Pair: XRP/BTC
Time Frame: 4H
So far, it seems like we have support around 0.000087 BTC which is good. XRP is still below 20 EMA which could be indicate that there is not enough demand as for now. The volume is relatively low as you can see. Both RSI and MACD is starting to curve downwards. We can also see a possible descending triangle where the price could go either direction. On the other hand, we are near the edge of bearish trending channel and a close above 50 EMA blue line could shoot the price up to 200 EMA pink line. A close above 200 EMA pink line would probably send the price up to 0.000115 BTC. If the price closes below the dotted red line then the price would probably fall down somewhere between the start of the arrow to the end.
Time Frame: 4H
So far, it seems like we have support around 0.000087 BTC which is good. XRP is still below 20 EMA which could be indicate that there is not enough demand as for now. The volume is relatively low as you can see. Both RSI and MACD is starting to curve downwards. We can also see a possible descending triangle where the price could go either direction. On the other hand, we are near the edge of bearish trending channel and a close above 50 EMA blue line could shoot the price up to 200 EMA pink line. A close above 200 EMA pink line would probably send the price up to 0.000115 BTC. If the price closes below the dotted red line then the price would probably fall down somewhere between the start of the arrow to the end.
Comment:
A TD countdown is also about to reach its 13th candle in approximately 1h 30 min which indicate a possibly reversal or slight pullback.
Trade closed manually:
Price is almost inside the bear channel again, a close underneath the dotted red line could mean bearish downtrend. If you decide to buy in now then remember to set your stop loss a little bit below the red dotted line.