XRP / BitcoinUpdated XRP cycle looking very similar, run to 2 dollar? see updates
Hugely speculative but cycle is looking very similar to previous cycle. We can see alot of resemblance in the cycles:
- If we can keep up this price, the 50 EMA will cross aboven 200 EMA (golden cross).
- The daily MACD is looking very similar to previous cycle and also about to cross bullish if the price can keep up.
- Both cycles have lasted exactly the same time (see updates below)
- Trend bounced on the 0.705 fib (OTE) after both initial runs (link for OTE: youtube.com/watch?v=Cg0-CFJOJvg&t=2268s )
If we follow the exact same fibonacci extension as last cycle we would reach around 30750 sats which would be approx 2 dollar at the current BTC price.
If we break up from this consolidation area I will be looking to add to my long position for a longer term trade.
If we break lower from this consolidation area I will be looking to short into the 0.35-0.37 dollar area.
- If we can keep up this price, the 50 EMA will cross aboven 200 EMA (golden cross).
- The daily MACD is looking very similar to previous cycle and also about to cross bullish if the price can keep up.
- Both cycles have lasted exactly the same time (see updates below)
- Trend bounced on the 0.705 fib (OTE) after both initial runs (link for OTE: youtube.com/watch?v=Cg0-CFJOJvg&t=2268s )
If we follow the exact same fibonacci extension as last cycle we would reach around 30750 sats which would be approx 2 dollar at the current BTC price.
If we break up from this consolidation area I will be looking to add to my long position for a longer term trade.
If we break lower from this consolidation area I will be looking to short into the 0.35-0.37 dollar area.
Note
Both cycles lasted approx 281 days Note
A pennant-like structure forming but it is a very choppy area.As highlighted with the circles, 50/200 EMA cross and daily MACD cross very near
Note
Note
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
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If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
Disclaimer
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My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.