Ripple has just broken its multiple day inside bars, which are always an equilibrium on the smaller time frame like 4H. With that, we have right now reached the previous resistance from last week at 60 cents, and it's normal to see some reaction from the bears here. If you got triggered in with the break of the 4H equilibrium, awesome! Now you can wait & see, if we can get any follow through.
XRP is even stronger in the direct correlation to Bitcoin , reaching .9 previous resistance (without nills): Very similar picture to the USD consolidation.
This begs the question, what is grandpa Bitcoin doing? => Here we're still in this daily , which is getting more critical by the day. It is hard to imagine, that a bear break with Bitcoin at 6.000 wouldn't have any effect on Ripple. A bull break on the other hand, would fuel Ripple's growth even more.
Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up, because the video gets shown to other people then. Make also sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC .
But is the move completely lost? No, we're still definitely upholding the break-out zone of 0.552: Just look at how many green candles it took us to get above, and how many red candles it takes us to get down again! ;) So should we lose the 55 cent definitely, I'll have no problem closing the rest of my position.
But definitely beware of getting back into the equilibrium zone underneath 55 cents: That would be a red flag, esp. if we lose previous higher lows at 0.5245: That would a) negate the bull break, and b) highly increase the chances of a bear break to the previous lows on the 4H.
I'll be at a conference the next 3 days, so won't be live trading myself. I wish you a good trading!
And one last thing: Thank you so much for your support. I can definitely see, that the majority of my followers here are people with a decent character & logical sense, who are willing to learn & take responsibility for their actions. If you wanna understand what I mean, look at the comments section. This is right way guys, keep learning & you'll rock it! Happy to have you guys as my viewers! :)
You can write anything that you want. But from all the nonsense analytics that is going in on TV, I am the last person, you can throw stuff like this at.
and there is a reason this section of the site is called "IDEAS". because people are just expressing their ideas here, that's all.
my reason for being here is to learn TA. i don't even trade, because i don't understand the market movements like a trader should do, yet. Jack and some other guys are my guides. i want to know what the majority of traders looking for in charts. what indicators they use and in what situations. even if they are totally wrong, that's fine, i can still learn something about their mistakes and try to not make those mistake in future and in my analysis. believe it or not, i started to learn because of one sentence: "The markets discount everything", it got me. i want to know how true it is. i am here now and i know a lot more about many aspects of the market now. i knew nothing. i now know that sentence isn't true about markets with low market cap and volume.
if you can't see any value in any of this, do yourself and others a favor. keep your valuable ideas to yourself. or at least learn how to express them politely.