BigBitsIO
Long

XRPBTC - Going long for a longer play

POLONIEX:XRPBTC   XRP / Bitcoin
POLONIEX:XRPBTC looks like it is in a good risk to reward position to go long on the weekly chart. The MACD is turning bullish if the weekly close confirms the crossover. Regardless, with the MACD already so low it would be pretty difficult to cross back down again without a major sell off. This is crypto, so I'll have to monitor that situation.

Stochastic RSI is also leaving oversold conditions and could provide some relief in the coming weeks.

As for the price, I'm expecting it to test resistance from the previous supports that failed recently. If you've looked at other ideas I've posted lately, you can see other altcoins hitting their previous supports that failed, and POLONIEX:XRPBTC has yet to do so. XRP has a cult like following and likely won't be lost in the bear market, so I'm thinking this is a great spot personally.

DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out