RIPPLE (XRPUSD) Long-term channels, resistance/support
Ripple retested former log support with apparent rejection. However it's not stupid to realise you could be wrong and hedge both ways. So expect the unexpected! Sure signals are very rare. Fiat hodlers are waiting for the sure signal on Bitcoin - the lambo capitulation wick! Let's see if everyone gets what everyone wants...
Remember the trend is your friend UNTIL THE END and that end can come very suddenly and not where that fractal or that fib was telling you it should come!
DIY indicator:
I am long-term pessimistic on crypto. I could believe in a bear market that extended 10 years or more, but I still have BTC for opportunistic trading. Just because the end target is $xxxx, don't expect to go there directly. Look at gold - it took 20 years to reach the bottom after its first 10 year bubble. Who knows who long it will take Bitcoin.
Remember the trend is your friend UNTIL THE END and that end can come very suddenly and not where that fractal or that fib was telling you it should come!
DIY indicator:
I am long-term pessimistic on crypto. I could believe in a bear market that extended 10 years or more, but I still have BTC for opportunistic trading. Just because the end target is $xxxx, don't expect to go there directly. Look at gold - it took 20 years to reach the bottom after its first 10 year bubble. Who knows who long it will take Bitcoin.
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if breaks down
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Converging pattern forming
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Watch for triangle breakout: explosion could be spectacular
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Ripple never really took off, fell back under two important resistances
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XRP getting pushed in a corner
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I'm not long on xrp, but this is where the 'moonshot' will happen and then crash and burn, eventually back to 0.25. There will be no 'alt season' until there is a new BTC high, if ever.
