Take care with Ripple, this is an unusual Chart to me
Hey followers,
AS you get to know me you will see that i am not a big Fan of conspiracy theories, but when I look at Ripple it just doesn’t look right to me.
I expect to see bounces come off most EMA’s, they are obvious support and resistance levels and will bring traders into the market. It’s the size and strength of the bars that surprise me on XRPBTC.
Ripple is in a solid move down, while our Chanel tool won’t fit beautifully over it like in a Trading manual. It’s pretty clear for all to see.
But Each time it hits a EMA we see quite aggressive buying, stronger buying than I would expect off the levels. You will see the 20EMA (Light blue line, circled) Hit and immediate buying, the Test of the 50 EMA (Red line circled) followed by the 2 most Bullish bars on the move down, they are only just better than the three buying bars following the test of the 100 EMA (pink line circled) , and now the bounce off the 200EMA (Green line circled). Perhaps its just market forces, but it looks odd to me.
I am out of XRP Until we get below the 200EMA, Its an important level and if someone is playing they may yet be back here. But if we get below the 200EMA on a DAILY chart, I will be looking to sell the first lower high we put in under it, especially if that happens to be a test of the 200EMa from below.
I will look at buy back levels if we get put in.
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AS you get to know me you will see that i am not a big Fan of conspiracy theories, but when I look at Ripple it just doesn’t look right to me.
I expect to see bounces come off most EMA’s, they are obvious support and resistance levels and will bring traders into the market. It’s the size and strength of the bars that surprise me on XRPBTC.
Ripple is in a solid move down, while our Chanel tool won’t fit beautifully over it like in a Trading manual. It’s pretty clear for all to see.
But Each time it hits a EMA we see quite aggressive buying, stronger buying than I would expect off the levels. You will see the 20EMA (Light blue line, circled) Hit and immediate buying, the Test of the 50 EMA (Red line circled) followed by the 2 most Bullish bars on the move down, they are only just better than the three buying bars following the test of the 100 EMA (pink line circled) , and now the bounce off the 200EMA (Green line circled). Perhaps its just market forces, but it looks odd to me.
I am out of XRP Until we get below the 200EMA, Its an important level and if someone is playing they may yet be back here. But if we get below the 200EMA on a DAILY chart, I will be looking to sell the first lower high we put in under it, especially if that happens to be a test of the 200EMa from below.
I will look at buy back levels if we get put in.
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I am aware of the rumors, I just dont want to gamble on them. Maybe it all comes true, maybe not.