Hi guys
Another update on another coin. This time it is XRPBTC.
You are looking at the daily chart of Bittrex. FYI: I used Bittrex because it has more historical data in comparison with Binance! The chart tells us a couple of things:
- XRPBTC is in a nasty downtrend, which started in dec. 2017;
- It failed to break the resistance (red line);
- It just broke through a very important support level (around 6800sats) and XRPBTC is dropping now.
- The next support could be at .786 fib level, which is around 5800-6000 sats. This could be a zone for accumulation again.
- RSI is hugely oversold.
- MACD is crossing down again, which is bad!
I am not setting up a position now. I am watching XRP closely because the fundamentals are good and it dropped like a rock since dec 2017. Therefore, the gains can be enormous again!
Another update on another coin. This time it is XRPBTC.
You are looking at the daily chart of Bittrex. FYI: I used Bittrex because it has more historical data in comparison with Binance! The chart tells us a couple of things:
- XRPBTC is in a nasty downtrend, which started in dec. 2017;
- It failed to break the resistance (red line);
- It just broke through a very important support level (around 6800sats) and XRPBTC is dropping now.
- The next support could be at .786 fib level, which is around 5800-6000 sats. This could be a zone for accumulation again.
- RSI is hugely oversold.
- MACD is crossing down again, which is bad!
I am not setting up a position now. I am watching XRP closely because the fundamentals are good and it dropped like a rock since dec 2017. Therefore, the gains can be enormous again!