A large part of the community has lost hopes in crypto and this is usually the moment we could see some relief. Most analists have been saying XRP should go lower but there are some clear signs that XRP could be on the verge of another huge cycle
Reasons to believe a bull run is comming for XRP - Weekly MACD cross - Weekly bullish divergence RSI - RSI oversold for a very long time, needs relief - Dowtrendline broken after 1 year and 9 months - XRP/USDT found support on weekly orderblock (will show in updates) - XRP/USDT long stops were taken and lows were raided (will show in updates)
Every time we saw the MACD on the weekly cross, we saw a huge run for XRP/BTC. XRP finally broke the downtrendline that has been holding it down since the start of 2018, this downtrend is now broken after over 1,5 years! We can also see there is a bullish divergence on the weekly chart of XRP/BTC which only gives me more confidence in this trend switch. The RSI has never been this oversold on XRP/BTC and it has been oversold for a while which indicates there could be relief comming soon. XRP/USDT is also looking amazing (will show analysis below with chart in updates) Risk/Reward is amazing here, possible target would be the trendline resistance (red) but that is purely speculative.
IMPORTANT NOTE:
If we see daily closes on XRP/USDT below 25 cents I believe we could be heading quite a bit lower, XRP may NOT lose this support in order for this trade to work out.
Komentarz
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As promised some more detailed analysis on XRP/USDT and the reason why I think XRP has a good chance of going up from here:
- XRP/USDT found support on weekly orderblock An orderblock is the last opposite candle in the consolidation before a strong move up/down that takes out the stops. In this case the bearish candle before the bullish move is highlighted in green - XRP/USDT found support on the weekly 200 EMA - Long stops were taken (this means that stop losses were placed below previous lows, these stops have been taken as the price pushed beneath those lows). This usually happens before a move in the opposite direction occurs
Zlecenie aktywne
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Strong resistance here, we need to close above the resistance in order to really go
Komentarz
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Rejection by green zone, would be wonderful if XRP could close above the trendline today
Komentarz
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Eyeballing the 0.618/0.705 fib + confluence or horizontal zone to add to my longs, as I took most of my profits in the green zone mentioned above
Komentarz
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Nice continuation pattern on XRP/BTC
Komentarz
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pretty nice fconfluence here for a trade with a tight stop
Speaking of signals, we'd better have to wait Weekly Parabolic SAR reversal confirmation on sunday ( or a breakout of 0.00003 in the meantime ).
Parabolic SAR is *VERY* continuous hence meaningful on weekly tf, as you may notice.
Sure, on wekly MACD flipped already and Willy's is on historical low, but as long as volume stays this low the more the reversal signals the better.
Personally i'm long on margin already, but with a SL.
Good risk / reward.