epaka

XRPBTC - Ripple looking to test some high resistance lines

BITSTAMP:XRPBTC   Ripple / Bitcoin
Right now, we're looking at an up channel with resistance between 5550-5650 sats . If we pop that line, next channel resistance line is around 6050 (going back to October) - likely closer to 6000 this time around.

Lower channel support between 5300-5400. If we breakdown, we have soft support around 4900, and a hard support line at 4400.

Watch for breakouts above 5500 and breakdowns below 5300.
Comment: Couldn't hold the line and brokedown. Support is trying to hold at 5300, but I'm anticipating bull exhaustion and a breakdown to the high 4000's.
What your sell Target?
+1 Reply
epaka moses98
@moses98, I don't see it going passed 6000 sats on this run, so that's my high sell target. But I do see it as a great buy, long term.

Stop loss is hard to pin down right now because it's volatile. You could hit stop loss at a broken support threshold and have it shoot through the roof again. I'm putting my stop loss at 4700 and watching this one like a hawk.
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