$RIPPLE, Let's Observe the Situation!

31 de ago. de 2019

Here at XRPBTC we can see a symmetrical triangle and the chances of both exits are equal. Let's take a look at the price movement inside the triangle in order to choose one direction. We see how the price made its way through the upward support with spikes down, also the price kept below the horizontal level with the good opportunity of accumulation of long positions.

All these things matters and votes for the LONG, but let's talk about the most important sign. First of all, it's important that the price fixes above the horizontal level of the separating triangle. Secondly, we should notice the price fixing outside the triangle. Trird and the final one is a breakout of 0.00002785 level and fixing above.

Thus, we can open a position above the horizontal level separating the symmetrical triangle, then above the downward resistance and finally, breaking through the 0.00002785 level and fixing above. In case of breakdown of these levels, the price will continue falling down.