I'm not really confident that this pattern will finish printing, but still wanted to share it.
A sharp eye/individual who's familiar with the Wyckoff patterns will notice that the price violated the pattern at least twice, once near the AR and in our most recent leg up, when it ran straight to the resistance level & has now collapsed back down.
Perhaps this is simply a sign of how bullish XRP investors are at this price range, that whales are struggling to pick up as much XRP as they'd like, w/o a rapid price rally. If that's the case then there's an argument to be made that the pattern's not going to complete. Instead whales will attempt to bring XRP down another leg, perhaps back to the $0.50 range, so they can meet their accumulation targets, before allowing the price to rally back to it's mean around $0.74.
Still, $0.60 isn't a terrible range to fill up a bag of XRP.
Just my opinion of course, not financial advice.
A sharp eye/individual who's familiar with the Wyckoff patterns will notice that the price violated the pattern at least twice, once near the AR and in our most recent leg up, when it ran straight to the resistance level & has now collapsed back down.
Perhaps this is simply a sign of how bullish XRP investors are at this price range, that whales are struggling to pick up as much XRP as they'd like, w/o a rapid price rally. If that's the case then there's an argument to be made that the pattern's not going to complete. Instead whales will attempt to bring XRP down another leg, perhaps back to the $0.50 range, so they can meet their accumulation targets, before allowing the price to rally back to it's mean around $0.74.
Still, $0.60 isn't a terrible range to fill up a bag of XRP.
Just my opinion of course, not financial advice.
Kommentera:
Wow. I don't think that have played out more perfectly.