XRP/USD: The extended version of prev cycle, almost finished?²

2019年2月13日

Continuation from above. More detailed projection of my view.

2017: the year we had to pass the 30c barrier. This was not easy, as it got sold off every time. You could look at the RSI channel in 2017 and look how tight the price kept surpressed. Some kind of, accumulation zone. As soon as be break either way, there's an explosive breakout. The longer the channel the bigger the potentional could be in crypto.

Right now, we are in a symmetric triangle, it's not the same channel as in 2017 but it's the same idea: surpressing the price in a tight range. We are nearing a break here.

Price wise: It's laying on the bottom zone (green) i drew there, The +/- 30c resistance from 2017 turned in to support for the 2018/2019 bottom.
Wanted to point out that these patterns were indeed, similar with the previous consolidation,
after a run, you get a correction, the downtrend
then suddenly, there's a point, with massive volume, indicating the floor
that's 1
then you got 2 and 3
we are at the end of 3 right now.

we are laying on the floor with little price action

but, some pumps every now and then and getting sold off, the price keeps surpressed (in the RSI symmetric triangle).
this is happening the whole time, it's getting sold off to make the rally stop,
when finally the powers decide it's enough accumulation, they let it go
you just can't know when on a exact date, but you could analyse market behaviour like that and recognise it