Ripple (XRP/BTC) - Difficult for bull run right now
Updated
Hi every one, XRP are in short term downtrend at right now.
We will consider some criteria in below:
First is 3 WMA : WMA 14 ; WMA 49 and WMA 105. Why is WMA ? Because WMA also declare about volume of XRP.
When WMA 14 cross down WMA 49 (short term line crossed below middle term line ) show for us the downtrend just occur in short term
When WMA 14 cross down WMA 105 ( short term line crossed below long term line ) show for us the downtrend will happen in middle term
And finally in recent time we see WMA 49 cross down WMA 105 ( middle term line crossed below long term line ) declare a downtrend will happen in long term.
And the horizontal line built by the point which is crossed by WMA 49 and WMA 105 will be the very strong resistance for XRP in next time.
Look at the Ichimoku Cloud we can clearly see the resistance zone is big.
XRP is in downtrend parallel channel and building Bearish Flag pattern right now.
DMI 4c has higher red column and ADX over 20 reveal the Bear is stronger than Bull right now.
RSI also in downtrend pattern and it is not break up so we are continuing in downtrend for next time.
MACD show uptrend in short term but we are totally in strong downtrend.
Conclusion : In next time I think Ripple need correction down before next bull run, it is difficult for XRP has another bull run without more correction.
We will consider some criteria in below:
First is 3 WMA : WMA 14 ; WMA 49 and WMA 105. Why is WMA ? Because WMA also declare about volume of XRP.
When WMA 14 cross down WMA 49 (short term line crossed below middle term line ) show for us the downtrend just occur in short term
When WMA 14 cross down WMA 105 ( short term line crossed below long term line ) show for us the downtrend will happen in middle term
And finally in recent time we see WMA 49 cross down WMA 105 ( middle term line crossed below long term line ) declare a downtrend will happen in long term.
And the horizontal line built by the point which is crossed by WMA 49 and WMA 105 will be the very strong resistance for XRP in next time.
Look at the Ichimoku Cloud we can clearly see the resistance zone is big.
XRP is in downtrend parallel channel and building Bearish Flag pattern right now.
DMI 4c has higher red column and ADX over 20 reveal the Bear is stronger than Bull right now.
RSI also in downtrend pattern and it is not break up so we are continuing in downtrend for next time.
MACD show uptrend in short term but we are totally in strong downtrend.
Conclusion : In next time I think Ripple need correction down before next bull run, it is difficult for XRP has another bull run without more correction.
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