Lets take a look at our XRP on 1 day charts.
What can you see I pointed 104 days, why is that? !
What that's mean to us? Let me explain to you in a minute, but first lets focus on facts.
1. Ripple is far from MA50 on 1 day charts but that doesn't bother us, because what can we see? MA50 is changing it's way it's not 100% now !!
2. MA200 is !
3. In a few days our "bearish" cloud will be getting smaller, and will go lower than it is. (Big opportunity to cross it and change direction).
4. As you can see on picture above, our ichimoki is showing as strong , that's why i don't think we will go any up before we will pass 104 day from it's TOP. as for result of that, i put the target which we should reach by that date.
If you have noticed or not, our downtrend ray (green) is crossing my target almost at the same time as i pointed 104 days.
5. Picture below explain everything. XRP have bulls to enter cloud, so it's following it around. I would like to point that cloud is generated 26 bars in advance.
Its really hard to say, what will happen after 18.04.2018 (104 bar from TOP). If we will break that support, we may fall harder, if we will hold, that can be a time when the correction is gonna finish !.
I think that's all from me, analyze and let me know what you think about that.
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
If you doing short, you may be interested in this:
our target is 0.72 by 27.03.2018