Hello fellow traders.
Very exciting day in crypto. Looking on the 1h chart, we see that the next hour brings the possibility of a golden cross for XRP. This also happens to be in a possible inverse H&S which can be seen on lower time frames targeting $0.4 to $0.41
here is the image:
Wait and See...
As can be seen on the attached chart, XRP is in a bullish falling wedge formation and has made the first 2 parts of an inverse H&S. If completed, the target would be around $0.43
This would be important IMO as it would break the continuation of the bear flag whose pole started at $0.443 as well as breaking well clear of the downtrend line that had...
Not grasping at straws here but there is a bullish divergence showing on the 1h chart above. Lower low on chart with a higher low on RSI.
Just pointing it out as a possibility for short term bounce.
Just a simple observation of hidden bearish divergence showing up in BTC on the 4h chart. Alt coins are doing much better that BTC and if a sell off ensues in BTC, alts will follow. I expect it will not take too long as we are at the top of the resistance channel. EMA100 will be the next conquest if BTC wants to fly higher.
As always, in crypto,...
The $7,400 support is important as if broken could trigger a quick H&S pattern selloff to approx $7300-$7,250 but could cause panic selling further down so as to continue the downtrend we broke this morning.
Lets see what happens.
Taking a look at the chart, we can see there is some hidden bullish divergence and I think we may be going up inside the highlighted channel. Just a thought to monitor and see if it happens that way.
Comments always welcome.
Looking at the 1h chart, we can see the possibility of the formation of the right shoulder which if formed would also be part of the breakout of the bull flag shown inside the green oval.
The 50 EMA has been acting as resistance but if its overcome, we should see an acceleration to the neckline and hopefully further to the target.
A strong reversal...
Taking a look at the 30min chart, we can see 2 inverse head and shoulder possibilities. The larger one in green and the smaller one that's almost complete in orange. The one thats almost complete in orange is targeting $9,350 or so and the larger one (if the orange one doesn't matérialise) is potentially targeting$9,450 is the right shoulder forms.
XRP is TRYING TO break through the downtrend resistance line. If we have a strong break through, I believe we will be testing the march high of $1.08
Ofcourse this assumes our beloved whales let nature take its course.
Good luck and your thumbs up are greatly appreciated.
Hi guys, we just had a golden cross on the 4h chart. Things are looking extremely bullish all around. Now if only the whales just let nature take its course...
Good luck and your thumbs up is greatly appreciated.
Things are really looking up. We are now trading outside of the downwards channel with what i think is lots of accumulation in the 8,000-$8,400 range.
We seem to be in a new upwards channel (in green) and have the following areas of resistance to overcome:
If these levels are overcome, we should easily be in the $9,000-$9,200 area...
I think we may be forming a H&S now. again nothing is certain but it would fit with all the previous analysis targeting 6K area. bear flag being formed as i write this. Again, whales are playing us all so TA is not worth much when whales herd us like sheep.
Good luck. We all need it.
Take a look at the 2 possible inverse H&S. a smaller one targeting $6,900 approximately which is the neck line of a larger inverse H&S targeting $7,200
As usual, these are possibilities and not certainties. We have to see if the patterns play out. The actual location of the right shoulders will play out. I only show them for illustrative...
If we want to get out of the H&S possibility, BTC needs to go above $7,132 to inspire some confidence and buying. Watch that level. A drop below The potential neckline of the H&S may send us down to between 6.6 to 6.7K.
Hopefully, this means we continue up really soon. The short term target is $7,200 as the target of the bull flag if the its really that and the flag does its thing. There has been some whale buying that brought us up here. Bulls and baby whales really need to step in here and pick it up or we are going back down to the original 5-6K target...
Very exciting day...