I wanted to share some possible harmonic patterns in XRP.
These are on the 4 hour chart.
The first and more obvious one is the AB=CD pattern. If the pattern holds then a move along CD would take us to 1.83 before a reversal.
The other pattern is a larger Butterfly pattern. This would extend CD to just over 2.00 or potentially as far as 2.25 before a reversal.
Butterfly
Both of these are Bearish patterns and you would expect a reversal with both.
These levels are potential take-profit areas if going long or areas to take a short.
Let me know what you think. If you found this helpful or if there's something I got wrong or can improve upon.
Thanks!
These are on the 4 hour chart.
The first and more obvious one is the AB=CD pattern. If the pattern holds then a move along CD would take us to 1.83 before a reversal.
The other pattern is a larger Butterfly pattern. This would extend CD to just over 2.00 or potentially as far as 2.25 before a reversal.
Butterfly
Both of these are Bearish patterns and you would expect a reversal with both.
These levels are potential take-profit areas if going long or areas to take a short.
Let me know what you think. If you found this helpful or if there's something I got wrong or can improve upon.
Thanks!
