It's just a little idea!
We founded a H&S and broke out. Then a bull flag has formed and even with this two pattern we are not able to break resistance.
I'm still extremely bearish. The resistance is only a small consolidation + the one on the breakout UP a few months ago. But still... I see weakness overall. But we will see how this develops over time.
XRP is one of the most hated coin around the space. After 2 years of down movement, we finally came to point which is worth looking.
On higher timeframes we are at the trendline and trying to break it. Now things are getting interesting.
A closer look at the 4h shows, that XRPBTC is currently building heavy support here. No matter what Bitcoin is doing, XRP...
After a little relief rally on Bitcoin, we reached prev. support which should act now as resistance. Not only we reached resistance, but we also wicked out just some $ on XBTUSD. This can be seen all over crypto. Look at the EOS chart I linked.
Looking for shorts here and maybe shorts all up to 7400. I don't think this selloff ends like this.
We also have...
EOSBTC broke out of the triangle some days ago. We get a wick up just some sats above prev. resistance and took many stop losses (yellow circle).
After that start testing the trendline and got a daily close under the trendline. But we reclaimed it and it looks like we are closing above it which leads to a very bullish signal here.
Also we are forming higher...
Found a little bit of support in the middle of support and resistance.
We think on the next try to break the 0.327 line we will break it.
So we are looking maybe for some longs soon.
Also the daily up channel is holding + we are IN the daily Ichimoku Cloud:
After losing the important 166.75 line we took a short there also and are now in profit. We moved our stop loss to entry so we have a secured trade there.
We reached now heavy support
Oversold on all timeframes (weekly not)
Maybe we are able to bounce here.
Depends what BTC is doing at this level.
Bitcoin lost the most important trendline (orange) on his bull trend. But this is not the end. We fell into support (Old Resistance and VPVR).
We also are forming a channel here which holding us right now.
A closer look at the 4h shows already bullish divergence. (RSI). We are oversold on nearly every timeframe (weekly not). So a bounce can happen anytime. But...