The big drop yesterday produced a new test of the Cloud from which
the pair bounced like a hand on a hot plate. Ichimoku is widely used in
Asia, and confident big buyers along with some parts ofthe crowd, had their
buy orders placed sat to sat with the upper Cloud, despite the bundle of untraded
pivots just below. The current hourly chart of the XRP/USD is looking
heavy but if one likes to swap to BTC, using this particular timeframe, Ripple
is still bullish the bitcoin. Only if price close below the upper Cloud, things
will change and trend will turn neutral, with a likely return to the previous
spike low and possibly the lower Cloud and the untouched pivots. But just by
looking at the current bounce from the Cloud, the advance is hesitant. Ripple
Bulls would like to see a strong candle closing above the white Kijun Sen line
to shake off yesterdays plunge.
Overall, price made a sharp correction to test the Cloud, found support and
is now slowly advancing higher even though the previous candle close was a
shooting star type of candle, showing seller strength towards the Kijun Sen.
the pair bounced like a hand on a hot plate. Ichimoku is widely used in
Asia, and confident big buyers along with some parts ofthe crowd, had their
buy orders placed sat to sat with the upper Cloud, despite the bundle of untraded
pivots just below. The current hourly chart of the XRP/USD is looking
heavy but if one likes to swap to BTC, using this particular timeframe, Ripple
is still bullish the bitcoin. Only if price close below the upper Cloud, things
will change and trend will turn neutral, with a likely return to the previous
spike low and possibly the lower Cloud and the untouched pivots. But just by
looking at the current bounce from the Cloud, the advance is hesitant. Ripple
Bulls would like to see a strong candle closing above the white Kijun Sen line
to shake off yesterdays plunge.
Overall, price made a sharp correction to test the Cloud, found support and
is now slowly advancing higher even though the previous candle close was a
shooting star type of candle, showing seller strength towards the Kijun Sen.