$XRP continues its downtrend

Тема в разделе "English", создана пользователем Trading Ideas, 4 окт 2019.

  1. Trading Ideas

    Trading Ideas Участник

    Сообщения:
    252.681
    Симпатии:
    2
    1501008-NDj7_mid.png
    $XRP continues its downtrend
    XRP / Dollar BITFINEX:XRPUSD
    cryptohopper
    z7V2OyQu_mid.png
    Cryptohopper Newsletter

    Key levels
    Short term
    Supports—> S1: 0.25 & S2: 0.20
    Resistances—> R1: 0.30 & R2: 0.46

    Medium term
    Supports—> S3: 0.18 & S4: 0.15
    Resistances—> R3: 0.55 & R4: 0.60

    Potential scenario
    At the end of September, XRP touched its lowest level since the 2017 bull run, $0.21. Even though it looked like the everlasting downtrend was coming to its end when last June Ripple sore to $0.51, it keeps making lower lows.

    After reaching S2 last week, the price has made a retracement to S1 to, very likely, keep going down. It is still too soon to take medium-term positions since the scenario remains very bearish .

    TA comment
    As argued in the last section, the scenario for Ripple and most of the crypto market still remains bearish . Resistances cannot be broken upwards due to the lack of demand and the price keeps making new lows.

    Ripple has been making new lows through strong bearish moves, then making a pull-back and continue its way down. We could use the Bollinger bands to open long positions before the price makes the pull-back. When XRP moves downwards, the lower Bollinger band will be broken by the price, to thereafter increase and perform the pull-back to the resistance. Then, increasing your chances of getting a positive position.

    Pattern
    During this long downtrend, the pattern In-Neck has been spotted several times. It is a bearish continuation pattern represented by 2 candles. During a downtrend, a long decreasing candle is followed by a small increasing candle that opens below the previous candle and closes slightly above the previous close. Therefore, signaling a sell.


    Start automating your trading with Cryptohopper.


    —CRYPTOHOPPER—
     
Похожие темы
  1. Trading Ideas
    Ответов:
    0
    Просмотров:
    60
  2. Trading Ideas
    Ответов:
    0
    Просмотров:
    64
  3. Trading Ideas
    Ответов:
    0
    Просмотров:
    82
Загрузка...
  1. Этот сайт использует файлы cookie, чтобы помочь персонализировать контент и сохранить ваш вход в систему, если вы зарегистрированы.
    Продолжая использовать данный сайт, вы соглашаетесь на использование файлов cookie.
    Скрыть объявление