Bitcoin took a dive since my last analysis, currently at 7300. Ripple on the other hand has been relatively flat, currently at 0.60 still up 0.03 from its low yesterday. LOI has been fluctuating about 1,000,000 over the last 10 hours, also seemingly to ignore whatever it is that Bitcoin is doing.
The purple line on the chart is the Monthly HA(P+S1)/2 Point, and was my target once the bullish trend-lines were broken a couple days ago.
While price is currently diverging from Bitcoin, Ripple chart structure has not mirrored 4H Fisher or 4H RSI, which indicates weakness. A reversal of 4H Fisher could indicate another run at 0.57, and even the Monthly S1 Pivot at 0.53.
Its encouraging that Ripple didnt dive with Bitcoin as it has been prone to do lately. For Ripple to truly move upward it is going to have to learn to ignore whatever thrashing about Bitcoin does.
The purple line on the chart is the Monthly HA(P+S1)/2 Point, and was my target once the bullish trend-lines were broken a couple days ago.
While price is currently diverging from Bitcoin, Ripple chart structure has not mirrored 4H Fisher or 4H RSI, which indicates weakness. A reversal of 4H Fisher could indicate another run at 0.57, and even the Monthly S1 Pivot at 0.53.
Its encouraging that Ripple didnt dive with Bitcoin as it has been prone to do lately. For Ripple to truly move upward it is going to have to learn to ignore whatever thrashing about Bitcoin does.
