Reduced attention from XRPBTC price at a consolidation range.A slight slow upward movement from its current range is current ongoing.
After moving slight up to 6%, price is currently holding at some levels. To determine the price trend, a chart pattern will be used.
THE EXTENTED V BOTTOM CHART PATTERN.
Extended extended V bottoms are chart patterns that are easy to spot after they have completed. They appear just like their names suggest, V-shaped or inverted V-shaped price patterns on the chart.
The right looks more like a pennant flag pattern.
Look for price to make a straight-line run downward with few or no pauses, often fitting inside a channel.
Price at the bottom of the V will form a one-day reversal, island reversal, or tail, usually on heavy volume, perhaps gapping upward.
After the reversal, price pierces a down-sloping trendline drawn along the price tops, confirming the trend change.
Uptrend Price trends up, usually at the mirror angle of the downtrend. If price dropped by 30 degrees, price will rise following a similar angle.
The extended V bottom is a variation on the V bottom. After price reverses at the bottom, price forms a flag or pennant pattern – a sideways price move that often swings downward against the prevailing upward price trend. Once the flag completes, price resumes the rise.
Technicals suggest that the price has broken out of the flag shape and current holing up at brown box zone. This is a signal to take a position and go long to the next possible targets.
BUY: 0.00008190sats( or at current price and hold)
SELL:0.00008590sats up to 0.00008777sats
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.