XRP/BTC early signs of a Reversal on the 4H! Daily not so sure!
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XRP has been making lower lows for an extended period of time. It tried to break the cloud on the 4H a couple of times before ( purple squares ) but got rejected. Third time is a charm I guess since now it did manage to break through the cloud and R1 on the 4Hour chart.
This could be an early indication of a trend reversal, but we have to be careful since the Daily chart is telling a different story. It has only broken the Tenkan ( yellow line ) up and is still trading under the Kijun ( Dark Blue line ), the only indication we have for a possible reversal on the Daily chart is that it bounced off the S1.
XRP has been making lower lows for an extended period of time. It tried to break the cloud on the 4H a couple of times before ( purple squares ) but got rejected. Third time is a charm I guess since now it did manage to break through the cloud and R1 on the 4Hour chart.
This could be an early indication of a trend reversal, but we have to be careful since the Daily chart is telling a different story. It has only broken the Tenkan ( yellow line ) up and is still trading under the Kijun ( Dark Blue line ), the only indication we have for a possible reversal on the Daily chart is that it bounced off the S1.