XRP THURSDAY UPDATE 9.26.19: BULLISH CASE
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If we take a look at the 1H chart, price could be forming a rising channel and/or bear flag formation. Of course these channels could always break up!
15 minute chart we see XRP formed a bear pendant after the drop and still broke up. Afterwards a rising channel formed and we are currently at the end, possibly looking to break up just under $0.25.
1D chart we see RSI printed a higher low thus far with the lower low in price. After reaching the bottom XRP is nearly 6% away from making its 20% retrace like the last drop. MACD is potentially giving us a double bottom scenario and it is technically a bullish divergence - class B - as long as we don't make any more lows.
4H chart rising support over a flat resistance. Volume is coming down, we will need to see positive momentum picking up to the moves mapped out here.
I Hope You Are All doing well!
Thank you for checking out my analysis!
If we take a look at the 1H chart, price could be forming a rising channel and/or bear flag formation. Of course these channels could always break up!
15 minute chart we see XRP formed a bear pendant after the drop and still broke up. Afterwards a rising channel formed and we are currently at the end, possibly looking to break up just under $0.25.
1D chart we see RSI printed a higher low thus far with the lower low in price. After reaching the bottom XRP is nearly 6% away from making its 20% retrace like the last drop. MACD is potentially giving us a double bottom scenario and it is technically a bullish divergence - class B - as long as we don't make any more lows.
4H chart rising support over a flat resistance. Volume is coming down, we will need to see positive momentum picking up to the moves mapped out here.
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extending the bottom support, , we could see another drop be held up by $.018. This would be the absolute last point for a bullish scenario.
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Does XRP need another low? Or will BTC's Potential Bullish Divergence be enough to say no?
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