This weekly chart not only depicts the potential fractal playing out (scroll left), but it also shows:
1) We are close to breaking downward channel/falling wedge
2) We must break and close above $0.36 price to feel fully confident trend is changing direction to bullish (big thick red line)
3) RSI has broken the downward trend and broken above downward trend line
4) Volume is picking up (positive sign for bulls)
1) We are close to breaking downward channel/falling wedge
2) We must break and close above $0.36 price to feel fully confident trend is changing direction to bullish (big thick red line)
3) RSI has broken the downward trend and broken above downward trend line
4) Volume is picking up (positive sign for bulls)
Trade active:
The falling wedge on the xrpbtc chart shows it is simply a matter of (short) time before we experience a breakout. Sure, it could have one final drop. However, the odds are in the favor of a long trader for a nice positive outcome.
One possibility would be an initial pop to ~0.0001 level, consolidation for several weeks, and then a very large breakout that could take-out all-time highs. If this played out, then I would imagine the larger 2nd breakout would take place during a strong altseason bullrun.
The falling wedge on the xrpbtc chart shows it is simply a matter of (short) time before we experience a breakout. Sure, it could have one final drop. However, the odds are in the favor of a long trader for a nice positive outcome.
One possibility would be an initial pop to ~0.0001 level, consolidation for several weeks, and then a very large breakout that could take-out all-time highs. If this played out, then I would imagine the larger 2nd breakout would take place during a strong altseason bullrun.
Trade active:
XRP Dominance: Something else I am keeping a close eye on
XRP Dominance: Something else I am keeping a close eye on
Trade active:
Here's a view that gets no mention: xrpeth chart.
I like that 5-day view for this one. What this show is that the 50-day SMA (purple line) has been a point of rejection in the entire down-trend. The last time we broke and closed above it (sep-18), we had a large run.
We are right at this line......
Here's a view that gets no mention: xrpeth chart.
I like that 5-day view for this one. What this show is that the 50-day SMA (purple line) has been a point of rejection in the entire down-trend. The last time we broke and closed above it (sep-18), we had a large run.
We are right at this line......
Comment:
one last view I like to view: xrpbtc on the 3-day.
similar to xrpeth, the 50-day SMA has been a major point of rejection.
Historically speaking, breaking and closing above this line points towards a very large break out
one last view I like to view: xrpbtc on the 3-day.
similar to xrpeth, the 50-day SMA has been a major point of rejection.
Historically speaking, breaking and closing above this line points towards a very large break out
Comment:
Everything in the market (name an alt), it's pumping harder than XRP.
The XRPETH is currently at a level slightly below where I thought it might get to.
A breakout will occur when few expect it
The XRPETH is currently at a level slightly below where I thought it might get to.
A breakout will occur when few expect it
Comment:
Getting above AND staying above $0.30 was critical.
Now what I would like to see is getting into that green zone: $0.36-$0.45
This represents an area between the last high and major resistance
Not expecting it, but if we broke right through $0.45 and stayed above it, extremely bullish
Getting above AND staying above $0.30 was critical.
Now what I would like to see is getting into that green zone: $0.36-$0.45
This represents an area between the last high and major resistance
Not expecting it, but if we broke right through $0.45 and stayed above it, extremely bullish
Comment:
We got lower on the XRPETH chart than I expected
Keep in mind, If you believe our value relation to ETH should increase based upon history (I do), then who cares if we're very lower, it simply means we have a higher value to make up for eventually; meaning a higher move up :)
We got lower on the XRPETH chart than I expected
Keep in mind, If you believe our value relation to ETH should increase based upon history (I do), then who cares if we're very lower, it simply means we have a higher value to make up for eventually; meaning a higher move up :)
Comment:
If you view my update from Feb 5th, you'll note my point on the 3-day 50-day SMA
We are now above this key level. If we can stay above this moving average line, then history suggests it is likely we have a large move up (within the next 2 weeks).
If you view my update from Feb 5th, you'll note my point on the 3-day 50-day SMA
We are now above this key level. If we can stay above this moving average line, then history suggests it is likely we have a large move up (within the next 2 weeks).
We have closed above the 200-day SMA on the daily. This is very bullish.
Next big target for me is $0.36