Hey, I am back with another Crypto idea, this time looking at XRP/USD.
So XRP has been "idle" for some time again, I expected the price to breakout sooner as it was in a big bull flag which is currently the price breaking out of right now.
But! Now in the past 7 hours, there was a 7% spike which is a good indication of possible breakout.
Technical site of 4H Chart.
1.Downtrend line are not active, respectively is broken.
2.Uptrend line is active.
3.Last high of full candle close $0.32460, was not yet broken by a full candle.
4.The RSI has printed an inverted head and shoulders pattern which is a strong bullish formation.
5.The MACD has made two retests of buy signal and now is showing a strong buy.
6.EMA's are giving buy signal.
7. The price is making a higher lows and higher lows.
Tehnical site of Daily chart.
Explained on the chart below.
Still the most important is the close above $0.31.
Trading strategy
I am already in since $0.31, when the momentum has arrived, but I reccomend to buy the breakout above $0.32 or at the uptrend line at around $0.3075.
Take profit levels
% Calculated from 0.31$
$0.34 (10%)
$0.37 (19.5%)
$0.40 (29%)
And that's it from this analysis, I hope you liked my Explanation of the XRP Chart, if yes, please don't forget to hit that like button and if you want to see more similar analysis follow me to stay updated :)
Cheers,
Tibor
So XRP has been "idle" for some time again, I expected the price to breakout sooner as it was in a big bull flag which is currently the price breaking out of right now.
But! Now in the past 7 hours, there was a 7% spike which is a good indication of possible breakout.
Technical site of 4H Chart.
1.Downtrend line are not active, respectively is broken.
2.Uptrend line is active.
3.Last high of full candle close $0.32460, was not yet broken by a full candle.
4.The RSI has printed an inverted head and shoulders pattern which is a strong bullish formation.
5.The MACD has made two retests of buy signal and now is showing a strong buy.
6.EMA's are giving buy signal.
7. The price is making a higher lows and higher lows.
Tehnical site of Daily chart.
Explained on the chart below.
Trading strategy
I am already in since $0.31, when the momentum has arrived, but I reccomend to buy the breakout above $0.32 or at the uptrend line at around $0.3075.
Take profit levels
% Calculated from 0.31$
$0.34 (10%)
$0.37 (19.5%)
$0.40 (29%)
And that's it from this analysis, I hope you liked my Explanation of the XRP Chart, if yes, please don't forget to hit that like button and if you want to see more similar analysis follow me to stay updated :)
Cheers,
Tibor
Comment:
Good time to buy, there is a hidden bullish divergence on 4h chart