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Weekly
Looking at our trend timeframe we see price continuing to respect out uptrend, one of the very few charts showing this trend. Stochastic RSI showing momentum is in favor of bulls, will watch smaller timeframe for entry. Last time we were at this price was back in May where we sold off from 9000 to 4000. Will we see a repeat or do we finally break 9000?
Daily
Shifting over to our pattern timeframe we see XRP has found resistance at 8500, stochastic rsi showing momentum starting to shift in favor of bears. Expecting a sell off towards our breakout support at 6500. A daily close above 8500 activates our trade, however a rejection from this level and expect a drop towards our drawn support.
Conclusion
- Buy: After Daily Close Above 8500
- Sell: Por Que…
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
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