XRPUSD: $.30 move on horizon but in which direction?

6 déc. 2020

Looks like a symmetric triangle is completing. Will price breakout up or down?

The recent bounce down off of the orange point of control line is bearish.

The bounce up off of the moving average is bullish.

Value looks neutral.

Accumulation/Distribution looks slightly bullish.

Rate of Change looks slightly bullish-to-neutral.

What do you think? $.30 up or down?

6 déc. 2020

Note

What the hourly looks like. Looks like price is going to ride the MA right out and above that triangle. And, the RoC is looking bullish as well.

6 déc. 2020

Note

Overlaid a possible EW count on Daily that targets a high of about $1.90 in mid Jan.

And here is what the 15min of base chart currently looks like.

6 déc. 2020

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Charts in previous update might be difficult to read because, generally, I use mobile. To clarify the daily chart, it indicates XRP might be entering subwave 5 of Wave 3 that targets about $1.3.

7 déc. 2020

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For sake of accuracy, this might be the actual triangle that has finished. B above A, down trending volume, volume breaks above VMA at each touch, each of the ABCDE legs has an abc structure.

9 déc. 2020

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See the idea linked to this one (link should be down below) for a recent update on a possible price drop before the Spark rally.

10 déc. 2020

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Here we go, this looks legit. Volume spike on breakout.