bilo2000

XRP IN AN UPWARD TREND

BITFINEX:XRPUSD   Ripple / Dollar
AFTER BREAKING ABOVE THE LONG TERM DOWNTREND, WE CAN CLEARLY SEE A MODEST UPWARDS CHANNEL TREND THAT COULD HAVE BEEN INTERPRETED AS A SMALL HEAD AND NECK PATTERN BUT SEEMS NOT TO BE THE CASE NOW. I THINK ITS IMPORTANT TO LOOK AT A SHORT TIME SCALE NOW (THE 15 MINUTE CHART IN THIS CASE) AS EVERYONE LOOKING AT XRP RIGHT NOW KNOWS ITS AT CRITICAL LEVELS AND REACTIONS UP OR DOWN MAY HAVE EXCEEDINGLY FAST MOMENTUM SO SHORT TERM WAVE FORMATIONS CAN BE VERY TELLING.

ON THE BULLSIDE, WE HAVE A NICE DOUBLE BOTTOM MACD THAT SEEMS TO ABOUT TURN POSITIVE. RSI IS A LITTLE CONFUSING HOWEVER AS IT IS HEADING HIGHER SO ITS STILL CRITICAL TO WATCH CLOSELY.

OVERALL I REMAIN BULLISH AND LONG ON XRP.

GOOD LUCK!
Kommentar: THAT WORKED OUT NICE!
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