XRP If this is a proper upswing ( I hesitated to say bull market/run), then we can count this as a correction.
So we want to find support at maximum @ the 200 EMA, in which case our "buy zone" is somewhere in the in the 70 cent range. anything above the rectangle buy zone and the upper red dotted resistance line is a "No Buy zone" as the risk to reward...
The chart shows multiple indications that things are looking very bullish, but what bothers me are the massive resistances coming up. one after the other, and until we break 1.5 we far from being in the clear.
Then there is that oversold RSI thing, dude how many days can you possibly stay over sold?
I guess will have to wait and seem, but I believe we are...
Good day all, Just wanted to update those interested of possible scenarios.
as you can see XRP bulls have reached to gate of of the bear castle and were repelled as they tried to storm the castle walls.
the battle was intense but a strategic withdrawal was ordered and a regrouping @ 0.85 is currently in progress.
So this was a TA alla Magic poop cannon MPC...
MY Strategy is to follow the trend lines.
I am a long term (swing investor)
I sold some positions @0.67 and I will enter again after the 55 crosses the 200 EMA. which looks like around 0.75-0.78. and the follow the trend. (see light blue line)
anything between the Red and the light blue horizontal lines is a "no trade zone"
I personally believe that we are...