XRPBTC
Hi Everyone, XRP/BTC has been consolidating for several days, forming a resistance/support level pattern that looks like a bull flag , I also noticed that every time the market get to the resistance level , they are pushing really quickly the price back, forming doji all the way. This particular dojis can be interpreted as market showing off strength. Right now we are at the very top of one of the important resistances. if we break out that resistance price can shoot up 10 to 15%, behavior of a breakout can be different than others. Sometimes we tend to see a retracement to test the new support that use to be resistance before push to a higher levels. Im looking for confirmation on a break out of either, resistances or support. But so far my Position is Bullish on this trade. In addition, there are some bullish divergence on the momentum indicators that it is really interesting to me.
Cheers!
Bullish Divergence on the Magnus Cycles indicador!
XRP still trading in between the bull flag, If you are going Long its a good importunity to buy with a low risk, since stop loses can be set closer to the entry price.