XRP/BTC Ascending Triangle Beginning C Leg Upward after Retrace
As Projected Earlier, the Ascending Triangle is moving on up nicely. If you have a position open already, the price movement is fairly quick these past few days.
I recommend scaling into your position and avoiding all-in God Mode Choices until the Ascending Triangle completes and we are given the "GO" to make a Runaway Pattern to 4-4.5k range.
Expect some more large spikes as the Channel Upward is Closing quickly. A Flag is expected to form before a true break-out begins, so be on the watch for the flag formation.
Things to Note: Volume at 12pm May 1st, - Large Spike for the drop and the volume is starting to pick up. the Projection sideways accounts for building volume and positions. When this consolidation period ends, I have reason to believe that volume is going to pick up (some indicators can't be used on tradingview unfortunately).
If there is no breakout, you will see the price likely pull back to the .5 retracement to try and complete the Ascending Triangle pattern. If the flag forms at the .786 and not at the .618, look for that to be the sign that the Ascending Triangle has ended.
If you have any questions, feel free to ask. If I missed something, feel free to add.
I recommend scaling into your position and avoiding all-in God Mode Choices until the Ascending Triangle completes and we are given the "GO" to make a Runaway Pattern to 4-4.5k range.
Expect some more large spikes as the Channel Upward is Closing quickly. A Flag is expected to form before a true break-out begins, so be on the watch for the flag formation.
Things to Note: Volume at 12pm May 1st, - Large Spike for the drop and the volume is starting to pick up. the Projection sideways accounts for building volume and positions. When this consolidation period ends, I have reason to believe that volume is going to pick up (some indicators can't be used on tradingview unfortunately).
If there is no breakout, you will see the price likely pull back to the .5 retracement to try and complete the Ascending Triangle pattern. If the flag forms at the .786 and not at the .618, look for that to be the sign that the Ascending Triangle has ended.
If you have any questions, feel free to ask. If I missed something, feel free to add.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.