XRP / USD TA
If we look closely at the 2017 vs 2019 fractal we will see similar movement occurring nearly within the same time frame. Although no fractal is a guarantee of a repeat in the future, we are 7 out of 8 movements into a possible accumulation / breakout phase. Next move should theoretically result in an abrupt green candle. According to this specific...
Reasons for it:
- Price in Triangle
- Triangle on local uptrend
- Price didn't hit Buy Zone from previous idea and bounced from Mirror Level
- Mirror level is 0.2867 $
- 1st resistance is previous high 0.30 $ then other targets
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Explosion. that's what happened. Check it out.
If this week stays flat or starts moving up, expect a large move when all the algo's jump on it with this cross. How high? either 50 cents or 75 cents. Higher, maybe, but I doubt it for now.
Pattern is pretty clear, take this in conjunction with my previous idea of XRP market cap. Price action follows exponential decay both in market cap and USD pairs. It will pump after, maybe. But not higher than 0.5.
It can also be supported at 0.22 by the exponential decay line, like previous decay, but I am more bearish because of the market cap pattern.
So... XRP break the Falling Wedge - and it is moving in a nice, well defined, uptrend channel.
The problem with this breakout it the low volume. But for me what happened was enough.
If XRP follows what is expected for a bullish channel pattern, we should have some stronger highs interspersed with small recessions - predictable and orderly. This pattern is...
Ripple has been building some very nice stair steps up. I feel like this could be a good entry or re-entry point for a long, assuming this curve holds and shows a continuation. If the curve trend breaks, it might be a nice entry for a short. Id like to hear what everyone else thinks. My first trade on Ripple.
$0.28 resistance was breached and rejected at $0.30. Expect to stay in the $0.28 to $0.30 channel for a few days and retest $0.30 once or twice. If $0.30 is breached, next resistance is $0.33. Possible retrace back to $0.27, but it will be short lived.
Swell pump is on target for $0.40.
XRPUSD rejection from strong Resistance at 0.300$ price level. XRP still hold above EMA 21,50,100,200 periods, above green support trend line. Potential Correction up to 0.2708$ 0.5 fibs level.
Bearish Volume increased confirm started of correction.
Indicators: RSI above 50 points, MACD bearish crossover above zero line. First sign of Correction.
Greatest looking short Ive seen in a long time. Great RR for those swing traders out there. The markets have been behaving strangely but I still think there is alot of money to be made in the coming days for ALTBTC shorts.