XRP/BitcoinGiá lên
XRP/BTC - Ripple Chart Nobody Is Seeing Right Now
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Today we will look at this trading pair on the weekly timeframe which shows us an extremely bullish opportunity in front of us. For the purpose of this TA we will be using a line break candles. These candles reduce noise and give us a clear direction of the trend. More about this trading technique you can read at the following url: school.stockcharts.com/doku.php?id=chart_analysis:three_line_break
On the weekly chart, we can notice two consecutive green candles which are very bullish signs for further price development. If history repeats itself we can expect more than 400% gain from the current price. We just need to wait and see what will be happening. I believe that I don't need to talk so much about this chart. With this chart, I would only like to demonstrate to you a big picture of our game plan which we will follow.
For a clearer picture of what's happening right now let's move on the lower timeframe.
Daily Timeframe:
Yesterday we mentioned that retracement would be finished at 3295 sats and exactly this has happened. Today we're up for 9% from our entry price and yesterday's daily candle closes above the major resistance line at 3365 sats. This is a very bullish sign.
Above the current candles, we have the upper trend line of the pattern we're in. This is the rising wedge which usually represents bearish pattern with the continuation of the price action. But .... we need to say that so far we only have 2 touches of this trend line and there is a great probability that this trend line would be broken. If this would be the case we will be facing another resistance at 2000 Moving Average which is at 4083 sats price level. This price level is another short term target. If we go beyond this price level, the parabolic bull run is expected.
So far we have 2 very short term targets, where the price can "swing".
Target1: 3589
Target2: 4083
Retracement:
Everything above 3430 sats is ok. In the next few hours, we're expecting a little retrace. Nothing serious, but we always need to have an eye on BTC. If BTC for some reason will go parabolic in one or other direction this will have an impact on the price of alts.
Today we will look at this trading pair on the weekly timeframe which shows us an extremely bullish opportunity in front of us. For the purpose of this TA we will be using a line break candles. These candles reduce noise and give us a clear direction of the trend. More about this trading technique you can read at the following url: school.stockcharts.com/doku.php?id=chart_analysis:three_line_break
On the weekly chart, we can notice two consecutive green candles which are very bullish signs for further price development. If history repeats itself we can expect more than 400% gain from the current price. We just need to wait and see what will be happening. I believe that I don't need to talk so much about this chart. With this chart, I would only like to demonstrate to you a big picture of our game plan which we will follow.
For a clearer picture of what's happening right now let's move on the lower timeframe.
Daily Timeframe:
Yesterday we mentioned that retracement would be finished at 3295 sats and exactly this has happened. Today we're up for 9% from our entry price and yesterday's daily candle closes above the major resistance line at 3365 sats. This is a very bullish sign.
Above the current candles, we have the upper trend line of the pattern we're in. This is the rising wedge which usually represents bearish pattern with the continuation of the price action. But .... we need to say that so far we only have 2 touches of this trend line and there is a great probability that this trend line would be broken. If this would be the case we will be facing another resistance at 2000 Moving Average which is at 4083 sats price level. This price level is another short term target. If we go beyond this price level, the parabolic bull run is expected.
So far we have 2 very short term targets, where the price can "swing".
Target1: 3589
Target2: 4083
Retracement:
Everything above 3430 sats is ok. In the next few hours, we're expecting a little retrace. Nothing serious, but we always need to have an eye on BTC. If BTC for some reason will go parabolic in one or other direction this will have an impact on the price of alts.
Ghi chú
Very short price action:Ghi chú
Very short price action plays out axactly as expected.Target reached :-)
I’ll do a folow up within a few hours
Ghi chú
This post have an update :-)
Ghi chú
Ripple exceeded 3544 sats during the night but didn't stay above that price level.The picture is unclear at the moment and many things can happen.
On the one side, we recorded lower high and if it fals below 3464 sats we will record a lower low, which can lead us to 3412 sats or even lower.
On the other side, at the hourly timeframe, xrp drew higher high and higher low and the price is currently rising.
The moment of truth will come soon and if the current rise exceeds 3544 sats price level, another higher high can emerge. If it's rejected at this price level and fals below 3500 sats, then further drop is expected towards the 3412 sats price level.
3412 sats is the first serious support line. The next one is at around 3300 sats.
Pay attention to:
-3544 sats - if exceeds this value the rise will continue
-3500 sats - if it falls below this level the drop will continue
Ghi chú
XRP still did not draw the higher high. Now we have a double top, which is not the good sign. If it falls below 3500 sats and stays there, it can then fall to 3412 - 3300 sats.if this would be a case I will close my position and enter the market again at 3412 or 3300 sats.Be careful
Ghi chú
Price action looks exactly the same as it was 2 weeks ago. Probability to reach 3412 and then 3300 sats are now increasing. We still need a higher high which was at 3585 sats
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