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Possible bullish wedge for XRP

Diupdate

The volume picture is not the one i want to see with a pattern like this but the shape seems to be valid. It should not break that green support area anymore

Catatan

Of course, without a breakout the risk is still high of course! I always try to catch the low so i can use a tight stop or wait for the break out and maybe even possible pullback. But pullbacks don't happen that often in crypto

Catatan

From a very bearish outlook all of a sudden all alts seem to have turned it around. The wedge is still in play because of this bounce. Now it needs to break the wedge to continue this rally.

Catatan

Volume is still not great but it's okay. So far the rally is continuing, i think the bulls need to keep this speed, at least not a day of sideways action now. The market is to weak to hesitate, need to put some pressure on the bears.

Catatan

Just noticed i posted the wrong chart here. Anyway, it is still looking good and stable at the moment, nice solid bull flag. Only thing making me doubt a bit about going up from here or not make a small drop first, is bitcoin. But anything within this bull flag is still very bullish.

Catatan

Looks like the XRP buyers were just waiting for the market to show a little bit of bullish momentum. The target has been reached already with this big rally today. I think allot more is possible so what i always do, is keep part of the position and use a trailing stop

Catatan

So XRP made another big push up. Only thing that can F things up, is Bitcoin. It's still in dangerous territory. Otherwise it would be very easy to say that the long term low for XRP has been set. Because bulls broke a resistance now. Formed a double bottom and the volume is still very good at the moment. Next target seems to be around 0.45. As i mentioned in the previous update, because the move was so strong, it was worth keeping part of the position. Doesn't always work out, but when using a trail stop. It becomes like a new trade and the risk reward for it is/was really good!

Catatan

Wow :)

Catatan

Update:

XRP bullish wedge part 2, possible inverse H&S

botje11

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