This_Guhy

XRPBTC Falling wedge

Long
BINANCE:XRPBTC   XRP / Bitcoin

The play is simple. Right now XRPBTC is in a falling wedge. I like to throw in a centerline to see generally if the behavior is above or below the middle, and for what proportion of the time, and I guide the centerline around significant falling support/resistance. When the downtrend began XPRBTC spend the majority of the time on the lower half of the wedge and now we have found support on the upper of the bisector.
Zooming in we see the purple hidden bullish divergence that caused the price to pop up nicely into the top of the wedge and got us to stay above the bisector. The orange shows that more classic bullish divergence has occurred since then but hasn’t performed. The short term gains would be in that bullish divergence performing to the top of the wedge, and the long term gains are in this wedge performing to target. Even better if this triggers the almost year long inverse head and shoulders we have been watching.
XRPUSD is in consolidation and has found rising support on the 4h, and is under its SMAs.
The left side of the chart below shows BTCUSD had some bearish divergence that executed (blue) and the orange lines show a lack of bullish divergence to save the price action. It is at support and so I think we may see one last attempt to pop up but the best I think we could get is a double top. The right side shows price action just slipped past the 50 MA (we are still on the 4h) and things looked primed for a spill there.

Even if XRP and BTC fall agains the dollar the falling wedge on XRPBTC make it appear that XRP would not fall as sharply. I am hoping for XRP and BTC to move opposide directions against the dollar and I hope to see that play out within a day or two.

And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?

~Nathan Explosion
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