XRPBTC: Analysis for May 1st 2018

I look at XRPBTC as both are currently moving in tandem.

XRP saw a big increase in price around April 12th onward and it seemed as if Bitcoin followed this trend.

While price has managed to stay relatively over the Exponential Moving Averages I have set up, it has worryingly gone under several times. While the weekly, monthly and daily time frames look much better as they're all well above the EMAs. Shorter time frames show indecision but price climbed in bullish fashion over EMAs on the 4 hour chart and a doji is currently forming.

Personally I would buy more if the next couple of candles show clear signs of bullish pressure over the Exponential Moving Averages.

I am long and medium term bullish on XRP, short term unclear at this point. Sentiment seems to be bullish on Twitter and Discord chat rooms. This screams manipulation (Wyckoff accumulation phase) and many other traders seem to think so given the sudden dumps and pumps here and there.

This analysis is for personal use. I would like to hear your perspective.

Comment:

Fortunately there was a big boost on that last 4 hour candle. Because of this, price hovers well above EMA on 4 hour. I say 'fortunately' because price could have dipped under and that would have not been good for holders.

I am bullish short, medium and long term.

Comment:

rekt