#1 Crypto H4 XRP/BTC Upper Channel Reached Dec 29 2017
Price has reached the upper parallell channel rapidly. If one
adds an overshoot channel, it could mark the space at which
price is overbought. There is a chance price will respect the
upper channel which would retrace the pair. However, Ripple
is strongly bullish so there might not be much of a pullback.
Perhaps the 10000 Satoshi is also a psychological number,
which sometimes adds resistance. Overall, price seems
unstoppable at this point.
adds an overshoot channel, it could mark the space at which
price is overbought. There is a chance price will respect the
upper channel which would retrace the pair. However, Ripple
is strongly bullish so there might not be much of a pullback.
Perhaps the 10000 Satoshi is also a psychological number,
which sometimes adds resistance. Overall, price seems
unstoppable at this point.
Comment:
Price is hitting the added channel, moving parabolically.