has been forming a very structured ascending triangle
for the past 4 months on the 1 week chart. This is a very bullish pattern
that just happens to be the opposite pattern that pushed us down to 3.1k, a descending triangle
is now testing the 4k resistance area
for the fourth time in four months. It seems BTCUSD
has 1 week before breakout of this pattern.
has been forming a falling wedge
pattern for the past 4 months. This pattern has a high success rate. This also looks to be within 1 week of breakout.
XRPUSD has been forming a symmetrical triangle for the past SEVEN months! This pattern can typically break to the upside or downside. In the case of XRP I believe it will be a break to the upside. There has been bullish
news daily about Ripple for the past months! The price has not reacted yet! Ripple has said it has begun promoting their xRapid solution which utilizes XRP coin, over their xCurrent solution which doesn't use XRP. When the partnered institutions really start using xRapid, they will need lots amount of liquidity. It wouldn't make sense for XRP to break down to the 20 cent range. The liquidity would be much less and it would not look good to all the institutions who are ready to start utilizing this blockchain software.
What I also find interesting is that Monero and Dash broke out today which is their first largely bullish
move in the last few months. These coins are OG's and the closest to the top 3 coins. It would make sense that the top 3 coins begin their bullish
Please share constructive comments below.