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Nice Cup and Handle pattern here on the 30 minute chart of Ripple.
We've made a few attempts at breaking this 1.30 level, and every time we pull back, but positive volumes are strong and I think we get a break eventually, heading up to that trend line which marks the upward sloping wedge pattern's upward bounds.
Break out would take us to around 1.36 and then that trend line at around 1.40.
THE TRADE:
Long above 1.30
Profits at 161.8 Fib level at 1.36 and then 1.40 at trend line resistance.
Stop below the bullish engulfing candle at 1.24.
I would buy any pullbacks into that 1.25 level until we break it, anticipating a break out of 1.30
We've made a few attempts at breaking this 1.30 level, and every time we pull back, but positive volumes are strong and I think we get a break eventually, heading up to that trend line which marks the upward sloping wedge pattern's upward bounds.
Break out would take us to around 1.36 and then that trend line at around 1.40.
THE TRADE:
Long above 1.30
Profits at 161.8 Fib level at 1.36 and then 1.40 at trend line resistance.
Stop below the bullish engulfing candle at 1.24.
I would buy any pullbacks into that 1.25 level until we break it, anticipating a break out of 1.30
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SammyNoden
A long patient hodl is just starting to pay off. Lots of speculation that Ripple will be added to Coinbase, so price could continue up. Next technical level after $1.65 looks like $2.25.
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THeAudiophile34
Excellent call, sadly my funds were all locked up in ETH. Looking for next buy in, but does not seem to be ready to drop.
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BerlinTrader591
THeAudiophile34
@THeAudiophile34, we seem to have made a new breakout of the wedge pattern, so i expect a move to 1.70 or 2.00 soon
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THeAudiophile34
BerlinTrader591
@BerlinTrader591,Definitely possible! Noticing a lot of resistance around 156-160, though.
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Rokkarolla
THeAudiophile34
@THeAudiophile34, Enough to make it bounce back to 1.90 now :)
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