braddles69
Long

XRP/BTC out of the 20 month downtrend!

BITSTAMP:XRPBTC   XRP / Bitcoin
Having a good look at the charts, I drew the trendline from 2nd High of Jan 18, and the baseline from weekly close 17/4/17, and from how it looks with multiple tests and rejections and even long slow slide (yes XRP loves that one...;) along the downtrend line, I believe we actually broke out from this trendline 7 days ago, and have since retested it twice.





Below you can see multiple strikes along the line and the aforementioned slide....




Then the easy breakout, hit, distract and then climb over and then a couple of lazy retests....







An even closer image....this all leads me to believe that XRP/BTC is out and going to do it's own thing very soon, as you can see above the 10SMA and just below the 21 EMA - squeezed in there, if we break above the previous 2754 sats , we will then probably trigger a nice cross..and get a good Stoch cross as well..looking up I think...;)





Thanks for looking and let me know what your thoughts are in the comments. Cheers

Aug 31
Comment: On the LTF 4HR, symmetrical triangle w/ breakout target of 3000 sats,
triangle looks good so far with PA staying above the horizontal,
I would like to see more volume so at the moment give it a 70/30 chance.
Expected in the next 24-36 hrs.

Comments

I like the idea!
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Hi! I agree with this and have drawn the same a few days ago.

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braddles69 pennywise_the_sage
@pennywise_the_sage, There we go...great minds...;)
I agree the volume is missing, but it just seems the MA's and RSI have helped it over the line and organically it has freed itself from the downtrend, which you would expect with a utility asset more so than a speculative asset. I think it might rise slowly over the next few weeks as the market prices in upcoming announcements like R3, and SEC news.
Thanks for the comment
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Great, thanks! You're buying signal?
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braddles69 cyberholz
@cyberholz, If it was me, I would wait for a daily close above the 21EMA currently @ 2684 sats, probably tomorrow, but as always this is for educational purposes, DYOR, and good luck.
Thanks for the comment;)
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