XRP/BTC - Today's Weather Forecast: Sunny :-)
Yesterday XRP hit our retracement target at 3250 sats, exactly as expected :-) In today's idea, we will look on the daily chart. Don't forget to give us a like and hit the subscribe button. We will follow this trading pair daily and don't miss the updates:-)
Let's jump into the chart:
On the daily time frame, we can notice some interesting development which I would like to point out.
- Support/Resistance line: Right now XRP is trying to break out one of the major resistance lines which are at 3338 sats. If we'll close the day above this line the next upward move is expected.
- STOCHRSI: Today we can notice the cross on the STOCHRSI which is usually a bullish sign. If both lines will continue rising into the 20/80 zone, this would be another bullish sign for further development.
- RSI: Is on bullish territory and is moving around 66%
.MACD: Is neutral and everything can happen from now on. On the histogram, we can notice fading momentum which approaching the zero line. For further price development would be very important if the histogram stays above this level and start painting light green candles. We also don't want to see crossing the signal line and MACD. The signal line and the MACD line are above the histogram which is bullish.
In conclusion: So far it is developing as expected and we just need to wait and see what happened. Tomorrow I will update you with the weekly timeframe which is wery interesting as for now.
LOWER TIMEFRAME:
In 1 our timeframe we are currently in retracement- we're expecting this retracement will be finished around 3295 - 3313 sats. If XRP will bounce from this level we can expect another leg up, up to the 3416 - 3445 sats level. As long as XRP will stay above 3295 sats would be ok.
Let's jump into the chart:
On the daily time frame, we can notice some interesting development which I would like to point out.
- Support/Resistance line: Right now XRP is trying to break out one of the major resistance lines which are at 3338 sats. If we'll close the day above this line the next upward move is expected.
- STOCHRSI: Today we can notice the cross on the STOCHRSI which is usually a bullish sign. If both lines will continue rising into the 20/80 zone, this would be another bullish sign for further development.
- RSI: Is on bullish territory and is moving around 66%
.MACD: Is neutral and everything can happen from now on. On the histogram, we can notice fading momentum which approaching the zero line. For further price development would be very important if the histogram stays above this level and start painting light green candles. We also don't want to see crossing the signal line and MACD. The signal line and the MACD line are above the histogram which is bullish.
In conclusion: So far it is developing as expected and we just need to wait and see what happened. Tomorrow I will update you with the weekly timeframe which is wery interesting as for now.
LOWER TIMEFRAME:
In 1 our timeframe we are currently in retracement- we're expecting this retracement will be finished around 3295 - 3313 sats. If XRP will bounce from this level we can expect another leg up, up to the 3416 - 3445 sats level. As long as XRP will stay above 3295 sats would be ok.
Comment:
Today I mentioned that expected retracement would be at 3295 sats. Exactly this was happened during the day. (As expected - again :-) )
Stop loss would be below 3280 .... in this case we will still be in profit :-)
Stop loss would be below 3280 .... in this case we will still be in profit :-)
Comment:
Correction:
Stop loss below 3250
Stop loss below 3250
Pay a close attention to BTC. If BTC goes parabolic upward, altcoins can bleeding. More about BTC tomorrow.
Don’t forget to put stop loss!!!