Hello everyone,
Looking at the XRP/BTC chart, it seems we are favored to go up a bit until we test the falling resistance line. Upon break, we should hit the horizontal resistance and then probably retest the support at the uptrend line. Should it hold, look at price action and notice buyer pressure which would take us to the previous high during the pump this week.
Let's see how it unfolds.
Have a nice day!
Looking at the XRP/BTC chart, it seems we are favored to go up a bit until we test the falling resistance line. Upon break, we should hit the horizontal resistance and then probably retest the support at the uptrend line. Should it hold, look at price action and notice buyer pressure which would take us to the previous high during the pump this week.
Let's see how it unfolds.
Have a nice day!
Trade active:
It didn't explode upwards from the triangle but it least it tested the support zone and looks like is bouncing up. BTC had a nice run up, let's hope it can keep above 6,600. We should see some interesting action during the weekend.
You can go long now with a stop loss below the horizontal red support line.
Cheers!
You can go long now with a stop loss below the horizontal red support line.
Cheers!
Trade closed: stop reached:
Open short since it broke the trendline support and the horizontal support. Dropping now.
1. if it goes above vertically, just hop in and exit at recent high at around 11k sats.
2. If there is slower movement, look for candle close on 1h/4h above the resistance and long,
3. if it bounces from resistance, look to confirm support on trend line and guess what, long.