XRPUSD - Breakout and upward continuation likely
Updated
-Price is trending up.
-Triangle formed (shown in green) and price may be breaking out of it to the upside (watch for strong daily candle close with some volume behind it).
-Hidden Bullish Divergence showed up on RVGI and RSI.
-Stochastic RSI looks ready to head back up.
-Note: The 1.618 fib level (not shown) is around $1.75.
Potential barriers:
-If BTCUSD or ETHUSD sell off, this could affect XRP/USD.
-It seems we often don't get a re-test on breakouts, so missing a big, fast move is possible.
-There's local resistance around the $1.30 to $1.35 zone that price needs to overcome, in order to reach the $1.60 resistance zone.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
-Triangle formed (shown in green) and price may be breaking out of it to the upside (watch for strong daily candle close with some volume behind it).
-Hidden Bullish Divergence showed up on RVGI and RSI.
-Stochastic RSI looks ready to head back up.
-Note: The 1.618 fib level (not shown) is around $1.75.
Potential barriers:
-If BTCUSD or ETHUSD sell off, this could affect XRP/USD.
-It seems we often don't get a re-test on breakouts, so missing a big, fast move is possible.
-There's local resistance around the $1.30 to $1.35 zone that price needs to overcome, in order to reach the $1.60 resistance zone.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
Note
Breakout but failed on the re-test.
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