Still lower, or will XRP finally move higher?
The low happened at $1.11 and the close $1.21. The higher low yesterday is $1.31 after eight days of bearish action. I think the higher low being that much higher compared to $1.11 after more than a week of lower favors the positive side. It favors a rise.
Why would the market not move any lower if it was set to continue lower? Why reverse so fast?
And if we are looking at a bearish move is still in the making, why make a stop here?
The chart is showing a lack of bearish follow-through, force, pressure and momentum. Trading volume has been dropping as prices move down.
It is still early to call on a bullish rise based on the recent move but it is not early to call for higher prices based on the broader chart.
The initial recovery from the 6-February low is being consolidated. A rise from $1.11 to $1.67 means +50%. That's a lot within days. And this is the move that is being consolidated and consolidation means the bullish bias remains.
The retrace is already 21% strong. This is all enough. Time, size and duration; we are done.
This is all to say that XRP is bullish, a rise next is favored by the chart. Short-, mid- and long-term.
›› Long-term: Bullish without a doubt, just zoom out.
›› Mid-term: We are looking at the market waves. The recent bearish wave calls for a bullish impulse or inverted correction. Both are supported by the chart mid-term.
›› Short-term: The recent crash leads to a recovery-jump 50% in size followed by a 21% retrace. We get a higher low. The chart remains bullish supporting growth.
Bullish on all time horizons—XRP.
Thanks a lot for your continued support.
Namaste.
The low happened at $1.11 and the close $1.21. The higher low yesterday is $1.31 after eight days of bearish action. I think the higher low being that much higher compared to $1.11 after more than a week of lower favors the positive side. It favors a rise.
Why would the market not move any lower if it was set to continue lower? Why reverse so fast?
And if we are looking at a bearish move is still in the making, why make a stop here?
The chart is showing a lack of bearish follow-through, force, pressure and momentum. Trading volume has been dropping as prices move down.
It is still early to call on a bullish rise based on the recent move but it is not early to call for higher prices based on the broader chart.
The initial recovery from the 6-February low is being consolidated. A rise from $1.11 to $1.67 means +50%. That's a lot within days. And this is the move that is being consolidated and consolidation means the bullish bias remains.
The retrace is already 21% strong. This is all enough. Time, size and duration; we are done.
This is all to say that XRP is bullish, a rise next is favored by the chart. Short-, mid- and long-term.
›› Long-term: Bullish without a doubt, just zoom out.
›› Mid-term: We are looking at the market waves. The recent bearish wave calls for a bullish impulse or inverted correction. Both are supported by the chart mid-term.
›› Short-term: The recent crash leads to a recovery-jump 50% in size followed by a 21% retrace. We get a higher low. The chart remains bullish supporting growth.
Bullish on all time horizons—XRP.
Thanks a lot for your continued support.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.