XRP sees bullish surge above the symmetrical triangle & 4hr200ma

As we are about to close the current 4 hour candle we will likely close it above the 4hr200ma and above the symmetrical triangle both very bullish developments. If we can maintain above those we will likely go up to test the next resistance which is on the day chart shown here....it is the double reinforced resistance of the 1 day 50ma (in orange) coupled with the neckline(in yellow) of the current inverted head and shoulders pattern we are currently in. That will likely prove to be strong resistance...however, the red falling wedge we broke out of a while ago may in fact be more valid as a 3-6 day chart pattern and may only just now be triggering...if that is the case we can see the projected breakout target for the red wedge takes the price action well above the inverted head and shoulder neckline which would likely lead to triggering the inverted head and shoulder breakout as well which if that were to occur the next resistance zone would be the 1 day 200ma shown here in blue. Lastly, with the sudden big green candle on the 4hour chart the trajectory for the 4hour chart golden cross is now currently possible within 72 hours time...should we maintain above the symmetrical triangle that goldencross is almost certain to occur and help lead to more bullish action. Just my thoughts not financial advice

評論:

one last minute addition is the projected price target of a bullish break up from the pink symmetrical triangle is the exact same target as the breakup fromt he red falling wedge...that kind of confluence is always a good sign.