I think that we have reached a decision point for XRPBTC. Rejection at the Ichimoku means that we will probably lose the 50 daily MA (pink) and retest the 200 MA (red).
Please note that XRPBTC has not yet lost support of 200 MA during this correction.
If we go below the 200 daily MA will head towards the underlying trendline (blue) and most likely the USD price for Ripple will go sideways. This is what happened last time, please see the previous bubble pattern & highlighted area (however like I say the 200 MA had already broken then).
The bearish Ichimoku cloud is getting thinner, but not enough that it can't be expanded by a simple loss of support.
If we do not get rejected and we break through the Ichimoku cloud, there is a good chance for a massive rally imho.
However I can attest this is what some peeps thought back in August 2017 too ;)
Will it be different this time?
Please note that XRPBTC has not yet lost support of 200 MA during this correction.
If we go below the 200 daily MA will head towards the underlying trendline (blue) and most likely the USD price for Ripple will go sideways. This is what happened last time, please see the previous bubble pattern & highlighted area (however like I say the 200 MA had already broken then).
The bearish Ichimoku cloud is getting thinner, but not enough that it can't be expanded by a simple loss of support.
If we do not get rejected and we break through the Ichimoku cloud, there is a good chance for a massive rally imho.
However I can attest this is what some peeps thought back in August 2017 too ;)
Will it be different this time?
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Added daily Stoch and RSI
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Stoch RSI is maxed out like most coins right now.
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XRPUSD Death Cross