pAulseperformance

I think XRP is about to take off.

Long
BITTREX:XRPBTC   XRP / Bitcoin
BTC is looking ripe for a pullback. When that happens Altcoins do one of two things. Go up or go down. Generally speaking here, most of the altcoins in this market have been pretty dead for some time and haven't seen much growth if any since BTC starting its rally in March. So its possible we might see the altcoin market grow when BTC pulls back.

That being said, Ive been following this market for years and I have always noticed that XRP lags a bit behind BTC . XRP is also one of the top altcoins that hasn't really had much growth compared to BTC . ETH has seen a good rise with BTC and it also looks like it is ready to pullback. But XRP hasn't really been doing much.

So take a look at this Daily chart of XRP/ BTC and tell me what you think. Price is getting really close to the bottom trend of this triangle. Where historically it has increased in value rapidly. RSI levels are oversold. Theres some strong divergence with the RSI , unfortunately none with MACD so it's a mixed signal. But it's a nice confluence area and this is crypto, so 500% in a month is not unrealistic.

Happy trading :)
Comment: Look good for a reversal around 3170 sats.
Watch closely.

Comments

love xrp, but it's not stopping until 1000 sats
+1 Reply
merola miaomiao18
@miaomiao18, exactly.
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Why do you think 3170? My guess is closer to 2800
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@smyelar84, Good question. I am looking at the -113 fib extension of the last wave down on the 1 hour time frame. There is MACD divergence showing so -113 is a common fib for price to turn around at, under these conditions. It's also an area that is relatively close to the upward trend line. Keep in mind that reversal areas are always tricky; unless you follow them closely to the minute, you can forget about getting a perfect entry.
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smyelar84 pAulseperformance
@pAulseperformance, Thanks. I'm basing mine off of the current head and shoulders that looks to be forming. That would actually take it down to around 2650 (depending when the right shoulder is broken). Interestingly, that also comes pretty close to the rising trend line from 2-Mar-17, 16-Mar-17 and 8-Dec-17, which is around 2700. Any thoughts on that?
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@smyelar84, Could you post a picture please? I think buying anywhere between 3145 SATs (adjusted my fib: explanation below) and 2600 SATs will be a smart move. Just remember that if you are waiting for the perfect price, be careful not to miss it; historically, we can see that price moves too quickly to react. If this same pattern should continue, we can expect some kind of major announcement from ripple; but by the time you've heard about it, you will be late to the rocket ship.

Here's something that might coincide a little better with your target area (I produced this in hopes of extrapolating your point of view for target=2800) That green horizontal line isn't exactly the strongest zone to rely on, and all S/R zones are auxiliary to my main strategy. Also, it may not be evident to you, but my posted charts are Logarithmic. This one below is not; however, the trend-line still lines up along the same points and moves through the same area. This is a very strong signal.


1 Hour view again. This time with Logarithmic back on.
I added the green box region to give you, and anyone else a nice area to be comfortable buying. I also edited my fibonacci (it wasn't lined up correctly before.) Now the fib extension -113 is actually a little lower at 3145 SATs. And that -27 is at 2886 SATs.


Disclaimer: This is not financial advice. And anything you do is at your own risk.
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smyelar84 pAulseperformance
@pAulseperformance, Thanks for the pics. Hopefully this link will work.

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@smyelar84, You're welcome. You may want to look into head and shoulders patterns again my friend. This is not one.
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