I'm incredibly bullish on XRP long term as I've stated multiple times since July '17. I think this up move takes us to $1.58-$1.61 at some point in the near future, but honestly, I'm a little concerned with the lack of heavy VOLUME on this move SO FAR. I mean, don't get me wrong, today was good, but not great. We need great to go HIGHER.
Dear Korea,
Step UP. LOL.
No seriously, there is a bit of downward pressure being applied by the 200 period EMA at $1.1266 on the 4HR chart and we are just under the 50 EMA on the daily. That said, the good news is we've got UPWARD SLOPING 9SMA, 30SMA, 50, EMA & 90EMA just below us as support, so it isn't a bad time to enter with a stop below $0.97. Once we cross the 200 it's pretty clear sailing for the BULLS all the way to $1.61.
RSI > 50 = CHECK
MACD BULLISH ABOVE 0 = CHECK
STOCH = MEH could pullback a bit
VOLUME = C'mon MAN!
The bulls are coming, crypto isn't dead, the trend is your friend, institutions are sniffing around, and it looks like the DOWNTREND IS ENDING. Let's see!
Dear Korea,
Step UP. LOL.
No seriously, there is a bit of downward pressure being applied by the 200 period EMA at $1.1266 on the 4HR chart and we are just under the 50 EMA on the daily. That said, the good news is we've got UPWARD SLOPING 9SMA, 30SMA, 50, EMA & 90EMA just below us as support, so it isn't a bad time to enter with a stop below $0.97. Once we cross the 200 it's pretty clear sailing for the BULLS all the way to $1.61.
RSI > 50 = CHECK
MACD BULLISH ABOVE 0 = CHECK
STOCH = MEH could pullback a bit
VOLUME = C'mon MAN!
The bulls are coming, crypto isn't dead, the trend is your friend, institutions are sniffing around, and it looks like the DOWNTREND IS ENDING. Let's see!
Commentaire:
Hey, THERE'S some VOLUME! $1.31 & $1.61 in play! Let'e see it this 4hr candle can close above the 200EMA & 200SMA. If so, we're going FULL BULL for a while.
Commentaire:
We still need some volume to come in. Feeling like we are entering into a Stage 1 type accumulation phase. Shorts on Bitfinex jumped by as much as 25% today and price barely moved, seems to have pretty strong support in this $0.85 area and sellers look to be running out of gas. Let's see.
I think the play is to be patient and not overtrade this.