Ripple (XRP/BTC)


added on 06 February

Ripple (MAID/BTC) 4-hour chart
Ripple (XRP/BTC) 4-hour chart

Current Condition,
: The trending downward look set to encounter the double bottom
: ADX at 39.24 indicating strong trending market
: RSI at 32.5, closing on oversold position

Trade Idea,
: check the next candle after the daily candlestick touches the support level.
: Buy signal on bullish engulfing candle pattern on top of the line.
: Sell signal on bearish engulfing candle pattern on below of the line.
: RSI is lower than 30
: Strong ADX will signal sharp trending

Outline


Ripple (XRP/BTC) is close to challenge the crucial support zone 0.00000560 level. Although we can’t predict precisely the direction but we know the swing will be strong from that level, either reversal swing or continuation to the downside. Please do refer to this page to learn more about the Double Top/Bottom and Engulfing Candles Strategy.

BTC Exchange Used to trade Ripple (XRP/BTC),
BitMEX
Poloniex

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Poloniex




Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.