Ripple (XRP) Imminent falling wedge breakout. Target 50%+ BITMEX
Updated
BITMEX:XRPH19
XRPBTC
XRPBTC
XRPUSD
XRPUSD
XRP is in imminent breakout of a short-term falling wedge.
MACD made a double bottom demonstrating the exhaustion of the selling force and has the MAs pointed upwards, very close to a cross up of 0 line.
The OBV shows a growth in the buying volume in recent days following the movement of the price.
The RSI (Not shown in the chart) is in an uptrend and recently crossed over the 50's line, making clear the bull's strength at that time.
Although the breaking of this falling wedge is not happening at high volume, it is a fairly safe entry with stop-loss below the minimum of the last 15 days.
The price has been using the MA20 as support for 48 hours and the narrow bollinger bands point to the exhaustion of sideways movement.
XRPBTCXRPBTCXRPUSDXRPUSDXRP is in imminent breakout of a short-term falling wedge.
MACD made a double bottom demonstrating the exhaustion of the selling force and has the MAs pointed upwards, very close to a cross up of 0 line.
The OBV shows a growth in the buying volume in recent days following the movement of the price.
The RSI (Not shown in the chart) is in an uptrend and recently crossed over the 50's line, making clear the bull's strength at that time.
Although the breaking of this falling wedge is not happening at high volume, it is a fairly safe entry with stop-loss below the minimum of the last 15 days.
The price has been using the MA20 as support for 48 hours and the narrow bollinger bands point to the exhaustion of sideways movement.
Trade active
#XRP (Bitmex & Bitfinex)Buy-Long: upto 8540 (bitmex price)
Leverage: 5x bitmex and 3x bitfinex
Target:
1st: 8950
2nd: 9430
SL: 8274
Trade closed: target reached
50% Closed on 1st target with 24% gain and 50% sold on breakeven.
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