sunny.labana
Long

July and August XRP Short Term Trends

BITFINEX:XRPUSD   XRP / U.S. Dollar
This is my first Analysis. This is a chart I have been using for a few months.

Here we go:


Month of July, (~$0.70 Prediction)

If the uptrend continues we can see it touching the top of the green downtrend channel . This is a strong downward resistance that has been pushing us down since February. If we can break this point and sustain above the resistance area of ~$0.70 , it would show good momentum. However we need volume this month for confirmation.


Month of August, (~$0.20 Prediction)

If we continue with the same volumes currently we will see a reach to the YELLOW zone in the $0.20 range. This is the bottom in my eyes. This would push us into the high 90% correction from ATH . On the bright side we have bounced upward from strong support at around the $0.40 mark. The YELLOW and RED zones will be my buy areas. There seems to line up towards the October-December timeline.


Conclusion:

July and August are months to keep an eye on as we start to close the gap. Volume will decide weather we see any gains to be made or in my opinion, it may offer a chance for the lowest entry price point for 2018 @$0.20.

Any comments or suggestions would be greatly appreciated.






Comment: UPDATE: July 31st.

We continue to bounce off the $0.42 support. Volume is low. With this trend continuing we could see lower support tested. Buy zone for entry point 1 has begun. High probability of testing lower support (top of yellow box). The Yellow box will entry point 2 for buy in if we reach there.

Let's see how August plays out.
Comment: UPDATE: August 7th.

One week later we failed to build volume. A strong support at $0.42 broke, right on time. We are aiming for the top of the yellow boxed area ~$0.28.
Comment: UPDATE: September 2nd.

Almost there. Waiting to kiss the top of the yellow box to move into position.

Hopefully people made smart trades to increase your stack.

Thank you and good luck.
Comment: This is complete. Went as planned.

Purchases made in RED BOX = up to 100% return once we broke the upper limit of the GREEN downtrend on September 20, 2018

Purchases made in YELLOW BOX = up to 300% return once we broke the upper limit of the GREEN downtrend on September 20, 2018

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out