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18 April 2021

Bitcoin, Ethereum, and XRP Are Primed for Higher Highs | Crypto Briefing

Bitcoin, Ethereum, and XRP Are Primed for Higher Highs | Crypto Briefing


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A downswing towards the 38.2% or 23.6% Fibonacci retracement level would make the inverse head-and-shoulders pattern more symmetrical. .

It is imperative to pay close attention to the pattern’s neckline or the 78.6% Fibonacci retracement level at $59,290 in case an early breakout occurs.

Such a bullish target is determined by measuring the height between the neckline and the head of the inverse head-and-shoulders pattern and adding that distance to the breakout point.

It is worth noting that a rejection from the $2,050 resistance level could result in a pullback to the 78.6% Fibonacci retracement level at $1,860

Another spike in buying pressure that allows XRP to slice through the pennant’s upper trendline or the 78.6% Fibonacci retracement level at $1.00 will signal a potential breakout. 

Under such unique circumstances, this cryptocurrency could surge by nearly 50% towards the 127.2% or 141.4% Fibonacci retracement level

While the odds seem to favor the bulls, investors must note that XRP needs to hold above the 61.8% Fibonacci retracement level at $0.86

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