- Draw a fibonacci golden ratio that expanded from 2014 until current time. see it's still valid until these time. acting as a important resistance and support for expanding future. currently it's acting as a important support at 4100 satoshi area and it touch that fibonacci golden ratio line perfectly.
- Compare with last price movement of xrp/btc on 2017 before parabolic rise.. See how the xrp/btc break the downtrend line first before start parabolic run up.
- From indicators still relatively bearish, slight bullish divergence if you look macd line and price movement.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
- Compare with last price movement of xrp/btc on 2017 before parabolic rise.. See how the xrp/btc break the downtrend line first before start parabolic run up.
- From indicators still relatively bearish, slight bullish divergence if you look macd line and price movement.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
Although a price action is very bearish looking. Some particular indicators it's show a bullish divergence on MACD ( macd line with price) and RSI. I expect a bear trap in this region once the volatility is higher than current momentum is still quite low from DMI indicator. Quite before the storm scenario.