XRPUSD buy opportunity

Here we have the XRPUSD on the 1H chart.

XRPUSD tested today twice the red resictance line. Both failed. Earlier it broke through but hit the purple resistance line. Now it's stuck between the red and yellow line. The yellow line is a support line here, it's hit multiple times and causes a strong grow every time. Between now and the eight of august the red and yellow line will cross. When I see the past I don't believe it will go through the yellow support line, so it's going to break the red resistance line. When that's going to happen there's no resistance till the purple line.

So two scenerio's are possible here:
1. XRP breaks the red line and grows till the purple line.
2. XRP can't break the red line for now, falls back to the yellow one, breaks the red line after that and could grow a bit more compared to option 1 till it it's the purple line.

Key is to watch when the red line will be broken, that's our entry point for a buy.
SL: A bit under the yellow support line.
TP: Till it it's the purple resistance line.

When this idea receives enough attention I'll give updates.

Comment:

Option 2 is into play. Watch carefully what happens around the yellow support line. When it looks like the trend turns I recommend to watch the RSI rising above 30 for conformation. That's our buy signal!

When the yellow support breaks I'll update this idea with the knowledge I have then.