Community User

$XRP update:

Hey folks,

We've taken a look at the current situation in the chart and can now rule out the "ascending triangle." Instead we should focus on the range!

As you know I'm not really a big fan of these chart formations unless we're talking about harmonic patterns but they also tend to work better in traditional markets.

Most simple triangle patterns are crap...

Right now our main focus is on volume, the Wyckoff method and TPO.

We'll dive deeper into those later for those who are interested.

CHECK: We're closely monitoring the range. If we sustainably drop below it it could mean that we're still in the second phase and just came out of a secondary test (ST).

The actual "spring/shakeout" might be yet to come.

Reminder: If we hold the range or fail to form a clear Wyckoff structure (because not all range are wyckoff) we need to bring volume back into play and pay attention to the impulse profile.

This all relates to a 15-minute chart.

#Altcoin Season#

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