$XRP - Double Pennants potential big breakout
As we can see labelled on the chart there is 2 Pennants but are they both bullish?
When you take the length of the pennants flag pole and place it to potential break out area it is to give you a rough estimate to where it stops off to correct. But in this case pennant A's break out exceeds it's flag pole in length (up to 0.000087) and climbs up to reach 1.618 of the fibonacci extension (0.000090).
With Pennant B, because it is bigger, I have a feeling Pennant A could be a part of it's flag pole, so this means the bottom of Pennant A's flag pole is also the bottom of Pennant B's flag pole. If this is correct
XRP is in for a big climb up possibly crossing over 0.000100
When you take the length of the pennants flag pole and place it to potential break out area it is to give you a rough estimate to where it stops off to correct. But in this case pennant A's break out exceeds it's flag pole in length (up to 0.000087) and climbs up to reach 1.618 of the fibonacci extension (0.000090).
With Pennant B, because it is bigger, I have a feeling Pennant A could be a part of it's flag pole, so this means the bottom of Pennant A's flag pole is also the bottom of Pennant B's flag pole. If this is correct
XRP is in for a big climb up possibly crossing over 0.000100
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