USD, and a steep 70% correction of the previous rise after that. And now I’m looking for the continuation of the up move.

Not a recommendation, just my way of seen things.

Good Luck to You

7 mar 2020

Commento

I also want to point out that the left shoulder is lower than the right shoulder, so it is possible for XRP to go down in the next couple of days or weeks, specially if Bitcoin goes down. And the 70% correction mention above could easily end up being an 80% correction or so. Anyways that will not invalidate the pattern.

Good Luck to You