Ripple Breaking Daily Inside Bars + Bitcoin Analysis
Updated
Hello my dear Ripple (XRP) traders, hope you're doing well!
Ripple has just broken its multiple day inside bars, which are always an equilibrium on the smaller time frame like 4H. With that, we have right now reached the previous resistance from last week at 60 cents, and it's normal to see some reaction from the bears here. If you got triggered in with the break of the 4H equilibrium, awesome! Now you can wait & see, if we can get any follow through.
XRP is even stronger in the direct correlation to Bitcoin, reaching .9 previous resistance (without nills): Very similar picture to the USD consolidation.
This begs the question, what is grandpa Bitcoin doing? => Here we're still in this daily bear flag, which is getting more critical by the day. It is hard to imagine, that a bear break with Bitcoin at 6.000 wouldn't have any effect on Ripple. A bull break on the other hand, would fuel Ripple's growth even more.
Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up, because the video gets shown to other people then. Make also sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Ripple has just broken its multiple day inside bars, which are always an equilibrium on the smaller time frame like 4H. With that, we have right now reached the previous resistance from last week at 60 cents, and it's normal to see some reaction from the bears here. If you got triggered in with the break of the 4H equilibrium, awesome! Now you can wait & see, if we can get any follow through.
XRP is even stronger in the direct correlation to Bitcoin, reaching .9 previous resistance (without nills): Very similar picture to the USD consolidation.
This begs the question, what is grandpa Bitcoin doing? => Here we're still in this daily bear flag, which is getting more critical by the day. It is hard to imagine, that a bear break with Bitcoin at 6.000 wouldn't have any effect on Ripple. A bull break on the other hand, would fuel Ripple's growth even more.
Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up, because the video gets shown to other people then. Make also sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Note
Quick update on the move: The 60 cent resistance mentioned in the video seems to be an important hurdle: We didn't even manage to test it again, not to mention the previous highs at 0.628. Instead we saw an immediate profit-taking (including myself partially) before we reached 60 cents: So both the bulls & bears are aware of that hurdle now.But is the move completely lost? No, we're still definitely upholding the break-out zone of 0.552: Just look at how many green candles it took us to get above, and how many red candles it takes us to get down again! ;) So should we lose the 55 cent definitely, I'll have no problem closing the rest of my position.
But definitely beware of getting back into the equilibrium zone underneath 55 cents: That would be a red flag, esp. if we lose previous higher lows at 0.5245: That would a) negate the bull break, and b) highly increase the chances of a bear break to the previous lows on the 4H.
I'll be at a conference the next 3 days, so won't be live trading myself. I wish you a good trading!
And one last thing: Thank you so much for your support. I can definitely see, that the majority of my followers here are people with a decent character & logical sense, who are willing to learn & take responsibility for their actions. If you wanna understand what I mean, look at the comments section. This is right way guys, keep learning & you'll rock it! Happy to have you guys as my viewers! :)
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