Kind of a weird looking bull flag, but it is a descending channel after a leg up. It could have another move up if it breaks out above, but there's potential trendline resistance above from the previous uptrend. Would be the first retest, but if it breaks that opens the gates for a lot more upside.
Could work for a short too, the recent spike leaves it vulnerable for a steep correction, but I would see that as a buying opportunity. I don't trade crypto much but I'm all aboard the XRP hype train.
Could work for a short too, the recent spike leaves it vulnerable for a steep correction, but I would see that as a buying opportunity. I don't trade crypto much but I'm all aboard the XRP hype train.
Trade active
There she goes. This is a potential area of resistance. If you extend the gray trendline on the left, it is tapping it now. Also there's a previous high here just below the one I have marked. May not get all the way up to that prior high but that was a nice breakout.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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Disclaimer
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.