XRPLong
A short term bull market approaches
Hey Guys,
I have been doing a lot of studying lately on new resources regarding TA and have decided to finally share my thoughts on what I think may happen.
Based on the chart I have presented, XRP is bouncing between the thick dark black resistance line and the thick pink support line. Ripple had tried to break through the resistant line but had failed on two earlier attempts. The sellers are really trying their best to keep the prices down however, in the 1hour chart, it seems that they are about to run out of steam. However, based on the candle stick pattern highlighted in the 4hr time frame, a shooting star and a doji have formed indicating that there is still a little bit of a drop left in the price. Be ready to jump in for a short term high as it might break though the pink support line just to test the 1.14 price once again.
As for the long term traders, the candles are still below the 200 MA and for a proper trend to develop, it would be safer to wait for the candle sticks to go above the MA.
With that said, I would love for your inpput.
I have been doing a lot of studying lately on new resources regarding TA and have decided to finally share my thoughts on what I think may happen.
Based on the chart I have presented, XRP is bouncing between the thick dark black resistance line and the thick pink support line. Ripple had tried to break through the resistant line but had failed on two earlier attempts. The sellers are really trying their best to keep the prices down however, in the 1hour chart, it seems that they are about to run out of steam. However, based on the candle stick pattern highlighted in the 4hr time frame, a shooting star and a doji have formed indicating that there is still a little bit of a drop left in the price. Be ready to jump in for a short term high as it might break though the pink support line just to test the 1.14 price once again.
As for the long term traders, the candles are still below the 200 MA and for a proper trend to develop, it would be safer to wait for the candle sticks to go above the MA.
With that said, I would love for your inpput.
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