jumpinbunny
Short

XRP Possibly Upcoming Head & Shoulders

BITTREX:XRPBTC   Ripple / Bitcoin
1. Possible Head & Shoulders
2. 3MA Contraction (1H-) likely bearish reversal,
Bollinger contraction (2H-) preparing for shoulder expansion
3. RSI/Stoch/+, Neutral (2H-) > Uptrend (4H) > Extremely Overbought (Daily)
4. MACD downtrend and Bullish crossover for shoulder, signal & zero line cross (4H-),
Large reversal and coming crossover (1D)
5. 2 Bearish Green cloud passes (prep for 3rd), Bullish into Red cloud for Shoulder, supported by 4H cloud.
Cloud support (1D) at bottom of right shoulder

A H&S formation seems to be appearing, signalling a new downtrend:
-Completely over extended away from moving average support (1D), Contraction and reversal crossover (1H-) signalling strong downtrend.
-Strong Bollinger band contraction on (2H-) for the right shoulder expansion.
-Extremely overbought on RSI/Stoch/Both (1D) signalling huge longterm selloff. https://i.imgur.com/sauPMh7.png
Mixed signals on 4H- trends, possibility for downward or upward movement before/into shoulder.
-Large MACD bearish reversal and crossover for Daily trend reversal, 4H- bullish reversal for shoulder.
Overall downtrend in trends.
-2 Bearish green cloud passes likely preparing for third and final pass.
Intermediate Red cloud pass is likely, bullish for the shoulder, right into green 4H cloud.
Daily cloud support at the bottom of H&S retracement.
-Volume compression preparing for bullish move into selloff

~20K shoulder resistance, down to ~15k neckline support/resistance .


*(4H-) means anything on the 4 Hour or lower (4H, 3H, 30min, etc.) time frame.
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