Looking at the chart above I have identified triangle patterns all the way back to early December 2017. We can also see triangle patterns inside of triangle patterns (coincidence... no, it's beautiful geometry and fractals, haha) Looing at the large we can see that we are forthcoming on the fringe of the point! And the very last candle just barely broke through the top of the triangle!
Is this just a small whitecap or will this become a surging swell?
The is turning up (and producing higher lows), the is about to cross the support line (also producing higher lows), AND the just touched and is turning up. ALL are very positive signs and could show us a potential run is about to occur.
We could still see BINANCE:XRPBTC touch the support line again soon but when price is falling and the is rising that is a positive sign as well. SO, If you wanted to take the chance now would be a good time to buy with setting a stop loss just below the support line. If we fall below the major support line we could drop significantly, however, all signs are positive and if we bounce we could see a nice bull run begin to form and see a ripple create a new wave.
Any and all comments are welcome!
Happy Trading :)
***This information is not a recommendation to buy or sell***
*Please leave a comment and let me know what you think!