So here is my thought process:
This rally started from 0.30 levels and went up to ~0.50 on Nov 22.
After that point, it went for two days of sideways movement and jumped to 0.80.
Now, the highest point of ~0.50 on Nov 22 coincides with the 0.618 level on FIB retracement from 0.30 to 0.80 level.
If the latest high point of 0.80 is going to coincide with the...
I am basically tracking four things here:
- W formation
- Fib retracement
- Support line
IMO it still needs some time to make a big green candle. If;
1. BTC makes its big move DEC-JAN time frame,
2. ATOM price stays in the green box,
3. RSI level goes around 30-40 levels,
I should consider taking a position.
This is for personal records, not meant to be...
A couple of days ago I published a graph showing a correlation between XRP and BTC by the percentages of price change. I exited XRP now and looking for a retracement in order to find a re-buy area. Not an investment advice.
I saw someone compared BTC's yearly trends and it gave me the idea to compare one of my favorite altcoins XRP's long-term trend with BTC's.
Blue line is XRP price change by percentage. It looks like in late 2017, BTC and XRP pumped and dropped following a similar pattern. With a small portfolio in XRP, I will be watching to see if it happens again.