Last week we wrote XRP: What Is This Mysterious Chart Forecasting. We explained why Saturday February 29th, 2020 is a hugely important point in time. Today we follow up on this. As said this week is important, and the jury is still out. If the ongoing test is successful it will confirm our long standing XRP price forecast.
Last week we featured the weekly XRP chart, but just the close up. Note that we are very respectful to premium crypto members, they get the full charts and the interpretation of those full charts.
This week we feature the daily XRP chart, and again we show a close up.
Anyone who has advanced chart reading skills gets very excited about this chart. It tells us a few things:
- A secular bull market test is ongoing.
- A successful test will be hugely bullish long term.
- Many investors will feel discouraged by the recent decline from .34 to .23, many will give up.
- A secular reversal pattern is complete early April 2020. This is a big thing, a very big thing, especially if XRP succeeds.
- Last but not least, we see a potential new rising channel on with this week’s decline. Every problem has an opportunity, it is a matter of understanding which opportunity exactly.
Weak hands have left the arena this week. Strong hands may be finally taking full control now. That’s the most important message of this chart for us.
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