I was ready to pump ripple but first we have to protect us from a dump.
Here almost the whole Story of ripple against BTC.
The overall trend is positive. Short pump are followed by long corrective phases.
Something has changed since september and Ripple is now "slowly" growing against bitcoin.
I base my analysis just on 3 structures:
The dotted line is a sideway support/resistance.
The red bar is an horizontal resistance at 11 satoshis and the green bar is the ATH.
The dotted line, or maybe we should speak of the true trend of xrp, act sometimes as propulsive support and when broken ont he upside opened to nice bull runs.
The break down was followed by slow but relevant downside mouvements.
The Red bar at 11 satoshis never offered support to ripple and when it acted as resistance opened to long bearish phases.
At 14 Satoshis there is another resistance but for this trade-project is relevant only for the bullish Scenario.
Now.
Ripple si moving probably in a structure that is between an ascending triangle (potential bullish) and an ascending wedge (potential bearish). Both can be broken on the downside or on the upside so I don't care too much about it
What is relevant is that we are under the dotted line, which is now acting as resistance and we are approching another resistive zone.
Moreover ripple is ascending in descending volume and descending RSI. Potentially all bearish signs.
So I consider now as risky to hold ripple and bitcoin should be preferred as safe heaven.
I will change idea if I see a break out of 11 Satoshi. The pull back with support of the 11 Satoshis will Project ripple at ATH again
BIO
Here almost the whole Story of ripple against BTC.
The overall trend is positive. Short pump are followed by long corrective phases.
Something has changed since september and Ripple is now "slowly" growing against bitcoin.
I base my analysis just on 3 structures:
The dotted line is a sideway support/resistance.
The red bar is an horizontal resistance at 11 satoshis and the green bar is the ATH.
The dotted line, or maybe we should speak of the true trend of xrp, act sometimes as propulsive support and when broken ont he upside opened to nice bull runs.
The break down was followed by slow but relevant downside mouvements.
The Red bar at 11 satoshis never offered support to ripple and when it acted as resistance opened to long bearish phases.
At 14 Satoshis there is another resistance but for this trade-project is relevant only for the bullish Scenario.
Now.
Ripple si moving probably in a structure that is between an ascending triangle (potential bullish) and an ascending wedge (potential bearish). Both can be broken on the downside or on the upside so I don't care too much about it
What is relevant is that we are under the dotted line, which is now acting as resistance and we are approching another resistive zone.
Moreover ripple is ascending in descending volume and descending RSI. Potentially all bearish signs.
So I consider now as risky to hold ripple and bitcoin should be preferred as safe heaven.
I will change idea if I see a break out of 11 Satoshi. The pull back with support of the 11 Satoshis will Project ripple at ATH again
BIO
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน