I have nothing against Coinskid, hes a great youtuber who posts amazing TA multiple times a day. I simply have a different opinion on where XRP is heading short-term. Top- My idea Bottom- Coinskid's idea (roughly) twitter.com/tomskiweb/status/1432651245924331523
My idea: I think XRP will soon break out of a symmetrical triangle because: -Bullish symmetrical triangle formed after impulse waves/correction -RSI broke out of resistance and held support -MACD crossed bullish as well as printed green histograms on 4h chart -Double bottom formed at VERY strong resistance/support level -5 wave within wave "C" formed already -0.382 retracement target met with a double bottom, this is a common level to retrace to during a parabolic uptrend (wave 3)
Coinskids chart flaws: -RSI bullish breakout + back test of resistance as support = bullish, not bearish -Descending triangle target well below 0.618 level (which is already unlikely to be met during parabolic price action) and even falls below 0.786 level -MACD bullish, not bearish All of this = negative price action?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.