We are closely coming to a reversal. Markets are closely tied to specific events. The last bullish momentum we had in April started on Friday the 13th. On the exact time friday the 13th started in the first country. The end of Ramadan can be a specific moment to trigger a bullish momentum. Lets whait and see. Crypto is accepted by sharia law and mosks are starting to accept crypto. As most muslims dont gamble/trade during ramadan, they will join the market after.
Inidicators are all looking for some up-momentum soon and xrp/usd is going to hit the lower trendline since June 2016. As we diddnt hit the upper trendline last bullrun in december/Januari, this thing isnt stopping yet.
Also look at my idea for Usdt/btc witch clearly shows some upmovements in the cryptomarket soon.
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Xrp has hit the lower trend line from march 2017. There was some upmovement after this, but the volume is still to low my opinion. I guess the whales are still waithing for a hit at the trend line from june 2016.
Without doubt one of the best TA supported by very logical fundamentals I have seen here on TV. I am going to double down on my investment.
omda72
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crypto pto is accepted by sharia law and mosks are starting to accept crypt. As most Muslims don't gamble/trade during Ramadan, they will join the market after.
are you sure what youy've mentioned is correct , 1st crypto trading is not considered Gambling, 2nd Ramadan has nothing to do with trading ,truly a lot are far away from trading in Ramadan coz they mostly practicing teaching of Islam , 4th the mosks is Mosque .
seaski
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Doesn't this rationale assume that those who choose not to trade until after Ramadan are more bullish that bearish? Why else would you expect a bullish upsweep at the end of Ramadan?
RensBruin
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@seaski, Currently there are 1.6 billion Muslims in the world. Trading is not allowed during the ramadan. Sure some are doing it anyway and offcourse not all of them are trading crypto, but a new wave of money has to come in. Crypto is getting more accepted in the middle east and there's a lot of money waithing to get in, exspecially after the news it was accepted by Sharia law. So it makes a lot of sense i.m.o. Offcourse this just a idea and a possible fundamental for some upmovement. We just have to waith and see :)
arized
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@RensBruin "Trading is not allowed during the ramadan." - pretty sure this is incorrect.