XRPBTC @ Poloniex: Short/Long-Entry Based On Cloud
It is possible to see that Ichimoku Cloud DOES NOT show great conditions to take long positions. So, for those whom are a little bit in a hurry, this actual moment is interesting to try E2E (Edge-To-Edge) cloud strategy with a short target around 12530Satoshis.
However, for those whom are NOT in a hurry, this is a interesting moment to risk a long position in this Shitcoin with target around 16500Satoshis region.
Above it is possible to see that RSI and MACD do not give much information regarding to divergences; nevertheless, RSI shows that this asset is not overbought and buyer team is winning the game, and both MACD and Volume clearly are showing that we are in accumulation phase.
However, for those whom are NOT in a hurry, this is a interesting moment to risk a long position in this Shitcoin with target around 16500Satoshis region.
Above it is possible to see that RSI and MACD do not give much information regarding to divergences; nevertheless, RSI shows that this asset is not overbought and buyer team is winning the game, and both MACD and Volume clearly are showing that we are in accumulation phase.
Comment:
And there it is a fast round-up with this shitcoin, lol.
It appear that we are having a possible falling wedge in formation + yet a non-entry signal based on Cloud for this time-frame (4HRs).
Looking closer at 1HR time-frame, based on divergences it is possible to see that RSI shows bearish team keep playing the game and MACD still confirm this with fast length crossing over slow length, even though both markers does not show any apparent divergence between price and their lines.
Notice that EMAs and Bollinger Bands clearly show accumulation of momentum in this zone with EMA 200 working as support and trend line (yellow line) region as resistance. In case EMAs does not hold price, it is expected price reach levels around 9612Satoshis.
Notice that EMAs and Bollinger Bands clearly show accumulation of momentum in this zone with EMA 200 working as support and trend line (yellow line) region as resistance. In case EMAs does not hold price, it is expected price reach levels around 9612Satoshis.
Looking up, based on Ichimoku Cloud in a 4HRs time-frame, it is not signalling entry point yet. However, Volume (*see blue arrow at the bottom) indeed have showed that there is a probability that we are going to have price correction/accumulation before we reach higher prices.
Once 4HRs time-frame Cloud checklist (*yellow text) be accomplished, 50% Fibonacci extension of this movement, which matches perfectly with flat kumo/cloud, is the target for those whom will make longer position in this asset.
Another idea that I was observing is a interesting long-entry setup based on daily time-frame from Larry R. Williams 9.1 Setup as shown below:
Usually 9.1 setup is for fast exit, which means that our proft target should be 1:1 ratio. Nevertheless, MACD and RSI look very promising, even though both makers do not show any apparent divergence.