Please be advised that this is only an idea, so you are responsible for any losses yourself.
First of all, many thanks for following and liking my ideas. I have had some very busy days, so I didn't post new ideas past days. I'll be more active from now again and I'll also provide you with some (penny)stocks and currency. But for the most part I will focus on cryptocurrency. Because this is my first idea of this year, I'll provide with a more detailed analysis than usual.
What we saw was a great correction past days. I really like this corrections, because it makes things clearer for the long term and it always brings us new chances. Where other people hates it.
We perfectly tested the 0.618 level. And what we see now are three hammers in a row. A close above the 20ma will confirm our strong uptrend. A close below the 20ma means a weakening of our uptrend, but our is still a strong support. A close below this support (Blue line) will confirm a signal. Besides that turned . We also saw a death cross (Crossover 50ma/200ma) on the hourly chart. We must not ignore this signal, but this isn't a strong sign in my opinion, because the of crypto are very high. A close below below the blue confirms a correction to 1.28.
In summary: I'm still on Ripple and I think we can look for higer levels again.
- Three hammers in a row.
- Bounced 0.618
- A close above 20ma (Purple line)
- A close above (Blue line)
- Death cross
- Close below 20ma
- Close below blue .
Short targets: (If a day candle closes below blue support line)
At the moment of writing, I've have a big position in XRP.
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome!
We are testing our next resistance now. I expect a break and a strong increase within 12 hours.
We broke the strong resistance line, I posted yesterday and it looks like we will close above our strong support line. A little patience is needed now.
We broke our support intraday. We need a close above it to continue our uptrend.
Sweet thing is that at that same point is the fab level .618!! Currently I am at the sideline, but you can bet I will go fully in around those levels ;)
The wedge is realy big and thus strong, it will surely rise from there to great hights immediately. :)
I've posted on it, a few times already.