I have just spotted a price divergence in the hourly chart, DMI and MACD confirm trend reversal, however, for extra confirmation, you may wait for the price to break trough the Ichimoku Cloud towards next resistance level (2800)
XRPUSD just broke Keltner upper channel and resistance uptrend, with DMI and MACD (not shown) both positive towards this trade. RSI and Stoch (not shown) showing overbought signs. Tight stop-loss most be placed for the next hour, then wait for price to cross Keltner middle line
As observed in my previous post, ETCUSD pair did not gain momentum for a reversal, only decelerated (IMO) by the upcoming ether trading introduction in China.
MA20 just crossed under MA50. RSI and Stochastic (not shown) are heading south with still plenty of room to decline,
However, price excursioned Keltner Channel bottom line, and has maintained there for...
REPUSD pair is on a downtrend along with ETHUSD, but with conditions in favor of range trading.
Right now, RSI and Stochastic overbought and ADX in range trading zone.
Bottom Bollinger Band (not shown) touching price, and bottom Keltner Channel (not shown) 4$ above price.
Stop under major resistance for a Risk/Reward of 1.75
Is interesting to see how LTCUSD found support while BTCUSD dropped today. Also a rising triangle pattern was formed for LTCUSD in the 4hours chart. Will it hold the continuation of the bearish BTCUSD market?
RSI in the graph stands for the BTCUSD pair.
It seems tome that there is not enough Risk/Reward to trade ETC, unless a clear reversal against resistance. ETC follows behavior of ETHUSD and BTCUSD so BTCUSD trends could lead to magnified profit (30%) or loss (-65%) for mid-term holders.
Descending triangle pattern about to close, it will be likely a downward continuation, however a reversal can occur suitable if holding FIAT.
Reversal can be confirmed by MACD, MA20/MA50 crossover and 2 bars closing above resistance (302USD). Check RSI as well.