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XRP Daily - XRP overtakes ETH AGAIN. Is BTC Next???Hi all, Ripple (XRP) has seen a technical bounce off the oversold RSI with a 12% surge at time of writing. This successful turn of events has led XRP to be the #2 largest cryptocurrency by market cap...AGAIN. Is this just a technical short term bounce or is there some larger at play here fundamentally? Let's see what the chart says: -First you can see XRP has been trading inside a descending triangle pattern since Sept 20th marking Lower Highs with support located at .28 confirmed with two touches. -We can see the 50 Day SMA (Orange trend line) is resting flat at (.335) and has been acting as a resistance since Nov 20th. If XRP can scale above this that would be a bullish indicator. But the work isn't over there. For a bull trend to be full intact and a bottom confirmed we need to see XRP scale above it's 200 Day SMA which is located .389. -Below 28 cents and the crypto looks extremely bearish. XRP is one of those tokens that pumped from April 2017 (around 2 cents exploding to 40 cents trading sideways for a few months and then jumped to $3.30 at the height in Jan 2018). -Trying to locate solid supports for XRP is difficult because of it's short history coupled with the orders of magnitude price pump it experienced. -XRP bounced off the oversold RSI -Stochastic also confirmed buy signal Trade plan: Bulls: Aggressive buy order can be placed if XRP scales above it's 50 day SMA. Stop Loss entry should be entered at .25. Make sure to adjust trade allocation size so that no more than 2% capital loss would incur if your stop get's triggered. Bears: Short entry can be executed just below the Bulls stop loss. This trade will need to be hand held because we don't really know what historical supports can be counted on in case Bitcoin were to capitulate. Fundamental News: - High profile hire announced today to Ripples General Counsel team -Swift is apparently launching a test among 110 out of 11,000 banking relationships to test R3 (Corda) DLT for cross boarder remittence business. This opens the bridge to Ripples DLT and XRP to be leveraged as XRP will act as the primary settlement transaction for these cross boarder remittences. This is still very early news and details will be forthcoming. Food for thought: -Could Ripple and XRP end this crypto winter with real adoption from the global banking network? -Will XRP surpass Bitcoin in the future? -Will XRP be the first crypto to decouple from Bitcoin? One things is for certain, there is never a dull moment in this market. Trade safe. Be well, Bobby
BITSTAMP:XRPUSD
by UnknownUnicorn1615160
1
BTCUSD 4H Head and ShoulersSeems to all I've been calling recently (particularly for BTC), but it seems to be the gift that keeps on giving. BTCUSD 4 hour is showing a head and shoulders which would imply a proceeding bearish reversal. To compliment this we can also see our 9 MA is about to fall past the 26 MA which means current price is breaking down. I would expect BTC to hit the pink line on the 1.618 fib to complete the final shoulder before we see any strong bearish movement. To trade a head and shoulders correctly, you should ideally set your entry at the neckline to be safe and assure that this analysis is correct. Like wise take profit should be roughly the distance between the neckline and the head to complete the head and shoulders pattern (Although I would look at historical support for a more exact number).
BITFINEX:BTCUSDShort
by bobbysto18
Potential Long Opportunity. Having a look at the dollar index. We are within a bullish channel for a few weeks now, after breaking out of the inverse head and shoulder pattern. Looks to be last week DXY started loosing traction. and fell to a near strong support zone as a parallel bullish channel trend. I am under the suspicion that fundamentals will be the driving reason behind dollars next move. I am favoring the reversal so far. Fundamentals- this week to be released related to the interest of the dollar are: Consumer price index. It has been mentioned that we may not be expecting what investors would want to see. This may not be what the market is looking to be told. Meaning the market might be looking for the interest rate hike possibility. Or interest. So this fundamental could be completely ignored. Tuesday- PPI data release after Chair of Federal Reserve Speaks at a conference. Thursday- Unemployment Claim Numbers. Friday- Building plans Data. Technical- History on the 4hr chart shows the bullish rejection along illustrated parallel trend line. Stoich RSI shows a near bottoming insight. Now i would still watch to see if this zone holds. Bullish dollar is still considerably note worthy. Daily Chart- Shows a retest of the neckline for the Previous head and shoulders break. These technicals usually suggest a setup for bullish momentum.
TVC:DXYLong
by TiltonKy
Bitcoin Cash Finally BREAKING OUT?AS noted in my previous post, this MONSTER consolidation pattern, aka descending triangle, has been ranging for 10 days now, since that insane run from 300 to 800 in 3 days. This monster looks primed to break out again. And this is an easy one if it gets going with some good volume. Breakout: Around 630/650, breaking out of downtrend line of consolidation pattern STOP: below 585, support lows of consolidation Target 1: 800 (61.8% Fib retracement of Aug 17 - 27 decline) Target 2: 900 (old high range) Good luck! ----------------- !! PM me with any questions about my analysis !! MY TRADING METHOD: I keep my analysis simple. Good analysis always is. I use Price Patterns, Moving Averages, and RSI for my analysis. I use the 1 day for trend analysis and 60 minute for trade entry For my Targets I use Fibonacci projections + measured moves Successful trading means proper risk sizing and trading small so you can stay in the game.
BLong
by BerlinTrader591
6