we seem to be stuck in the downwards Channel, just like BTC was
now it looks like XRP has been traded on bullish divergence since RSI channels upwards yet XRP channels downwards
momentums close to 0
first we need to break through the channel
right now price is supported by daily 50SMA
next stop will be daily 200SMA so we re looking for an approx. 30% increase in...
BTC on weekly 50SMA
BTC is on the important Fibonacci 0.618 level
RSI under 50
we might see a huge move by bitcoin soon. either we dump down to the weekly 200 SMA which i dont believe since 50 sma and 0.618 Fibonacci seem to support strongly or we bounce up to the 0.5 or 0.382 Fibonacci Level
When i think back to February 2019, we saw LTC as a leading indicator for the crypto market.
Back then LTC formed a Golden Cross on 4hr-timeframe, due to botactivity but ultimatley, who cares?
RSI, Momentum and the moving averages seem to behave just like in February 2019.
IF we see bots/algos/whales push LTC in a way that a golden cross will form on 4hr...
XRP went downwards since July.
XRP and its SMA's behaved similary from July to September '19.
XRP going sideways for the last 2 weeks.
Major support at 0.15$.
50 SMA still under 200SMA.
Momentum at approx. 0.
RSI at around 40 and lower on larger timeframes.
So for the short timeframe i see XRP at around 0.21$ or even 0.25$ (within a week or 10 days) like it did...
XRP BTC highly correlated as everyone knows
2017 highs: BTC: 14.000$-19.000$, XRP: 2$-3$
current levels: BTC: 7200$, XRP: 0.19$
losses since 2017 highs: BTC: 50%-70%, XRP: ~90%
XRP has a rocksolid support at 0.15$ <=> 0.000025 BTC by now
everytime we shift into being oversold on the RSI and also move towards that support we see a...